Smart Intangible Asset Management

IPwe Launches SIAM Solution and Deploys 25 Million Patent NFTs

IPwe Launches SIAM Solution and Deploys 25 Million Patent NFTs

IPwe Launches Revolutionary SIAM Solution and Deployment of 25 Million Patent NFTs on Hybrid Casper Blockchain and Hyperledger Fabric Network

IPwe at Blockchain Hub Davos 2023 made a significant stride in the convergence of blockchain and intellectual property by unveiling their SIAM solution and announcing the deployment of 25M patent NFTs. This groundbreaking announcement marks a historic moment, demonstrating the potential of blockchain to revolutionize how companies manage IP.

Photo of IPwe announcing SIAM solution and deployment of 25 million patent NFTs

The Use Case for Blockchain and Intellectual Property

IPwe is revolutionizing the intellectual property (IP) system using blockchain. Intangible assets represent 90% of the S&P 500’s value, but patents, a large percentage of those intangibles, are underutilized and undervalued[1]. There are approximately 25 million active patents worldwide, but the asset owners generally misunderstand their holdings, causing low utilization and commercialization rates, including financing, due to a lack of transparency and standardized asset valuation metrics that asset classes have[2]. This amounts to over $1 trillion in lost IP opportunities annually[3].

IPwe utilizes Casper Network blockchain technology to create unique digital representations of granted patents. These digital representations, IPwe Digital Assets, store important public data about the patent, including its issue date, ownership, and expiration date. Additional private data, like the patent’s value and licensing agreements, can also be securely stored on the digital asset. This makes it easy for third parties to access both verified public and private data about a patent.

IPwe’s use of blockchain significantly enhances the efficiency of IP transactions by automating the process and reducing the resources needed to verify ownership, allowing companies to pursue microtransactions involving non-core IP that were previously too costly to pursue. This creates new opportunities for revenue generation and liquidity for IP assets.

Blockchain Meets IP: How IPwe’s SIAM Solution is Changing the Game with Hybrid Casper Blockchain and Hyperledger Fabric Network

IPwe is leveraging blockchain technology to transform the IP landscape by tokenizing the majority of the world’s patents as patent NFTs, referred to as IPwe Digital Assets, representing the largest enterprise blockchain NFT deployment in history. These 25 million IPwe Digital Assets store verifiable ownership data and auditable, compliant records for each patent, allowing enterprises to confidently manage their IP in the next-generation Web3 ecosystem. Additionally, IPwe Digital Assets are populated with public data from leading patent datasets, providing IP owners with a transparent digital representation of asset ownership. With verified data about each patent stored on NFTs, transactions can happen faster than ever before because enterprises no longer have to spend weeks or months manually verifying patent data, and smart contracts will trigger the transactions automatically.

Hybrid Casper Blockchain and Hyperledger Fabric Network

In September 2022, Casper Labs and IPwe developed and launched a dynamic NFT blockchain solution, IPwe Digital Assets. The solution uses the permissioned distributed ledger technologies of open source Hyperledger Fabric and the public Casper Blockchain to securely store verified public and private information about each patent. The integration capitalizes on the data security and trust inherent on a Hyperledger Fabric network and enables Casper to securely bring assets locked on the private ledger to the public chain.

Why A Hybrid Network Approach

A hybrid blockchain combines the capabilities of private and public blockchains, taking advantage of each. The private blockchain offers secure, permissioned data storage—an essential feature that’s particularly crucial for highly regulated industries. Meanwhile, the public blockchain brings scale and immutability, enabling a more open and transparent ledger.

To showcase the potential of a hybrid network, Casper Labs and IBM recently performed the first atomic cross-chain swap of fungible and non-fungible tokens between an instance of a Hyperledger Fabric permissioned network and the Casper Blockchain.They used a Hyperledger Lab, Weaver, to achieve the cross-chain functionality. (Weaver is now part of Hyperledger Cacti.) The result was a hybrid blockchain, uniquely equipped with the enhanced security of a consortium network running Hyperledger Fabric and the public verifiability and open market access offered by the Casper public blockchain.

The Significance of IPwe’s 25 Million Patent NFTs

Beyond just tokenizing patents, IPwe provides their SIAM solution, a SaaS tool for financial valuation and strategy management. By reading from the patents NFTs, IPwe’s advanced AI determine a benchmark value for each asset in the IP portfolio. These benchmarks provide enterprises with unrivaled insights and enabling smarter and more informed business decisions.

IPwe Digital Assets aggregate data for more efficient management and analysis by storing all relevant data in one location. This location is readily accessible on the blockchain from anywhere. Enterprises typically spend weeks verifying their own patent data, because it is highly fractionalized across multiple public and private databases. Another advantage of patent NFTs is data verification, as the data stored on the NFT becomes more valuable once verified. When adding data points to an IPwe Digital Asset, IPwe and other third parties confirm its level of trustworthiness, such as whether all existing “public” records show the same owner for a patent. Private asset data is also an important aspect of the 25 million patent NFTs.

IPwe aims to eventually ensure that it can add all private data to IPwe Digital Assets. Information on not just who owns it, but who is licensing it, who is commercializing it, who is financing it. All stakeholders can utilize this information to confirm the asset’s true value.

Conclusion: SIAM Solution

IPwe is transforming blockchain and intellectual property solutions. Furthermore, IPwe has historically achieved the largest enterprise blockchain deployment by deploying 25M patent NFTs. This remarkable achievement is a significant milestone in blockchain technology and has the potential to revolutionize IP.

IPwe’s SIAM solution is also a powerful tool for enterprises to easily manage their IP assets. By leveraging blockchain and AI, IPwe offers a comprehensive solution that enables businesses to accurately value, manage, and transact IP.

In addition, deploying patent NFTs is a critical step in unlocking IP value. Industry data reveals that approximately 95% of IP assets are not transacted or commercialized [4]. Therefore, IPwe has a strong position to address this significant untapped market.

In summary, IPwe’s deployment of 25 million patent NFTs with Casper and Hyperledger represents a revolutionary blockchain implementation. This initiative will bring liquidity to the IP space, finally unlocking patent value for companies across the global economy.

[1] IP Close Up
[2] WIPO
[3, 4] Forbes, Daniel Fisher

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