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Decentralized Patent Auction Market with Machine Learning 

- Patentibus -

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Welcome to the Patent Foundation's open marketplace. This market serves to raise funds for the Patent development project by auctioning Patents to interested parties. Using this interface, patent owners can create record ownership, licenses, and assignments. Each transaction is stored permanently on Ethereum and an Inter-Planteary File System (IPFS) called Pinata. Note you will need Pinata API Keys. Navigate to Kovan Etherscan to explore the transactions performed by the smart contract on Kovan Etherscan.
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MACHINE LEARNING & BLOCKCHAIN. Columbia Finance Bootcamp Project 3


Blockchain is a digital-ledger that is tamper-proof and auditable. The ledger is used as a common source of truth between parties who must transact, but often do not (or cannot) trust each other. Without shared, immutable data, each party is forced to hold proprietary information, creating a fragmented environment that results in redundancy and the need for manual reconciliation across multiple intermediaries. Based on studies conducted at the IBM/Columbia Blockchain Accelerator, a successful blockchain network will, therefore, be the “Switzerland” of an industry. Each network member must see a common problem related to a mission-critical function that the ledger can solve in a neutral manner. The common problems are usually related to process optimization, cost reduction, risk reduction, convenience/usability, and accessibility. In other words, the focus must be on designing a minimum viable ecosystem (MVE) that delivers shared value for an industry and for all members of the network. This doesn’t mean the network operator will not be compensated. According to IBM, $4 trillion in market value will be created by ledger technologies over the next 10 years, with the lion’s share of profits accruing to network operators - like us!

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