As the intellectual property (IP) industry has grown, so have issues with entities trying to artificially capitalize on IP. “Patent Trolls,” which are companies who buy up patents and make money on licensing them as opposed to producing their own original products or services, are particularly damaging to growth and innovation. Companies like NPER are seeking to change that and put control back in the hands of innovators.
How is NPER Helping Protect Intellectual Property from Patent Trolls?
During a recent interview with the International ICO Channel, NPER’s co-founder, Daniel Nam discussed the benefits of blockchain technology in the fight against patent trolls and other threats to innovation. As a decentralized technology, blockchain is uniquely adapted to disrupting the current system.
NPER is using blockchain to create a decentralized exchange where people can freely trade IP online. It will also form a kind of database where creators can check to see which patents are being held and if their product or service could be targeted for litigation.
Since blockchain is not owned by a single entity and includes multiple levels of information protection, it is the best technology to track and analyze this data. With this, NPER is further helping make it possible for anyone to safely participate in, and contribute to the IP industry.
NPER on a Global Level
As a South Korean company, NPER holds an ideal position for becoming a major player in the IP and crypto trading industries, as this is a hotbed country for crypto activity. Even as there are concerns over the Korean government’s potential regulations over crypto, this will primarily affect local markets and not global trading as much.
With their first record-breaking presale raising nearly $5 million in only 22 minutes, Nam predicts that NPER will continue with their successful funding and their vision for decentralizing trade in the IP industry.
To learn more about exciting developments with NPER, follow them on Twitter @NPERproject