In today’s highly digitized economy, innovators keep coming up with new ideas and concepts that have the potential to transform how existing industries operate. This creates a) an opportunity to create non-conventional intellectual property (IP) assets, and b) challenges linked to the ownership of Intellectual Property (IP) rights.
Regarding opportunities, new innovators have a chance to develop strategic IP assets that they can market to industry players. On the other hand, the rapidly evolving and digitized tech space introduces the headache of industries being built upon Intellectual Property (IP) assets, to which they may not own exclusive rights. As well, the fast-changing tech space introduces the risk of many conventional business models becoming outdated and diminished. That’s despite the firms building huge value into their intellectual property assets.
While IP-related opportunities and challenges abound, individuals and organizations need to convert their ideas or IP assets into IP portfolios, securing their innovations and possibly earning from their creations.
Though the process of translating patent-protected goods into IP portfolios to unlock key benefits can be challenging, there’s some great news: “HumCen Global is partnering with XDC-based Plugin to leverage blockchain technology and help innovators convert their IP assets into transformative IP portfolios”.
So, who are HumCen Global and Plugin? And, why does the recent partnership between HumCen Global and Plugin matter, or how does the partnership impact the creation of secure intellectual property assets?
HumCen Global is a human-centered IP organization that seeks out fresh ideas and concepts and turns them into IP assets. Driven by a mission to evangelize the futuristic initiative of nurturing the culture of patenting, HumCem Global seeks to open up the patent space for different players to innovate, protect, and market IP assets.
Through a Human-Centered Innovation method, Co-Creation, and strategic patent consultancy, HumCen Global will assist individuals, businesses, and institutions to create strategic IP portfolios, making them more competitive in their respective businesses. Thanks to the human-centered IP organization, innovators will get strategic patent consultancy and mentoring to help them create and develop strategic and intangible assets.
Other services offered by HumCen Global include patent search, patent filing, patent portfolio, patent drafting, patent licensing, and patent strategy.
Plugin (PLI) is a secure & scalable decentralized oracle platform that provides cost-effective answers for any smart contract that makes use of the XDC Network Ecosystem. The decentralized platform enables smart contracts to connect, in real-time, with data feed providers. While at it, the platform guarantees a high degree of security for the data, and with off-chain computation, the platform manages feeds from multiple providers and aggregates.
Plugin And HumCen Global’s Partnership: Why Does It Matter
In yet another milestone, Plugin and HumCen Global signed an MOU to support the development of a blockchain-powered Tech platform for HumCen Global. Leveraging HumeCen’s expertise in the intellectual property space and Plugin’s outstanding blockchain protocol, the partnership will help develop a system that enables innovators to translate their patent-protected assets and lock the data into a blockchain. And thanks to Plugin’s decentralized oracle platform, IP data can be easily verified and transferred into the blockchain. As well, blockchain’s immutability will make it impossible for any entity to manipulate, replace or falsify data that relates to an IP portfolio.
Let’s elaborate further on why the Plugin–HumCen partnership is a game changer.
Today, many oracles exist to bridge the gap between blockchain applications and external data. However, not all are successful. Some oracles face the blockchain oracle problem. That is, problems associated with guaranteeing the correctness, availability, and accountability of their data providers, introducing challenges relating to data integrity in the published smart contracts.
More specifically, when oracles depend on centralized data sources when broadcasting data to an external smart contract, there’s a likelihood of manipulation via hacking, depreciation, or bribery.
However, Plugin(PLI) offers a solution that will make it possible for the translation of IP-related information into smart contracts. Plugin (PLI) uses a noncustodial smart contract architecture that leverages data integrity proofs with cryptographic signatures and data validation modules that are secured by multi-layer aggregation. In addition, the Decentralized Oracle Platform built on the XDC Network offers low-cost smart contract solutions. Coupling the benefits of decentralization and low-cost smart contracts, Plugin will enable HumCen Global to process complex business development systems in a cost-effective and resource-efficient manner. Furthermore, it will provide the world’s first IP company with the ability to seamlessly integrate data from on- and off-chain ecosystems, among other capabilities.
Given that Plugin (PLI) protocols cover solutions in asset price tracking, sports statistics, shipping statistics, and meteorological data tracking, HumCen will easily tap into the platform’s expertise when working with clientele in the said industries. And together, HumCen Global and Plugin will be able to provide a new and robust way of handling complex business development issues.
To add, HumCen Global will begin accepting Blockchain-based digital currency soon, easing transactions globally.
For more insights… Kindly visit Plugin’s
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As well, kindly visit HumCen Global’s
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