Today we have an exciting new interview with Dominik Thor who is the CEO of IPCHAIN Database. Quoting directly from their website, “IPCHAIN Database revolutionizes the protection of intellectual property (IP) through the use of Blockchain Technology and has been developed for the needs of scientists, inventors, artists, and companies in close cooperation with leading stakeholders in IP.” Let us learn more about Dominik, the team behind IPCHAIN Database, what makes IPCHAIN Database worth investing in, and where we can expect it in five years.
Dominik happy to have you here, could you start by telling the altcoin community about your background such as where you are from, what were you doing prior to IPCHAIN Database and how did you hear about cryptocurrency?
"Thank you for the invitation, I am very happy to be here. My background originally was banking and later I founded a small biotech company, which is focused on medical research and the development of new anti-aging technologies. This research is being done in close cooperation with a number of leading universities, which means I soon had to learn all about how to best protect the results of this scientific work. These results, the intellectual property, came essentially in two different forms — inventions we wanted to monetize as a company plus academic research which also needed to be protected against anyone else trying to file a patent with this information. I came across all the difficulties experienced by millions of other patent applicants and researchers and looked into a way how to best overcome them.
The idea to use Blockchain technology for that seemed logical to me but back then nobody thought about that. So I reached out to a close friend who as a former top financial markets guy back then already exclusively worked in crypto advisory and started to learn all I can about this technology. It turned out Blockchain can do much more than just protect inventions but instead is useful for all other types of intellectual property and we can also use it to safely share and transfer information. But not only for scientific intellectual property but also other types like art, games, music, videos, designs, texts or even corporate trade-secrets. That was the moment IPCHAIN Database was born."
You have an interesting team — from a token adviser, to a scientific advisor, to what looks like a relative. Could you talk about how you chose your team? Investors look at the team members more than we are willing to admit!
"Of course, they do. With so little transparency in the market the investors have to get a better understanding who they are dealing with. Given that IPCHAIN Database addresses the needs of a plethora of potential users — such as artists, scientists, inventors from the private, corporate or academic sector plus IP professionals and patent offices — we needed a diverse team to tailor the services of our platform to the needs of each user group. So naturally that means involving as many stakeholders as possible. One example is scientists, so we got ourselves a great advisor for that as well as a partnership with the Marie Curie Alumni Association, which represents some 10,000 researchers in Europe who form an amazing beta test crowd. We also have the Head of Legal of the worlds biggest IP law firm as an advisor and a former WIPO director. WIPO stands for the World intellectual property organization, a UN division and the highest authority in IP."
Could you discuss the partnerships with institutions, stakeholders, and universities that was established on December 2017.
"As previously mentioned we wanted to make sure that we have the support and input of important stakeholders at an early stage and during the development and testing stage. That is why we reached out to WIPO, all leading patent offices, Dennemeyer, the biggest IP law firm and active on 5 continents, a number of leading universities that could use IPCHAIN Database for their research efforts and other organizations representing potential stakeholders.
Our partners also allow us to come up with very specific use cases that we want to show the community. One of our advisors works in the management of Germany’s biggest game developer. They have more than 300 million users playing their games and he will help us offer game developers the chance to protect their code, in-game assets and game mechanics using IPCHAIN Database."
Consider that I am an average Joe that you meet at a gas station and we had small talk while pumping gas in our cars. I have heard about cryptocurrency and I am looking to diversify my portfolio. How would you explain IPCHAIN Database in a simplistic way for an average Joe like myself to understand?
"Imagine a tool that allows you to protect, safely store and share as well as buy and sell all creations of the mind. Inventions, art, scientific research, new ideas, concepts…all safe through Blockchain technology, immutable and decentralized. That is IPCHAIN Database. You can use it in any browser but you need the IP token."
Are there any working prototypes for the public to use or check out?
"We are working on a prototype that we will present to the public before our ICO and we will release a beta version around the time of the ICO so users can already upload data to the Blockchain and thus protect their innovation. A complete release of IPCHAIN Database with all functionalities described in the White Paper will happen later this year (2018)."
Who are your competitors and what differentiates IPCHAIN from them?
"We currently do not see any competitors. Some projects now seem to focus on individual aspects we already offer with IPCHAIN Database but none of them is as holistic. Also they do not have our partnerships or dedication to comply with all relevant legal standards. There is also a Chinese Company calling themselves “IpcChain” which leads to some confusion now and then. They claim something about Intellectual Property on their webpage but do not offer any comparable services. They want to develop a new public Blockchain to be used by companies such as ours without offering any services to users, whereas we have an open architecture that can use any suitable Blockchain and focus on protecting intellectual property. Similar names, but totally different business idea."
Could you go over some use cases of IPCHAIN?
"To avoid talking about science the whole time let us talk about art. Once you create art you own the copyrights to it but how can you prove that you wrote a piece ofmusic, made a movie, any digital art that can be easily shared? Witnesses, personal notes, web-pages and any conventional proof is often insufficient in proving your status as original author in court but IPCHAIN publications can ensure that nobody can use your creation without your consent and thus allow for the practical application of copyrights. Companies or private individuals can share confidential information or work they have created by simply sending a link and having the other party sign a non-disclosure agreement prior to accessing that information, which is also uploaded to the Blockchain as proof. What has been very complicated and required a lawyer now can be as easy as sending a link. It works similar for our marketplace where you can securely document the transfer of IP rights. Please take a look at our White Paper to see many more use cases."
What will the token be called as the pre-sale is on March 24, and how will the token benefit IPCHAIN Database?
"We call our token the IP token and it will be a true utility token required to access the services of IPCHAIN Database. So the millions of artists, inventors, scientists and companies using IPCHAIN Database to protect, safely share and transfer IP will require the IP token."
Where do you see IPCHAIN Database five years from now and how does IPCHAIN aspire to reach there?
"The token sale is only the beginning as we continue to strengthen our network. I have the honor to be invited to a large number of international conferences where I am talking about the implications of Blockchain for the IP sector and I also regularly meet with important stakeholders in this field, who are both very interested and highly supportive. I am absolutely certain that IPCHAIN Database has the potential to become an integral tool for the protection of intellectual property and as such part of the arsenal of not only IP experts but anyone who wants to protect his interests. That is way we are designing IPCHAIN Database to be highly intuitive and usable with any web browser."
What is the underlying technology of IPCHAIN Database(Proof of Authority)?
"Our platform has an open architecture once it stored the intellectual property information using IPFS, the hash is then stored on any suitable public blockchain. We use Ethereum for its high amount of nodes and security for now but may switch to other suitable blockchains in the future."
Will all publications be posted on a public blockchain that everybody can see when and who posted what?
"The user decides whether he wants to publish an information that is openly accessible or privately stored instead."
Additionally, how will it be accessed?
"Simply with your browser."
Anything else that you would like to mention to the Altcoin Community?
"IPCHAIN Database represent a totally new use case for Blockchain technology and in the context of IP this amazing technology has disruptive potential clearly seen by all stakeholders. Even the official WIPO magazine has covered this story in their last edition. If you want to learn more make sure to visit our webpage, telegram group and other social media channels."
IPCHAIN seems to have a solid purpose as to fixing a real world problem. Though they do not have a product that the public can try out yet, Dominik has promised us that it is on the way later this year. Being in an digital age, where information and media articles are shared across the globe within a matter of seconds, finding the original author of content that is shared to the masses is being increasingly difficult. With IPCHAIN, they aim to solve that problem. I will be following the project up and perhaps snag some tokens just for more diversification. Getting in early always has its benefits!