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The World’s First BPSA Launched in Silicon Valley Appoints Former CFTC Chairman As Honorary Adviser

The Blockchain Patent Sharing Alliance(BPSA)was launched at Stanford university’s BOOTUP accelerator in the Silicon Valley at 3:00 PM, Oct.27,2017. The world’s
first blockchain patent sharing alliance revealed that former Commodity Futures Trading Commission chairman, Dr. James E. Newsome, was appointed to the honorary chairman of the alliance, and former Nasdaq chairman John F. Wallace,academician of the National Academy of Engineering,  and foreign academician of Chinese Academy of Sciences Ma Zuoping served as the honorary adviser.

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At present, the global application researches on the blockchain launched mainly as the alliance mode, except for governments. BPSA, the world’s first patent sharing alliance based on blockchain, consists of a number of well-known blockchain enterprises from China, the United States and Canada,directed by the Global Blockchain Business Council(GBBC), and aim to create the top blockchain patent ecology through the three features of patent protection, cross-chain transactions and smart contract, to facilitate the global patent sharing as well as promotion and adoption of patent technology.

The establishment of BPSA is widely regarded as a great benefit to the development of the whole blockchain industry. In the top blockchain patent ecology built by the world’s leading elites in blockchain industry , we cannot only achieve global intellectual property rights sharing and promote the exchange and sharing of technology for every industry, but also create intellectual property value assessment system to provide the basis for enterprise assets evaluation and intellectual property transactions, establishing global digital patent trading platform based on blockchain to make the effective value-cashing of patent assets possible.

It is foreseeable that patent owners, whose rights are guaranteed by BPSA, could take maximum effectiveness of patent assets in the legal, safe and efficient environment; blockchain startups can benefit more directly from it.On the one hand, they share the global latest blockchain patent technology, and on another hand, they are able to significantly reduce their spending on patent, winning the favour of the world’s big commercial customers to access the global market.

According to data, more than 20 countries around the worldare investing in blockchain technology, and more than 90 central banks have joined the blockchain discussion.Over the past three years,venture investors poured more than $1.4 billion into the blockchain sector, which created more than 2,500 patents related to the blockchain.The survey of Accenture also showed that in 2016, the blockchain has achieved 13.5% utilization rate in the economic field, reaching the early stage of development, and will apply broadly in the future.

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