IPChain Association has entered into a partnership agreement with one of the largest developers and providers of blockchain solutions Bitfury Group, the President of the Association Andrey Krichevsky informed TASS on Friday.
“We significantly expand the functionality of services and bring to the market new projects dedicated to development of industry-specific business needs,” he said. According to Krichevsky, to expand the functionality of services operating in IPChain infrastructure, and in particular, a crowdinvesting platform for financing creative and IT projects CO-FI, Bitfury will develop a loyalty system based on Exonum software.
It is expected that all calculations and investor relations with projects hosted on the CO-FI platform will be recorded on the Bitcoin blockchain, which will provide reliable protection of the interests of each participant in the transaction and exclude forgery or data modification.
Chairman of the CO-FI Board of Directors, Alexander Sukhotin, noted that the Exonum-based loyalty system would significantly expand the functionality of the CO-FI platform and build a multi-level loyalty program that interacts through blockchain registries with all platform components. “The cooperation of the CO-FI crowdlending platform with IPChain infrastructure and Bitfury will make a significant contribution to the comprehensive development of the lending institution secured by intellectual property in Russia,” he said.
In the framework of cooperation with IPChain, Bitfury will participate for the first time in the implementation of a project related to intellectual property in Russia. The Head of Bitfury Russia Dmitry Ufaev noted that Exonum is one of the most successful products developed by the team. “The implementation of the framework (software – TASS) for protection of intellectual property rights and interaction of copyright holders with investors, is a new area for us, but our team has sufficient expertise to solve the task,” he said. Ufaev recalled that the tool provides data protection, transparency of actions of every participant, audit, and access to information in real time.
IPChain, the National Coordination Center for Processing Transactions with Intellectual Property Rights and Objects, was established in 2017, its founders are the Skolkovo Foundation, Russian Organization for Intellectual Property, the Higher School of Economics, Russian Union of Rightholders, St. Petersburg National Research University of Information Technologies, Mechanics and Optics, Russian Authors’ Society, Partnership for the Protection and Management of Rights in the Sphere of Art, and “Novy Vek” Bank. The goal of IPChain is to form a national network of transactions of intellectual property rights and objects, on the basis of which various market participants will be able to build services for distribution and protection of intellectual property.