The senior NGO of the Russian Authors Society (RAO) will launch a blockchain-based financial platform for loans secured by intellectual property, according to the Russian newspaper TASS 16 November.
The CEO of RAO, Alexander Sukhotin, has revealed that the project, called CoFi, is at its final stages of development and will be launched in the first quarter of 2019. The platform intends to bring together potential owners of intellectual property rights and investors ready to provide loans funds.
The intellectual property market is facing a significant need for a system that allows direct communication between rights holders and investors, in order to issue loans secured by patents and other forms of intellectual property, Sukhotin said in a round table entitled "Cult & Tech: New Content Economics" at the St. Petersburg International Cultural Forum.
The Director-General of RAO also noted that the upcoming blockchain platform will not be limited by the type of intellectual property, but will include patents, musical works and visual art. At present, the company is looking for experts who evaluate various forms of ownership, said Sukhotin.
Recently, the State Tretyakov Gallery in Moscow has announced the launch of a system of artistic patronage based on blockchain that allows entities to make private donations to digitize a certain object from the gallery collection, thus becoming the patron of the work of art. 39; art.
Previously, the head of the main Russian state bank Sberbank predicted that the adoption of blockchain will take place on an industrial scale in one or two years, claiming that "the hype around technology is over" and the blockchain is now " entering the industrial development phase. "