IPCHAIN Database Aims to Revolutionise the Protection of Intellectual Property with Blockchain Technology
IPCHAIN Database, a searchable platform, is attempting to revolutionise the protection of intellectual property through the use of blockchain technology.
Whether it’s a scientist, an innovator, or an artist, one of the problems they frequently face is proving that they were the creator behind a particular product and that they own the copyright to it. This is especially pertinent given the evolving digital age we live in where the misappropriation and illegal use of intellectual property can have a negative effect on the person who owns that piece of work.
IPCHAIN Database is focused on addressing these problems through its inherent security, ensuring indisputable proof of authorship by sharing information on a blockchain. As all stored information is publicly available and easily verifiable, legal experts will know that the information on the database will be sufficient to prove the author’s status as well as the date of their work in any legal proceedings. The technology will also enable the creator of a product to select, adapt, and use non-disclosure agreements (NDAs) in order to share their information safely.
“Companies or private individuals can share confidential information or work they have created by simply sending a link and having the other party sign a non-disclosure agreement prior to accessing that information, which is also uploaded to the blockchain as proof,” said Dominik Thor, CEO of IPCHAIN Database.
The proof of the signature and the time-stamped document is permanently stored on the blockchain. The transfer of intellectual property rights is also made simple via the distributed ledger through the use of sales contracts between parties. Additionally, to maintain the safety of the parties involved, the actual transfer will only take place once payment has been received enabling creators to monetise their work.
“Our partners also allow us to come up with very specific use cases that we want to show to the community. One of our advisors works in the management of Germany’s biggest game developer. They have more than 300 million users playing their games and he will help us offer game developers the chance to protect their code, in-game assets and game mechanics using IPCHAIN Database,” Thor explained.
With the team currently working on a prototype, IPCHAIN Database will present it to the public before its ICO with a beta version available at the time of the token sale. This will ensure that users can upload their data to the blockchain, protecting their innovation.
“A complete release of IPCHAIN Database with all functionalities described in the white paper will happen later this year,” said Thor.
The platform is aiming to fulfil its goal of becoming a revolutionary tool that will protect novel inventions, works of art, and concepts.
In order to have the support and input from important stakeholders during the development and testing stage, IPCHAIN Development has partnered up with a number of leading organisations. These include WIPO Green, the sustainable technology marketplace and a division of the United Nations that is helping to achieve the agency’s sustainable development goals, the International Federation of Inventors’ Associations (IFIA), Dennemeyer, the biggest IP law firm which is active on five continents, the Marie Curie Alumni Association (MCAA), which is an active community of researchers, TommorowLabs, an organisation that is focused on developing new bio-molecular technologies capable of redefining anti-aging skincare, Crypto Management, a website that provides comprehensive advice on digital currencies, and a number of leading universities.
IPCHAIN Database is launching its pre-ICO sale on the 24th March and is expected to close on the 15th April or before, if all pre-sale tokens sell out. During the pre-ICO, the platform will sell 637,500 tokens with a 35 percent bonus. IPCHAIN tokens will be created and implemented as an ERC20 token, utilising the Ethereum blockchain. While there is no minimum or maximum investment, only ether will be accepted. The platform has a hard cap of $20,000, total tokens available will be capped at 15,000,000, the number of base tokens for sale will be 8,500,000, and bonus tokens including the strategic fund is 1,500,000. Tokens for the project fund, including the team and development, is 5,000,000 and the strategic fund for early investors will account for three percent of all tokens.