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Russian Organization To Build Blockchain-Based Patent Registry For Kyrgyzstan

By

Adam

Reese

WriterETHNews.com

A Russian non-profit has signed an agreement stating that it will build a blockchain database to house the “patent archives” of Kyrgyzstan’s patent office.

Russia's IPChain Association has signed an agreement with representatives of the Kyrgyz government to digitize the archives of Kyrgyzstan's patent office and develop a pilot version of a blockchain-based database to store them, according to Russian state-owned media outlet Tass.

On April 12, IPChain Association president Andrei Krichevsky revealed that his organization had inked the accord at a forum that the Association co-organized.

It appears that the State Service of Intellectual Property and Innovation Under the Government of the Kyrgyz Republic, also known as Kyrgyzpatent, has not committed to adopt the yet-to-be-built platform. All the same, Krichevsky says that the project, his organization's first outside of Russia, will prove a valuable opportunity for "working out ideas."

The Association, also known as the Russian National Intellectual Property Transactions Coordination Center, describes itself as a "non-profit corporate organization" with goals that include developing "standards, technologies, and tools" related to the intersection of intellectual property and digital platforms. It aims to "promote Russian intellectual property services among foreign legal entities and individuals, especially in the countries most actively involved in trade and economic cooperation with Russia (Eurasian Economic Union, BRICS, etc.)."

Recently, regulators from each of the five Eurasian Economic Union (EAEU) nations – Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia – took part in a meeting of what has been dubbed the Joint Payment Area Working Group. Those present at the gathering "stated their willingness to continue cooperation in the exploration and prospective use of the distributed ledgers technology as part of the cross-national financial messaging and settlement system."

Russian officials have previously suggested that the EAEU countries should work together to align their policies on cryptocurrency regulation and that they should all share an official "virtual currency."

Adam Reese

Adam Reese is a Los Angeles-based writer interested in technology, domestic and international politics, social issues, infrastructure and the arts. Adam holds value in Ether, Bitcoin, and Monero.

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