How does one protect an idea, anyway? It is a cryptic concept—yet vital when it comes to intellectual property and product funding rounds.
It is this intellectual right which DECENT, one of the world’s first blockchain companies, plans to preserve by launching Digital Proof—a service that promises to protect ideas from theft by protecting their creation with cryptography.
The platform takes legal documents from the analog to the digital—instantly proving the “when” and “where” of any given document. This helps to protect pitching entrepreneurs, remove legal variabilities and create a safeguard on a global level.
Digital Proof records are then available in court disputes to demonstrate document creation—something which is increasingly used by progressive global jurisdictions to prove ownership. For example, China’s Supreme Court ruled last year that evidence authenticated with blockchain technology is binding in legal cases.
By being stored on blockchain—an immutable and transparent digital ledger—all recorded certificates are time-stamped with precision and stored permanently.
“In this digital era, it can be difficult to present legitimate evidence that can’t be tampered with,” says DECENT CEO and Founder, Matej Michalko.
“This fact can be considered especially in correlation with how easy it is to manipulate and exploit evidence by using computer technology. With Digital Proof—and blockchain as its underlying technology—we’re determined to efficiently change these deep-rooted, routine processes by safely recording ideas, patents and documents in an immutable digital ledger that meets all legal requirements and can even be presented as compelling evidence in court.”
Digital Proof aims to replace the traditional notary with a service which is cheaper and more secure. The platform, which takes only minutes to officially protect intellectual property ownership, could save countless hours and dollars in disputes.
For more information or a free trial of the product, the company entices those interested to visit Digital Proof.
Disclosure: This article includes a client of an Espacio portfolio company