The project will attract several participants, including patent attorneys, patent specialists, and lawyers.
Roscosmos has started testing IP protection solutions built on the Waves Enterprise blockchain.
Russia’s Roscosmos state corporation is implementing a platform based on blockchain technology to protect the intellectual property of organizations in the rocket and space industry.
The corporation’s website stated that it started using the feature on the Waves Enterprise blockchain to identify violations of intellectual property rights of firms and institutions within the industry.
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The solution also has another benefit of providing non-monetary rewards while using smart contracts to detect IP infringement cases. As part of the reward program, the participants will be given “cosmotokens” which they can exchange later for merchandise from the agency.
The WAVES token was trading at $20.07 at press time.
Trading volume for the cryptocurrency was up over 790% in the past 24-hours as the token reached $2.14 billion in market cap, while 47% of supply is locked up in DeFi contracts.
Why It Matters: The Waves ecosystem is fairly extensive, leveraging three blockchain protocols: decentralized exchange Waves, DeFi platform Neutrino and cross-chain oracle network Gravity. The idea was to provide developer-friendly infrastructure to create new products with the potential for mass adoption.
This hasn’t been limited to a particular industry, as seen by Waves most recent partnership with Russian space agency Rosmocos. The space agency uses an IP protection solution based on the Waves Enterprise blockchain platform to maintain and verify a database of IP data.
Roscosmos Deploys Blockchain-Backed IP Guard Solution Designed by Waves Enterprise
2 hours ago by Benjamin Godfrey · 3 min read
Photo: РОСКОСМОС / Twitter
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The participation in the Roscosmos IP Guard service comes with a lot of incentives as users get rewarded for identifying any violations.
Russian Space Agency, the Roscosmos State Corporation has tapped into the blockchain technology capabilities of Waves Enterprise to launch the IP Guard service to protect the Intellectual Property rights of key stakeholders including individuals and companies within the rocket and space industry.
According to the official announcement, the IP Guard service is billed to draw participation from various professionals including “patent experts, patent attorneys, lawyers and simply caring citizens who can help copyright holders reduce the time and cost of detecting violation.”
Altcoin Watch
Nonfungible tokens (NFT) have handsomely rewarded early investors over the past few months, especially as they gained mainstream attention thanks to record-breaking digital art sales and well-known influencers like Paris Hilton throwing their support behind the sector.
April has seen the hype behind NFTs quiet down some, but the recent growth in Waves (WAVES) shows that there is still plenty of excitement remaining in the cryptocurrency community for newly released NFT projects.
WAVES/USDT 4-hour chart. Source:
Data from Cointelegraph Markets and TradingView shows that the price of Waves has increased 320% in 2021, climbing from a low of $4.86 on Jan. 4 to a new all-time high at $20.82 on April 9 thanks to a record $883 million in 24-hour trading volume.
Russian Bank VTB Completes Blockchain-Based Guarantee for Mobile Network Carrier
Last Updated: 22 December 2020
Russia’s newfound love for blockchain technology and cryptocurrencies has been one of the most exciting developments in the industry this year. While the government continues to clarify the crypto laws applicable in the land, a private firm is marking a significant milestone with the technology.
Cutting Time and Inefficiencies
Last week, VTB, the second-largest bank in Russia, completed a new blockchain-based bank guarantee for MTS, Russia’s largest mobile cellular network carrier. The announcement explained that VTB had issued a contract to fulfill about 392 million rubles ($5 million) in payment obligations.