Russian State Agency Inks Deal To Apply Blockchain In Copyright Sector

This year, IPChian has signed two deals to integrate blockchain into IP systems. The partnership is meant to revolutionize the sector that has been making losses.

Russian IP Agency Partners With Tashkent in Blockchain Deal

A Russian firm with interest in the intellectual property has entered an MoU with Tashkent officials in a blockchain deal. Under the deal, the firm will help authorities link blockchain into copyright systems. The news was confirmed by Russian state-owned media outlet.

The deal was reached after a meeting between Andrey Krichevsky from IPChain and officials from the Tashkent's innovations department. The Tashkent side was represented by Jasur Zakhidov. The deal was signed on the sidelines of the Open Innovations Forum held in the Russian Capital. The blockchain system will be integrated into sectors such as IP and patent records.

According to Zakhidov, the copyright might see a revolution with the emergence of blockchain technology. He pointed out that the technology has the potential of turning the sector into the profit-making industry. He said that many innovators lack the knowledge on how to make profits from their products.

The official said that once the project has been rolled out, they are going to make a statement in the industry on how to earn from IP. Zakhidov added that they are going to teach original authors on how to make money from their works.

In a later press release, IPChain stated that their first role will be converting patent files into a digital version. They will deploy the IPChain systems under the patent office.

This is not the only copyright deal between IPChain and other institutions. In April, the institution reached an agreement with the Kyrgyzstan patent agency meant to digitize records under the office.

In Uzbek, president Shavkat Mirziyoyev is making bold steps towards spearheading the adoption of blockchain in the country. Three months ago, he legalized a document dubbed "On measures for digital economics development in the Republic of Uzbekistan,”.

The document will provide a guideline for incorporating blockchain in the clearing sector and the financial institutions.  Last month, the head of state-directed relevant authorities to set up a government blockchain trust to be implemented in a number of sectors.

2 years ago

Start Weekly Digest

Similar news