Blockchain reshapes the IP foundation with a Web3-ready framework

An expensive approach to authenticate possession becomes important in a world of stolen prosperity.

In today’s society, there is no lack of concepts, with new ones emerging every day, if not every hour. Concepts, on the other hand, are far more potent than they appear at first glance. Imagine how a concept becomes a reality—a new product or a remedy to a huge world issue—with little funding and the aid of a smart team. With so much at stake, it’s no surprise that the desire for acknowledgment of a human characteristic.

Regrettably, it is fairly uncommon for the initial concept development to be overlooked, and history is replete with instances of acknowledgment of this.

In 1871, Antonio Meucci invented the first voice-communication apparatus, even though Alexander Graham Bell invented the telephone. The distinction between the two is that, unlike Alexander, Antonio did not pay the full price required in his patent.

The saddest aspect is that the creation of the cellphone was not a one-off occurrence. In a more current example, Meta (formerly Facebook), which has grown to become the world’s largest social network, was the subject of a massive lawsuit when the Winklevoss twins sued Mark Zuckerberg for stealing an invention. The twins reportedly teamed up with Mark Zuckerberg to continue bringing their concept to life, an occasion that went viral.

These past precedents indicate that one’s ideas (or proprietary information) are not secure on their own. Rather, in a society of stolen accomplishments and misplaced credit, a single statement of reference becomes critical to establishing control.

Nonfungible tokens (NFTs), for example, are a distributed technology that directly tackles these issues. Each NFT is built with the capacity to maintain irreversible control of a single data object. InvArch is leading the charge in building a new framework for Web3 that will allow the usage of NFTs for IP on a bigger scale. To add to the discussion, one of the team members gives the following information “Rather than attempting to specify the criteria for how IP should be maintained, InvArch completely overhauls the foundation for IP, allowing the laws to be changed to strengthen and protect people in the future. The web, like the rest of the world, is evolving, and IP addresses are no exception.”

Web3 IP is built on this foundation

The Invention, Involvement, Inventory, and Investment (INV4) method is one of these technologies, and it offers a framework for all the resources in the InvArch system. These resources could be any of the Web2 files, directories, or permits that many people already are aware of, which are then combined with Web3’s non-fungible and exchangeable token systems.

Increasing the roadmap’s effectiveness

Inverloch has seen several accomplishments on its way to laying the groundwork for Web3 IP, including funding from the Web3 Foundation, acceptance into the Substrate Builders Program, and a current seed financing of $1.75 million.

The team discusses upcoming milestones on their plans, such as the launch of the Tinkernet para chain on Kusama and the introduction of the InvArch protocol.