According to Loci, the global invention process is fundamentally flawed. There are enormous sums used in research and development. This is due to ineffective intellectual property law and outdated research and development process. Loci is a decentralized platform that wants to change the way the world invents and thinks. It is a platform for intellectual property discovery and mining. The platform has built a context based search tool that draws from an expansive database to combine an array of resources and information that inventors provide.
Benefits of Loci
There are many benefits that you are set to enjoy once you decide you’re the Loci platform. Users can discover, sell IP and stake ownership on the integrated IPO asset Exchange. Other benefits and uses of the Loci Platform include:
- Search: users can browse the world of patents with a powerful search tool that shows the contact of what you want or what you are looking for.
- Discover: users can use the Loci Platform to understand where their idea stands and how to pivot it to fit in the Current IP landscape.
- Own: you can claim immutable proof of ownership of your ideas using the Ethereum based blockchain.
- Exchange: the advantage of your Loci platform is that you can skip the risky and expensive patent process and get a much quicker alternative to monetize your idea.
Loci platform uses the Loci coin as its native utilitarian coin. The LOCIcoin is an ERC20 compliant token which is sent back to your wallet immediately after a successful transaction. The utility token can comment on secondary trading of the token or the exchanges that list it. The token can also be used to gain access to loci’s services and products. It is an integral asset to the InnVenn Platform.
Who is behind Loci?
Loci are led by CEO John Wise, who is a patent industry subject matter expert. Others in the team include Eric Ross, Director of technology, Brian Hwang, Director of operations and Harjit Singh the lead Backend developer. The aim of the team is to create a non-profit organization for funding research and development process.