Casper blockchain is the gamechanger for businesses and governments managing patents. See how CasperLabs helped IPwe pioneer a better way to protect, license and trade intellectual property.

Intellectual property (IP) can be a source of tremendous competitive advantage, yet it is often lost or stolen, because it is more difficult to track and manage than other assets on the company balance sheet. Our client, IPwe, envisioned a new infrastructure that represented patents as Non-Fungible Tokens (NFTs), so that every patent could be verified, stored and sold/licensed via a public blockchain.

Challenges
How to create a secure, streamlined platform for searching, selling, buying or licensing patents?

How to lower the cost of verifying authenticity and trading patents, while increasing transparency?

How to unlock the value of IP assets on the balance sheet by transforming them into verifiable, high performing sources of revenue?

Solution
CasperLabs built an NFT-based chain of custody (CoC) solution for public patent records on the Casper public blockchain. Patents are created and securely stored as NFTs, so that they are traceable and tradable. Our ability to deliver real-time proof of ownership makes patent transactions simpler and more cost-efficient, and lays the foundation for a consortium of patent owners, patent offices and verifiers to grant, publish, own and transfer patents.

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