Taiwan-based blockchain startup Bitmark Inc. announced the release of a new whitepaper on digital property that addresses internet challenges of privacy violations, online piracy and inability to own digital assets.

The paper titled ‘Defining Property in the Digital Environment’ briefs on blockchain-based property system to offer the technology to all internet-based creators and social platform users in order to claim ownership over their digital assets and data.

The whitepaper analyzes the underlying reasons of present issues and outlines a blockchain-based property system that is capable of addressing topics including principles of property, piracy and rights, privacy in the digital environment, blockchain technologies, and decentralization, among others.

"As with previous property revolutions, the most effective way to safeguard and develop undervalued resources is to establish property rights for them. What is needed is a property system for the digital environment that brings real property rights to digital assets, thereby transforming them from a growing social liability into an unparalleled new property class capable of fueling the larger global economy,” the authors of the paper said in a release.

The paper was authored by Casey Alt, Sean Moss-Pultz, Amy Whitaker, and Timothy Chen and the release will be followed by Bitmark's beta software launch that is scheduled for mid-December 2016.