Kakushin: The Future of the Global Billion Dollar IP Market
What is happening is not a surprise, WIPO statistics show that global intellectual property markets are generating approximately $180 billion dollars in licenses each year. Intellectual property has turned out to be the most critical asset of the 21st century. What used to be a quiet corner of the tech business is becoming a hot spot in the legal and business world. Could you envision a world where intellectual property is protected with an open blockchain that manages millions of dollars in protected rights?
Kakushin, a decentralized ecosystem driven by innovation and intellectual property, has opened the gateway for innovators to list their patents and intellectual property (IP) with the World Intellectual Property Organization (WIPO), which is a self-funded agency. of the United Nations with 191 member states. We know from WIPO data that global intellectual property filing activity has been increasing. The data indicates that the number of patents filed between 2015 and 16, only experienced a growth of 8.3 percent.
Intellectual Property in the Blockchain
Intellectual property applications have been on the rise for seven consecutive years. It is against this backdrop that Kakushin has greatly reduced the difficulty innovators face in establishing basic copyright protection for their innovations and in reducing the harmful effects of copyright violations.
Patents are more than just intellectual property protection, they are also valuable assets for innovators. Kakushin is making it easier for innovators to work together on IP. The project creates an environment in which innovators can present their ideas and increase their acceptance among investors. This reduces the problems related to neophobia. Kakushin removes the uncertainty associated with crowdfunding and ushers in an era of transparency. The innovation ecosystem that Kakushin is driving is a blockchain-based solution that ensures investors get a stake in the project they have chosen to support. Innovators are freed from geographic constraints as the ecosystem transcends borders and is a truly global solution.
Kakushin IP blockchain with WIPO
The patent process itself is also fraught with difficulties, and navigating this minefield can be challenging for new entrants; make a mistake at the patenting stage and all the hard work of an inventor is wasted. To that end, Kakushin’s association with WIPO is vital. WIPO works to create an effective and balanced international IP system. WIPO member states create the foundation on which the world’s IP system is built, supported by treaties and conventions that are facilitated in this international organization. While WIPO itself does not grant patents, which is the responsibility of national or regional patent offices, it facilitates international patent protection under the PCT system.
Kakushin is the first of its kind all-in-one solution for the IP and innovation industry that will offer a blockchain-based innovative environment that works with the WIPO framework. Kakushin Ecosystem is a Hyperledger based platform powered by smart contracts and manual verification of all documents and auditing of smart contracts among all involved stakeholders of an IP to safeguard the interest of stakeholders and make the IP easily available for sharing. with others (may or may not be for monetary gain) in the virtual world. While Kakushin Ecosystem is a trademark of Prius Labs Pty Ltd, Australia, it follows all steps and guidelines prescribed by WIPO to be followed in the real world. So, Kakushin Ecosystem functions as a facilitation service provider for its clients and provides them with the services offered by WIPO in the real world plus what WIPO and other patent offices lack a virtual/digital registry and mechanism based on in smart contracts for the protection, management and monetization of IPR.
Sachin Bhargava, Co-Founder and CTO of Kakushin Ecosystem, said:
“We want to create a world where an inventive and unique idea gets resources that can fiscally drive the most amazing innovation, so innovators don’t have to search for anything. Kakushin is a fully integrated platform for turning your idea into a viable product.”
A decentralized incubation platform and IP protection
Kakushin’s blockchain-based incubator is powered by a community-driven approach to blockchain. The end-to-end ecosystem touches all participants throughout the innovation life cycle. Kakushin Incubation and Nursing Center takes a 360ยบ approach to ICOs, from knowledge dissemination, investment facilitation, ICO launch to the ability to track existing ICOs into innovative and green ideas and products. Kakushin’s approach is essentially focused on efficient market validation and risk mitigation. The integrated exchange, which accepts the Kakushin (KKN) token, allows investors, buyers and inventors to access the entire innovation ecosystem.
As Kakushin focuses on building a community that supports and drives innovation, they are taking the crowdfunding approach to support the project. The Kakushin pre-sale is ongoing and will end on May 31, 2018. Kakushin has more than 18,000 members in the official Telegram community. The main token sale will start on June 1, 2018 until June 30, 2018. 2.4 billion KKN will be sold during the token sale, which is ERC20 compliant and based on the Ethereum blockchain. There is a soft cap of $4 million and a hard cap of $30 million on the sale. Kakushin has published a white paper detailing the technical and other aspects of the project.