Kakushin: the future of the global multi-billion dollar intellectual property market

What is happening is not surprising, WIPO statistics show that global intellectual property markets are generating approximately $ 180 billion in licenses each year. Intellectual property has become 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 corporate world. Could you think of a world where intellectual property is protected with an open blockchain that manages millions of dollars in protected rights?

Kakushin, an ecosystem driven by decentralized innovation and intellectual property, has opened the door for innovators to list their patents and intellectual property (IP) with the World Intellectual Property Organization (WIPO), which is a self-financing agency of the United Nations with 191 member states. We know from WIPO data that worldwide intellectual property filing activity has been on the rise. The data indicates that the number of patents filed between 2015 and 16 only registered a growth of 8.3 percent.

Intellectual property on Blockchain

Applications for intellectual property have increased for seven consecutive years. It is in this context that Kakushin has greatly reduced the difficulty that innovators face in establishing basic copyright protection for their innovations and in reducing the harmful effects of copyright violations.

Patents are more than just protection of intellectual property, they are also valuable assets for innovators. Kakushin is making it easy 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 powers is a blockchain-based solution that ensures investors get a stake in the project they have chosen to support. Innovators break free from geographic constraints as the ecosystem transcends borders and is a truly global solution.

Kakushin blockchaining IP with WIPO

The patent process itself is also fraught with difficulties and navigating this minefield can be challenging for new entrants; makes a mistake at the patenting stage and all the hard work of an inventor goes to waste. To that end, Kakushin’s partnership with WIPO is critical. WIPO works to create an effective and balanced international intellectual property system. WIPO member states create the foundation on which the global intellectual property system is built, supported by treaties and conventions facilitated by this international organization. While WIPO itself does not grant patents, which is the responsibility of national or regional patent offices, it does facilitate international patent protection under the PCT system.

Kakushin is the first all-in-one solution of its kind for the innovation and intellectual property industry that will offer an innovative blockchain-based environment that works with the WIPO framework, Kakushin Ecosystem is a Hyperledger-based platform that is powered by smart contracts and manual verification of all documents and smart contract auditing between all stakeholders involved in an IP to safeguard the interest of stakeholders and make the IP easily available to be shared with others (may or may not be for benefits monetary) in the virtual world. While Kakushin Ecosystem is a brand of Prius Labs Pty Ltd, Australia, it follows all steps and guidelines prescribed by WIPO that must be followed in the real world. Therefore, Kakushin Ecosystem works 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 in a virtual / digital registry and based mechanism. in smart contracts for the protection, management and monetization of intellectual property rights.

Sachin Bhargava, Co-Founder and Technical Director of Kakushin Ecosystem, said that:

“We want to create a world where a unique and creative idea gets resources that can drive the most fiscally amazing innovation, so that innovators don’t have to search for anything, Kakushin is a fully integrated platform to turn their idea into a viable product.”

A decentralized platform for incubation and protection of intellectual property

Kakushin’s blockchain-based incubator works on a community-driven blockchain approach. The all-encompassing ecosystem touches all participants throughout the innovation lifecycle. The Kakushin Nursing and Incubation Center takes a 360 ° approach to ICOs, from knowledge dissemination, investment facilitation, ICO launch, to the ability to track existing ICOs into innovative and green products and ideas. Kakushin’s approach is essentially focused on efficient market validation and risk mitigation. The integrated exchange, which accepts the Kakushin Token (KKN), allows investors, buyers and inventors to access the entire innovation ecosystem.

As Kakushin focuses on building a community that supports and nurtures innovation, they are taking the crowdfunding approach to support the project. The Kakushin pre-sale is in progress and will end on May 31, 2018. Kakushin has more than + 18K members in the official Telegram community. The main token sale will start on June 1, 2018 until June 30, 2018. During the token sale, 2.4 billion KKN will be sold, which is ERC20 compliant and based on the Ethereum blockchain. There is a soft limit of US $ 4 million and a hard limit of US $ 30 million on the sale. Kakushin has published a whitepaper detailing the technical and other aspects of the project.