Kakushin is the future of the multibillion-dollar global intellectual property market

What is happening is not a surprise, statistics from SAIU show that global intellectual property markets generate about US$180 billion annually from licensing. Intellectual property has proven to be the most important asset in the 21st century. What used to be a quiet corner of the tech business is turning into a hot spot in the legal and business world. Could you imagine a world where IP is protected by a single open blockchain that manages millions of dollars worth of protected rights?

Kakushin, a decentralized ecosystem driven by innovation and intellectual property, has opened a gateway for innovators to submit their patents and intellectual property (IP) to the World Intellectual Property Organization (WIPO), a self-financing United Nations agency of 191 states- members. From the SAIU data, we know that global intellectual property filing activity is increasing. The data shows that the number of patents filed between 2015 and 2016 alone increased by 8.3 percent.

Intellectual property on the blockchain

The number of applications for intellectual property has been increasing for seven years in a row. It is against this background that Kakushin significantly reduced the difficulties faced by innovators in establishing basic copyright protection for their innovations and in mitigating the harmful effects of copyright infringement.

Patents are more than just IP protection, they are also valuable assets for innovators. Kakushin makes it easier for innovators to work together on IP. The project creates an environment in which innovators can pitch their ideas and increase their recognition among investors. This reduces the problems associated with neophobia. Kakushin removes the uncertainty associated with crowdfunding and ushers in an era of transparency. The Kakushin Innovation Ecosystem is a blockchain-based solution that ensures investors get a stake in the project they choose to support. Innovators are free from geographic limitations, as the ecosystem transcends borders and is a truly global solution.

Kakushin blockchain IP from SAIU

The patenting process itself is also beset with difficulties, and navigating this minefield can be a challenge for new entrants; make a mistake at the patenting stage and all the inventor’s hard work will be wasted. Kakushin’s partnership with SAIU is very important for this. SAIU is working on creating an effective and balanced international system of intellectual property. SAIU member states create the foundation on which the global intellectual property system is built, supported by treaties and conventions maintained by this international organization. Although SAIU itself does not issue patents, which is the responsibility of national or regional patent offices, it contributes to international patent protection within the PCT system.

Kakushin is a first-of-its-kind end-to-end solution for the innovation and IP industry that will offer a blockchain-based innovation environment that works with the SAIU framework. Kakushin Ecosystem is a Hyperledger-based platform that is driven by smart contracts and manual verification of all smart contract documents and audits between all IP stakeholders to protect the interests of stakeholders and make IP easily available for sharing with others (may or may not be for monetary benefits) in the virtual world. While the Kakushin ecosystem is a brand of Prius Labs Pty Ltd, Australia, it follows all the steps and guidelines prescribed by the SAIU that must be followed in the real world. Therefore, the Kakushin ecosystem works as a facilitation service provider for its clients and provides them with the services offered by the real-world AIPO plus the fact that AIPOs and other patent offices lack virtual/digital records and a smart contract-based mechanism to protect, management and monetization of intellectual property rights.

Sachin Bhargava, co-founder and CTO of Kakushin Ecosystem, said:

“We want to create a world where an inventive and unique idea gets the resources that can support the most amazing innovations from a financial point of view, so innovators don’t have to look for anything, Kakushin is a fully integrated platform to turn their idea into a viable product. “

A decentralized platform for IP incubation and protection

Kakushin’s blockchain-based incubator is based on a community-driven approach to blockchain. A comprehensive ecosystem affects all participants in the entire innovation life cycle. Kakushin Incubation and Nursing Center takes a comprehensive approach to ICOs, from spreading knowledge, facilitating investment, launching ICOs to providing tracking opportunities for existing ICOs in innovative and environmentally friendly ideas and products. Kakushin’s approach essentially focuses on effective market testing and risk reduction. The integrated exchange that accepts the Kakushin token (KKN) allows investors, buyers and inventors to access the entire innovation ecosystem.

Because Kakushin is focused on building a community that supports and fuels innovation, they are using a crowdfunding approach to support the project. The Kakushin presale is ongoing and should end on May 31, 2018. The official Kakushin community has over 18,000 members. The main token sale will run from June 1, 2018 to June 30, 2018. During the token sale, 2.4 billion KKN will be sold, which are ERC20 compliant and based on the Ethereum blockchain. The sale has a soft cap of US$4 million and a hard cap of US$30 million. Kakushin published a Whitepaper detailing the technical and other aspects of the project.