Roscosmos To Fight Blockchain-Based Intellectual Property Infringement In The Space Industry
Roscosmos To Fight Blockchain-Based Intellectual Property Infringement In The Space Industry
April 30, 2021
Roscosmos To Fight Blockchain-Based Intellectual Property Infringement In The Space Industry
Roscosmos To Fight Blockchain-Based Intellectual Property Infringement In The Space Industry
April 30, 2021

Roscosmos, the Russian space agency, has aimed to fight blockchain-based intellectual property infringement in the space industry.

It has been reported that Roscosmos started testing an IP protection solution based on the Waves Enterprise blockchain platform, a hybrid blockchain platform developed by the eponymous local blockchain firm. Named IP Guard, the blockchain-based tool detects violations of IP belonging to Roscosmos and other industry organizations.

However, by using the tool, Roscosmos can reportedly maintain and verify a database of IP data objects as well as coordinate IP experts, such as lawyers, patent specialists, and auditors.

Igor Kuzmichev, the Chief Commercial Officer of Waves Enterprise, said:

“The most notable properties of blockchain are data immutability and the possibility of verification. Centralized registries cannot provide these properties.” 

The report said that the solution also enables Roscosmos to provide non-monetary rewards for detecting IP infringement cases through smart contracts.

Kuzmichev said that as part of the platform’s remuneration program, network participants will receive “cosmotokens” that can be later exchanged for merchandise from the agency as well as other space industry organizations.

ALSO READ :  Blockchain Startup Meld Gold To Offer On Tokenizing Gold Trading

Likewise, the new tool is now in beta testing, with Roscosmos being the first organization to test the service. IP Guard is expected to fully launch in summer 2021. Waves has been involved in many blockchain-related developments in Russia, including major state-backed initiatives.

Last year, the firm provided its blockchain expertise to power a blockchain platform for Russian parliamentary elections.

Thus, a member of the unified register of Russian software for computers and databases, Waves also provided its tech to national energy grid operators. Major Russian bank Alfa-Bank also implemented the Waves Enterprise blockchain platform for freelancer-focused service automation in late 2020.

Source: Cointelegraph | Image: Blockchain News


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Coinbase Active Users Increase By 120%

Coinbase Active Users Increase By 120%

The active users of Coinbase, the major cryptocurrency exchange, have increased by 120%, while trade volumes tripled. It has been reported according to documents filed with the US Securities and Exchange...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.