nChain, an enterprise-grade blockchain company, and IPwe, today announced nChain as the first Founder of the Blockchain Smart Pool. This new mechanism provides established businesses and entrepreneurs an accessible path to build blockchain-based solutions through a robust portfolio of patents, starting with over 1,250 patents and patent applications from nChain.
Blockchain Smart Pool Highlights:
• The Smart Pool can facilitate the adoption and product development needed for blockchain technology to become part of global technology infrastructure.
• The Smart Pool was launched less than one month ago and already has over 40 members.
• Tiered pricing starting with free membership for small and medium-sized enterprises (SMEs) with annual revenues of less than US$1 million making participation easy for SMEs.
• US$500 memberships for SMEs with annual revenues of between $1 million and $10 million.
• Pricing for the largest enterprises in the world with revenues over $10 billion is US$225,000, which is significantly less than typical pricing for patent pools in other industries.
• Participation in the Smart Pool does not require members to make long-term commitments of their innovations.
• Through membership, participants reduce their due diligence efforts required to assess existing inventions and thus more efficiently manage a key commercial risk with the opportunity to build on and improve innovation in the blockchain ecosystem.
“nChain has made a significant investment in blockchain innovation and we are confident our patent portfolio represents one of the most valuable collections of IP in the industry. That said, we are in the early stages of a technology that we believe will become as prevalent in enterprise IT solutions as cloud infrastructure is today and to achieve this level of penetration, we want to see ecosystem-wide growth,” stated Hakan Yuksel, CEO of nChain. “We are confident our products and solutions have a unique value proposition and our success will be bolstered when the enterprise blockchain ecosystem grows overall. Becoming a Founder of this Smart Pool is an intelligent way to make this happen.”
“Entering the blockchain space in 2018, we identified Dr. Craig Wright and nChain as top five global innovators. We have established Smart Pools in high growth technology areas like the metaverse and digital link to encourage adoption, protect SMEs and deter abusive behavior. They are economically simple, lower the cost of compliance to attractive levels and include significant upside benefit,” stated Erich Spangenberg, CEO of IPwe. “We saw other potential solutions in the blockchain market but found they all constrain the ability for SMEs to grow and develop competitive commercial positions. With our offering, potential financial returns are compelling for both Founders and Members, especially SMEs. We look forward to announcing additional global innovation leaders as Founders and Members in the coming weeks.”
By attracting the right global Founders, namely those with important innovations to offer the world, and in leveraging the IPwe Platform to offer standardized licensing terms at the lowest rates available, IPwe and nChain expect the Blockchain Smart Pool to be a leading hub for those driving utility-based applications of blockchain technology.
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