Intro to Proof of Invention (PoI)
Last updated
Last updated
Proof of Invention (PoI) is a blockchain-based tool that allows inventors to securely timestamp their ideas and inventions, generating cryptographic proof of their concept’s existence at a specific moment in time. This timestamp acts as verifiable evidence, inventors can later mint an IP-NFT from their Proof of Invention (PoI) generating an inmutable record and establish legitimate ownership of their invention.
For early-stage inventors: PoI is ideal for inventors and researchers who need a secure, low-cost way to document their ideas before sharing them with others, without dealing with the high costs and formalities of provisional patents.
For scientific communities like BioDAOs: PoI helps them find, recognize and reward the best ideas of their community members, giving recognition and incentive to their original inventors.
Facilitates IP Tokenization: If the inventor decides to pursue further protection, the on-chain proof can be used later in the IP-NFT minting process, enabling tokenization of their intellectual property.
Compatible with traditional IP systems: PoI aligns with existing IP systems, allowing inventors to use it as evidence when filing patents or presenting their idea in legal proceedings.
