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IPChain Association builds the bridges of trust for intellectual property

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For the last decade the importance of the intellectual property sector has significantly increased in the context of the global digitization and globalization trends.  

Today intellectual property plays the role of an indicator of development of science, hi-techs, education and economy as a whole. IPChain Association in response to changing requirements of the digital market creates the “trust infrastructure” to enable the intellectual property market participants to effectively cooperate in conditions of maximum transparency. This is the first backbone mechanism based on the blockchain technology and developed within the “Digital Economy of the Russian Federation” program. 

On the threshold of the Russian Investment Forum, where investments in digital economy will be discussed separately, Rossiyskaya Gazeta talked about the investment attractiveness of the intellectual property sector and investment market development prospects with Grigory Turintsev, Executive Director of n’RIS digital service, which is one of IRChain sites. 

How in your opinion does the economy digitization influence the investment climate in Russia and around the world? 

Grigory Turintsev: Digital environment itself promotes the growth and development of the economy, involving new players and ensuring transborder nature of the market. In such conditions, the key factor is the trust between the participants: this is what ensures the opportunities for growth and further development. 

Increased investments in intangible assets, including the intellectual property items, reflect the need for realignment of the Russian economy from the resource-based to innovative economy. By all means, such changes affect the investment climate in Russia and the whole world: investors actively investing in intangible assets need new guarantees and cooperation algorithms.  It is logical that changing market requires new solutions. 

The intellectual property and integration of new technologies in this area will be discussed at the forum. Special attention will be paid to regions. Does IPChain Association consider Russian regions as prospective markets? 

Grigory Turintsev: As far as IPChain creates digital infrastructure of trust allowing the participants to cooperate based on maximum transparency principle, we have some things to offer to the market, including the regional one. To prove my point, now the interest in the use of IPChain ecosystem is shown by Russian regions, EAEU member states and other countries. Last year IPChain Association established cooperation with partners in Armenia, Belarus, Kazakhstan, Kirghizia and Uzbekistan.  The partnership agreement with the Ministry of Computerization, Communications and Mass Media of Dagestan will be signed at the Russian Investment Forum. 

Development of the potential and increase in investment attractiveness of regions as well as development of industrial clusters will be discussed at the forum within a separate section, which is of the greatest interest to us. 

Let’s return to investments. How in your opinion will the investors’ strategy change in conditions of digital economy? 

Grigory Turintsev: As I said, it becomes obvious to investors that today the highest added value is provided by intangible assets, including the intellectual property items. Investments in intellectual property, for instance, favour the development and implementation of new technological and innovative products, thus improving all economic indicators. 

Investing in the intellectual property items, the investors in addition to security and return on investments want to be sure that these items are properly protected. Technological solutions of IPChain guarantee reliability and unchangeability of all information about the intellectual property rights and items. 

Does IPChain develop any tools for interaction with investors? 

Grigory Turintsev: Yes, for sure. It should first be mentioned that IPChain is built on Hyperledger Fabric software framework, which allows tracing of all events during the whole life cycle of an intellectual property item. Any investor may obtain all information about investee. This is the principle of transparency and trust, which I mentioned before. 

Various services for specific sectoral requirements are developed based on IPChain infrastructure. For instance, there is operating FONMIX background music player, n’RIS digital service for deposition, protection and monetization of the intellectual property items etc. 

As for investments, in the near future we plan to launch the IPChainbased  CO-FI – the first Russian digital crowdinvesting platform to finance the creative and technological projects, including investment loans secured by intellectual property. In fact, CO-FI platform will unite those who have ideas with those who have money and will ensure the same principles of trust and transparency, which are necessary to minimize risks and provide for the healthy investment climate. 

Another project within IPChain ecosystem, which is about to be launched is IPEX – the world’s first intellectual property exchange. This is a large-scale platform for any transactions with the intellectual property items. The “direct contact” principle underlying the interaction in IPEX will give the sellers and buyers the opportunity to interact in the digital environment without intermediaries. 

I am sure that these projects will form the technical base for the new generation investors working in conditions of the digital economy.