We all understand the importance of amazing contents and the impacts they make on our daily lives. However, that joy is about to be cut short because of the malicious tendencies of manipulators that tend to take over contents generated by others. In light of the proliferation of inordinate claims of intellectual property by third parties, it became commonplace to have a high spate of plagiarism. Hence, it’s essential to put a stop to this malaise before it puts a stop to the impact made by intellectual property owners.
The Current Standing
Ironically, the IP market, which ought to have gone farther by now, is sadly on the brinks of collapse. This is because of the following problems:
• Counterfeiting
You may need to check the product you purchased on your way from work. There are higher chances of obtaining fakes. Sadly, this trend cuts across many industries, which makes it hard to solve the problem in one fell swoop.
Given the proliferation of fake products, businesses stand a risk of getting run out of the market because the counterfeits (which are cheaper), tend to dominate. In addition, it attracts disrepute to such businesses when users realize that they have been dealing with the fake product all along.
• Loss of Revenue
Just as intellectual property owners lament over the remake of their products, they also face the risk of losing a huge amount of money.
• No means of Verification
One of the reasons why customers cast aspersions on IP owners is because there are limited channels of verifying affected products.
The Colletrix Solution
We have a new blockchain-based project that wants to take a shot at the fragmented IP industry. The aim is to restore dignity to the operations of IP owners, and helping them to make and enjoy profits from their products without hassles.
Converting Properties to Digital Assets
Colletrix has a feasible plan that would certainly see the light of the day. The plan is to help intellectual property owners to convert their products into digital assets. This would take place in a blockchain registry, where the properties would take the form of a non-fungible token (NFT). By this disposition, the physical product is tied to the token and comes in handy for hitch-free transactions.
The Smart Contract as an Intermediary
Colletrix’s smart contract assumes the position of an intermediary, whereby it facilitates transactions. In this case, the IP owner maintains his ownership until the completion of a transaction. In that case, the smart contract automatically transfers ownership to the receiver/buyer after payment was confirmed.
Tackling Counterfeit
In the same regard as its quest to foster a seamless transfer of ownership, Colletrix also tackles counterfeits using a non-fungible token (NFT). Users/buyers would be able to trace the historical ownership of a particular product or property they bought or wish to buy. With this method, it would be easier to trace and establish the ownership of a property from inception to date.
Roadmap
Token sale Information
Ticker: CIPX
Platform: Ethereum
Token Supply: 10 billion
Exchange Rate: 1 CIPX = $0.01 USD
Accepted Currencies: BTC, ETH
Colletrix’s Team
Final Thoughts
The niche that Colletrix chose is not only delicate but has potentials of growth if the right framework (such as the one formulated by Colletrix) are adopted. To that end, the future looks good for Intellectual Property, and this project is leading the way to its freedom.
FOR MORE INSIGHT ON THIS REMARKABLE PROJECT, VISIT THE LINKS BELOW
Website : https://www.colletrix.com/
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=5138397.0
Twitter : https://twitter.com/colletrix
Telegram : https://t.me/colletrix
Facebook : https://www.facebook.com/colletrix.io/
LinkedIn : https://www.linkedin.com/company/colletrix
writer's info
Bitcointalk username : deodivine1
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1390292