Along with the appearance of Bitcoin and its underlying foundation, namely the blockchain technology, many different and new concepts started arising in the tech world. Blockchain is really under the spotlight these days, entering and changing many different areas and fields, some of them not even related to the tech industry.
One of blockchain’s key concepts is decentralization. This technology stores data in its peer-to-peer network, thus eliminating several risks that arise from a model where data is locally stored – and blockchain’s decentralized model was immediately adapted to applications, often called dApps (decentralized apps).
While there is not a definitive definition for what a dApp is, BlockchainHub has a very nice approach:
“Decentralized applications (dApps) are applications that run on a P2P network of computers rather than a single computer. (…) They are a type of software program designed to exist on the Internet in a way that is not controlled by any single entity.”
One of the world’s largest marketplace for dApps is UpChannel which, along with its custom token Spire (SPI), has access to more than 1.5 million devices in 105 countries. Now, on recent news, it has been announced that UpChannel will join efforts with Loci, a platform for intellectual property discovery, creation, and exchange, so that everyone can easily have access to these benefits.
Loci’s platform uses a proprietary patent search engine, called LOCIsearch, so that inventors and creators can know if their product is patentable or not right off the bat, in a much easier and faster way than what usually happens nowadays. Charlie Hulcher, Head of Technology at Spire, explains why Loci’s platform is useful to have in UpChannel:
“Sadly, theft is rampant in emerging markets. And the targets are not just cash, they are ideas, which can be even more valuable, especially to global corporations. By cultivating and simplifying the invention process for inventors and entrepreneurs through the Loci blockchain based platform, Spire can help drive the upward economic mobility of people in these markets.”
On Loci’s behalf, CEO John Wise shared his views and hopes for this partnership:
“Spire’s combination of massive distribution and a clear focus on emerging markets makes them a force of nature in the crypto space. By providing inventors and entrepreneurs in these markets with IP safeguards, Loci can help them safely expand beyond their village or town, into the global marketplace.”
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