At the World Economic Forum conference in Davos, IPwe Inc. and Casper Labs announced a historic move to convert 25 million patents into dynamic NFTs.
The announcement represents one of the most significant enterprise implementations of blockchain technology and marks the realization of a long-theorized use case for NFTs.
IPwe is a digital intellectual property management company that provides IP services through artificial intelligence and blockchain. Casper Labs (CSPR) offers a business-focused proof-of-stake blockchain with a market cap of $401 million at the time of writing.
Leann Pinton, president of IPwe, described digital assets as “a revolutionary technology” when promoting the Patent Mint.
“IPwe is proud to announce the issuance of 25 million patent NFTs to facilitate the digital transformation of IP. IPwe Digital Assets is a revolutionary technology that truly delivers on the promise of blockchain for enterprises. is embodied in
The NFT blockchain solution, called IPwe Digital Assets, was developed by a partner company leveraging “permitted distributed ledger technology”. In addition to proprietary networks, the project leverages “open source Hyperledger Fabric and public Casper blockchain” to protect information.
A global leader in data and analytics, Clarivate provides the data that underpins blockchain. IPwe describes the solution as providing a “simple and transparent digital representation of asset ownership” for patents.
Hyperledger Foundation Executive Director Daniela Barbosa said:
“The innovation and scale of this deployment demonstrate the power of hybrid networks to manage critical assets in a secure, highly efficient, yet transparent and accessible manner.”
Tokenization of the patent process is “verifiable proprietary data and auditable, [and] We classify “Compliant Aggregated Evidence Records” as a sector critical to global business.
Casper Blockchain’s native token, CSPR, fell 6% the day after the news. Integrating permissioned blockchains with public networks causes division within the cryptocurrency industry. Many see an open and transparent blockchain as the only faithful implementation of the technology. However, through this new project, Casper Labs and IPwe show the potential to integrate public and private networks in enterprise products.
