Russian house company makes use of blockchain to guard mental property

Russia’s house company, Roscosmos, goals to battle mental property infringement within the house trade wit blockchain know-how.

Roscosmos began testing an IP safety answer based mostly on the Waves Enterprise blockchain platform, a hybrid blockchain platform developed by the eponymous native blockchain agency. Dubbed IP Guard, the blockchain-based software detects violations of IP belonging to Roscosmos and different trade organizations.

Utilizing the software, Roscosmos can reportedly preserve and confirm a database of IP knowledge objects in addition to coordinate IP consultants akin to attorneys, patent specialists and auditors.

Waves Enterprise chief industrial officer Igor Kuzmichev stated, “Probably the most notable properties of blockchain are knowledge immutability and the potential of verification. Centralized registries cannot present these properties.” 

The answer additionally permits Roscosmos to supply non-monetary rewards for detecting IP infringement circumstances by good contracts. As a part of the platform’s remuneration program, community individuals will obtain “cosmotokens” that may be later exchanged for merchandise from the company in addition to different house trade organizations, Kuzmichev stated.

The brand new software is now in beta testing, with Roscosmos being the primary group to check the service. IP Guard is predicted to totally launch in summer season 2021.

Waves has been concerned in lots of blockchain-related developments in Russia, together with main state-backed initiatives. Final 12 months, the agency supplied its blockchain experience to energy a blockchain platform for Russian parliamentary elections.

A member of the unified register of Russian software program for computer systems and databases, Waves additionally supplied its tech to nationwide vitality grid operators. Main Russian financial institution Alfa-Financial institution additionally applied Waves Enterprise blockchain platform for freelancer-focused service automation in late 2020.