InvenTrust is preparing a platform which will be a marketplace for Intellectual Property. There can be different types of Intellectual property like patents, rights, copyrights, etc. Users can make use of this platform in order to get maximum monetary benefit by selling it. It is going to create whole new community of people where trade of their intellectual property is possible, also this will incorporate the community of evaluators who are going to evaluate the authenticity of Intellectual Property published by owners. These evaluators would be the people who are reputed in their field of work, and eventually would be incentivized. InvenTrust is bringing up all the intelligent minds on to a single platform.
In order to fight with the challenges, Blockchain based platform can be made which has some features which are focusing to resolve them. There are certain features of blockchain which is making it more suitable for this use case:
Decentralization: There are different entities involved, in order to make the system more reliable in terms of compliance, there would not be any single authority to maintain the logs of transaction related to compliance and doing the settlement in case of discrepancy among the entities.
Immutability: Once the transaction gets register on to the blockchain, it will not be possible to make the changes with the record. So, InvenTrust in respect of compliance can be maintained without any risk of mutability, also the Intellectual property which is getting upload on this platform won’t be facing any issue related to mutability.
We have achieved a blockchain based platform which is highly efficient in handling the transactions in respect of the marketplace build for Intellectual Property.
Satisfactory client is the achievement of the project, first phase of which is entitled to achieve above ten thousand legitimate users around the globe.