The Russian Intellectual Property (IP) court has successfully used a blockchain-based solution for storing copyright data, according to Russian news agency TASS.
The court used blockchain solution provider IPChain‘s system to record a change in rights holder data of an IP thus saving the data on the decentralized ledger permanently. IPChain president Andry Krichevsky called the recording of change and blockchain’s use by the Russian judicial system “a definitive breakthrough”.
IP Court representative Ludmila Novoselova said that the court will expand its technical support, hoping to have all legal disputes settled online within the next five years.
IPChain specializes in digital ownership of assets, particularly intellectual property ones. Krichevsky is a strong proponent of blockchain for storing copyright data. The immutable and fast characteristics of decentralized technology make it the perfect tool in an environment where IP rights being kept up to date is crucial.
The IP recording platform is already working for the government of Uzbekistan, helping it record copyright data, especially in science and innovative sectors. IPChain has also penned a deal with Kyrgyzstan’s State Patent Office, helping them digitize and store records in a decentralized environment.
Russia is working seriously on deploying blockchain solutions for a number of different sectors. It recently announced a national level partnership with India to work on a number of technologies that include blockchain.
A major Russian bank, Sberbank, is partnering with state-run energy provider Rosseti to promote blockchain. Even the Russian State Nuclear Corporation is looking into developing a blockchain based system to make their operations more efficient.
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