Russian IPChain Association Will Digitize Kyrgyzstan's Patent Records

The Russian National Intellectual Property Transactions Coordination Center will digitize patent records and create a Blockchain-based database for the State Patent Office of Kyrgyzstan, news outlet TASS reported April 12.

Rey Krichevsky, president of the IPChain association, said that the agreement between the association and representatives of KyrgyzPatent was signed at the IPQuorum forum, which took place in the Kaliningrad region of Russia.

This is reportedly the first time that the association's technologies will be applied outside Russia.

"We have signed an agreement with KyrgyzPatent, which is very important for us. On their basis, we will develop a pilot project, a kind of ideal patent office. We will try to apply the latest technologies, digitize patent records, build the database architecture."

IPChain is a non-profit organization founded by an initiative of Skolkovo Foundation and the Russian Organization for Intellectual Property.

It focuses on the development of standards and technologies between intellectual property rights holders on the basis of Blockchain, according to the association's website.

Government entities around the world are gradually embracing Blockchain technology, especially when it comes to data storage and securing information.

Earlier this week, the UAE government announced the launch of its "Blockchain Strategy 2021", of which one goal is to reduce work hours and expenditures for document circulation.

The US Patent and Trademark Office published Bank of America's application for a patent on a Blockchain-based storage system with automated data authentication.

The technology in the patent would provide a streamlined storage system with a built-in mechanism for authenticating records and issuing permission to providers.