- Roscosmos use blockchain technology to fight IP violation in the space industry.
- Roscosmos can maintain and verify a database of IP data using the tool.
- It is the first organization to test the new tool.
Roscosmos, a Russian space agency utilizes blockchain technology to fight intellectual property violations in the space industry.
Moreover, Roscosmos began testing an IP protection solution depending on the Waves Enterprise. However, Waves Enterprise is a hybrid blockchain platform created by the self-titled local blockchain firm.
Moreso, the blockchain-based tool Dubbed IP Guard will detect violations of IP belonging to Roscosmos and other industry organizations. In addition, Roscosmos can maintain and verify a database of IP data using the tool. Also, coordinates with IP experts namely lawyers, patent specialists, and auditors.
Waves Enterprise Chief Commercial Officer Igor Kuzmichev said,
“The most notable properties of blockchain are data immutability and the possibility of verification. Centralized registries can not provide these properties.”
In addition, the solution also allows Roscosmos to offer non-monetary rewards for detecting IP infringement cases through smart contracts. More so, network participants will receive “cosmotokens”, as part of the platform’s remuneration event.
Evenmore, these tokens can later be exchanged for merchandise from the agency as well as other space industry organizations, as per Kuzmichev.
Moreover, Roscosmos is the first organization to test the new tool. Added to this, Waves involved in many blockchain-related developments in Russia, including major state-backed initiatives.
Last year, the firm provided its blockchain expertise to offer a blockchain platform for Russian parliamentary elections. Furthermore, Waves also offered its tech to national energy grid operators. Most Russian bank Alfa-Bank also introduced Waves Enterprise blockchain platform for freelancer-focused service automation in late 2020.