PatentChain

A Modern Innovator needs a Modern Solution

Created on 29th January 2023

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Problem Statement -

Cost - The current system of Patents is flawed with its increasing costs which include application fee, lawyer fee for filing of application.
Region Specificity - The current system allows the inventors to patent their innovations only valid in a certain region or territory. This further adds up cost because you would have to re-apply for those patents for non-treaty countries to prevent Intellectual Property theft.
Unease of Application - The current system being lengthy and tedious can easily be seen as a loophole in a modern society where each upcoming platforms are all digital. The solution eases the process of application and reduces delay in processes.
Lack of Modernization - With the implementations of web 3 intesifying in day-to-day softwares, it makes sense to utilize it for its benefits.

One of the major challenges was to acclamatize myself with the web 3 tech stack and integrate smart contracts with the usual web 2 tech stack.
Figuring out the best way to implement the idea in such a way that it works without gaining too much complexity.

Tracks Applied (3)

The project fits into the Ethereum Track in 2 ways - 1) It uses metamask for authentication enabled by ethers.js. 2) It ...Read More

Polygon

The project utilizes the filecoin/ipfs ecosystem to mint NFTs as a token of ownership for the innovator as in the a digi...Read More

Filecoin

This project fits into the Open Innovation Track because it utilizes the basic principle of the track which lies in find...Read More

Technologies used

Solidity

React

Node.js

MetaMask

JavaScript

Ethereum

NFT

Hardhat

IPFS / Filecoin