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Roscosmos Deploys Blockchain-Backed IP Guard Solution Designed by Waves Enterprise


www.coinspeaker.com 27 April 2021 11:30, UTC
Reading time: ~3 m

The participation in the Roscosmos IP Guard service comes with a lot of incentives as users get rewarded for identifying any violations. 

Russian Space Agency, the Roscosmos State Corporation has tapped into the blockchain technology capabilities of Waves Enterprise to launch the IP Guard service to protect the Intellectual Property rights of key stakeholders including individuals and companies within the rocket and space industry. 

According to the official announcement, the IP Guard service is billed to draw participation from various professionals including “patent experts, patent attorneys, lawyers and simply caring citizens who can help copyright holders reduce the time and cost of detecting violation.”

The application of blockchain technology to overhaul key processes in both private and public organizations is growing. The embrace of the tech infrastructure of the Waves enterprise-grade blockchain solution is a clue into the advancing recognition the Russian agency has for the broader blockchain ecosystem as a whole. Specifically, the IP Guard solution being brandished by Roscosmos will help streamline the cost of identifying violations of rights and collecting evidence.

In practice, anyone within the system can send information about any detected violations to the holders of Intellectual Properties in the industry. Upon receipt, the IP holder can take the right actions. These can range from suppressing the violation to determining the amount of damage and potential compensation as well as the initiation of any legal claims.

“When lawyers use the evidence base of the copyright holder, the smart contract transfers the reward in the form of tokens to the contractor who revealed the violation or issues an electronic certificate in his name, which gives the right to receive remuneration in non-monetary form,” said Igor Kuzmichev, commercial director of Waves Enterprise.

The IP Guard is undergoing Beta testing at the moment, and a full rollout is scheduled for Mid-summer. According to Roscosmos, the results from these tests will be used to improve the service prior to the official rollout.

The Roscosmos IP Guard Service Comes with Remuneration

The participation in the Roscosmos IP Guard service comes with a lot of incentives as users get rewarded for identifying any violations. 

“The service’s smart contract will ensure the accrual of remuneration to external performers in the form of tokens,” the agency revealed in the Press Release, adding that these “can then be exchanged for souvenir products with the symbols of the State Corporation Roscosmos and industry organizations, tickets to the Museum of Cosmonautics and other forms of non-monetary motivation.”

The partnership is exploring avenues to work with Banks so that rewards can also be paid out in cash. The IP Guard service will be implemented as a website, while an application is bound to be developed in the future.

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