What is happening is no surprise, WIPO statistics show that global intellectual property markets generate approximately US$180 billion in licensing each year. Intellectual property has emerged as the most important asset in the 21st century. What used to be a quiet corner of the tech business is becoming a hot zone in the legal and business world. Could you imagine a world where IP is protected with one open blockchain administering millions of dollars of protected rights?
Kakushin, a decentralized ecosystem driven by innovation and intellectual property, has opened the door for innovators to list their patents and intellectual property (IP) at the World Intellectual Property Organization (WIPO), which is a self-financing UN agency with 191 member countries. We know from WIPO data that global intellectual property filing activity is increasing. The data shows that the number of patents filed between 2015 and 2016 alone increased by 8.3 percent.
Blockchain Intellectual Property
Intellectual property applications have increased for seven years in a row. Against this background, Kakushin significantly reduced the difficulty faced by innovators in establishing basic copyright protection for their innovations and in reducing the ill effects of copyright infringement.
Patents are more than intellectual property protection, they are also valuable assets for innovators. Kakushin makes it easy for innovators to work together on IP. The project creates an environment where innovators can present their ideas and increase their acceptance among investors. This reduces the problems associated with neophobia. Kakushin eliminates the uncertainty associated with crowdfunding and ushers in an era of transparency. The innovation ecosystem that Kakushin is pushing is a blockchain-based solution that ensures investors get a stake in the project it chooses to support. Innovators are freed from geographic constraints as the ecosystem transcends borders and is a truly global solution.
Kakushin blockchaining IP with WIPO
The patent process itself is also mired in difficulties, and navigating this minefield can be challenging for new entrants; make a mistake at the patenting stage and all the inventor’s hard work is wasted. To this end, Kakushin’s partnership with WIPO is vital. WIPO works to create an efficient and balanced international intellectual property system. WIPO member states create the foundation upon which the global intellectual property system is built, supported by treaties and conventions that are facilitated by this international organization. Although WIPO itself does not issue patents, which are the responsibility of national or regional patent offices, it facilitates international patent protection under the PCT system.
Kakushin is a first-of-its-kind all-in-one solution for the innovation and IP industry that will offer a blockchain-based innovation environment working with the WIPO framework, Kakushin Ecosystem is a Hyperledger-based platform that is driven by smart contracts and manual review of all documents and audit of smart contracts between all IP stakeholders to protect the interests of stakeholders and make IP readily available to share with others (may or not for monetary gain) in the virtual world. Although Kakushin Ecosystem is a brand of Prius Labs Pty Ltd, Australia, it follows all the steps and guidelines prescribed by WIPO to be followed in the real world. So Kakushin Ecosystem works as a service provider to facilitate its clients and provide them with the services offered by WIPO in the real world plus what WIPO and other patent offices lack, a mechanism based on virtual/digital records and smart contracts to protection, management and monetization of IPR.
Sachin Bhargava, co-founder and CTO of Kakushin Ecosystem, said that:
“We want to create a world where an inventive and unique idea will get resources that can fiscally support the most amazing innovation, so that Innovators don’t have to look for anything, Kakushin is a fully integrated platform to turn their idea into a viable product “
Decentralized platform for incubation and IP protection
Kakushin’s blockchain-based incubator is powered by a community-driven blockchain approach. A comprehensive ecosystem affects all actors throughout the innovation life cycle. Kakushin Incubation and Nursing Center takes a 360ยบ approach to ICOs, from spreading knowledge, facilitating investments, launching ICOs to providing the opportunity to track existing ICOs in innovative and environmentally friendly ideas and products. Kakushin’s approach is essentially centered around effective market validation and risk mitigation. The integrated exchange that accepts Kakushin Token (KKN) allows investors, buyers and inventors access to the entire innovation ecosystem.
As Kakushin focuses on building a community that supports and nurtures innovation, they are taking a crowdfunding approach to support the project. The Kakushin presale is ongoing and should end on May 31, 2018. Kakushin has over +18K members in the official Telegram community. The main token sale will start on June 1, 2018 until June 30, 2018. During the token sale, 2.4 billion KKN will be sold, which are ERC20 compatible and based on the Ethereum blockchain. It has a soft cap of US$4 million and a hard cap of US$30 million for sale. Kakushin published a white paper describing the technical and other aspects of the project.