Russian Court Tests IPChain's intellectual Property Blockchain to Store Copyright Information

A Russian court has launched a trial exploring the use of blockchain to store copyright data. The Russian court is dedicated to handling intellectual property cases.

That court recently completed a successful test of a blockchain network for storing copyright data, according to a report by Russian news agency TASS this past week, as reported by Coin Telegraph.

TASS claims that the court recorded specific copyright information into the blockchain, including a change in the group of right holders for that specific copyright record. The test was brief, although a court spokesperson claimed that all copyright records changes could be recorded in the blockchain within five years – so clearly, the court was impressed with the results.

The blockchain solution was provided by Russia-based startup IPChain, which is quickly gaining a name for itself across Russia and other CIS countries for providing effective blockchain solutions that solve administrative issues – particularly with intellectual property.

IPChain’s customized blockchain solutions have been used to manage copyright data, patent rights, and other intellectual property concerns in Russia, Uzbekistan, and Kyrgyzstan. Thanks to IPChain, governments in each of these countries have been able to make intellectual property management systems more efficient.

The Court’s Test of Blockchain Technology is “A Definite Breakthrough”

IPChain President Andrey Krichevsky described the use of blockchain as “a definite breakthrough” for the Russian judicial system. In the future, Krichevsky envisions blockchain technology boosting interoperability in the copyright market, making it easier for all intellectual property data to be kept up-to-date in an immutable database.

Blockchain seems ideal for situations like intellectual property rights management. With blockchain, you can check the record to determine when someone changed a specific entry. It also prevents cases where the copyright is disputed: you can simply check the blockchain to verify the owner of that particular copyright record.

The Russian court, meanwhile, seems equally encouraged by the partnership. According to TASS, a representative of the court named Ludmila Novoselova hinted that the court would continue using blockchain technology in the future. In fact, Novoselova envisions a future where all legal disputes will be settled online. Novoselova also claims that all intellectual property rights cases could be recorded in the blockchain within five years.

IPChain Has Now Partnered with Multiple National Governments

This isn’t the first time IPChain has made headlines for launching a major partnership. The company has previously partnered with the government of Uzbekistan to deploy blockchain to handle local copyright issues. In that use case, IPChain’s blockchain successfully managed intellectual property rights in the field of science and invention. It ensured inventors’ inventions remained their own.

IPChain partnered with another central Asian government earlier this year as well. In April 2018, IPChain signed a deal with the State Patent Office of Kyrgyzstan to digitize patent records. IPChain took patent records from the Kyrgyz government and stored them in the decentralized blockchain database.

In addition to expanding its influence across Russia, IPChain also has a blockchain project in development with the government of Armenia.

IPChain isn’t the only company exploring the use of blockchain to manage copyright issues. In Spain, the Spanish Society of Authors and Publishers recently partnered with the Madrid School of Telecommunications Engineering to create a blockchain-based copyright management system.

While crypto markets plummet worldwide, it’s refreshing to read good news from the world of blockchain technology. Blockchain technology continues to expand around the world, and we’re seeing new use cases each day. This latest partnership between IPChain and the Russian court system appears to be the start of a successful partnership, one of many for the growing Russian startup.

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Andrew Tuts
Andrew is a Canadian cryptocurrency analyst who has spent the last seven years writing about digital marketing, science, and technology for hundreds of online publications. Andrew breaks down the latest news from across the crypto and blockchain space in a way anyone – even his parents – can understand.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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