Abstract: Blockchain aficionados immediately saw its potential for numerous applications after it was initially developed for the virtual currency Bitcoin. Blockchain technology is being considered as a way to share private health information, follow products as they move through the supply chain, and even decentralise the energy market since it enables the distribution of digital information while preventing its copying.

Blockchain is especially helpful for digital asset management because of its advantages, including security, a thorough audit trail, and error-proof transaction tracking. SmartContracts are a new idea offered by Blockchain 2.0 that eliminates the middlemen generally present in contractual transactions (such as attorneys and notaries), establishes rules and sanctions, and verifies and enforces the agreements made. With the use of this technology, content creators can share ownership of an asset, receive payments that are fairly distributed, and easily transfer their rights when an item is sold or transferred.

Index Terms—Digital Asset Management, Automation, Smart Contracts

| DOI: 10.17148/IARJSET.2023.10620