An intellectual property court in Russia has successfully tested a blockchain network for storing copyright data. According to a Russian major news agency, TASS, the technology was used for the first time around the judicial area on Monday, December the 3rd.
Following successful tests of the technology, IPchain’s president Andrey Kritchesky termed the use of the technology as “definite breakthrough”. Andrey is of the belief that the technology will boost interoperability in the copyright market as it allows information stored to be kept up to date.
A report by TASS indicated that an intellectual property court representative, Ludmila Novoselova, hinted that technology would evolve further with all legal disputes being settled online in the next five years.
IPchain had previously partnered with the Uzbek government to deploy a similar system in their local copyright sphere especially in the field of science and invention. The success of the technology has reportedly caught the eye of Spanish public authorities who are now exploring its use in the copyright area.
Earlier this year, the Spanish society of authors and publishers together with the Madrid school of telecommunications announced that they would be researching blockchain use in copyright management.
