This article is from es.cointelegraph.com and the original article can be read here
The government of Nigeria seeks to incorporate crypto to boost their economic development. In this regard, the country’s authorities signed an exclusive 3 years IPR (intellectual property right) agreement with Developing Africa Group to launch a national wallet that will enable the international trading of all intellectual property forms that are created and registered within the country. In this context, the DPI exclusivity agreement consists of the government granting Developing Africa Group, a regional software development company, to build the country’s official platform for its people to upload any forms of intellectual property rights and trade, sell or trade them abroad, while they collect the royalties and the income from these operations in those wallets.
koibanx + @Algorand + Nigeria = THE FUTURE 🚀
Can you imagine a country that launches a crypto wallet which enables citizens to register any form of IP and earn worldwide royalties on them?
Well Nigeria is doing it and it is probably the biggest crypto project in the world.
👇🧵— Koibanx (@koibanx) May 23, 2022
The agreement will cover trademarks, patents and all forms of copyright, such as songs, lyrics, videos, shows, conferences, podcasts and all kinds of content that can be streamed.
The supplier will be the company Koibanx, which will take care of tokenization and payments while the development will be carried out on the Algorand blockchain. Koibanx will be in charge of implementing the wallet, the token both for the IP that is sold and the stable token (equivalent to Naira) to pay the creators, in addition to the general technique. The deployment will involve card issuing companies, a content streaming platform, and both legal and data mining firms.
“The Algorand protocol not only provide the performance, scalability, security, and functionality to implement a project at this scale, but it is also environmentally friendly.”, stated Ben Oguntala, CEO of Developing Africa Group.
The provider has previously worked on other projects that try to bring blockchain closer to a usability that exceeds cryptocurrencies. For instance, they previously worked on the national blockchain-based citizen identification and information program in Colombia (which currently has more than 9 million users), the platform for the National Registry of El Salvador (comprising IP but also property titles, vehicles and legal entities) and more than 10 different payment implementations for banks in the Latin America region. “Nigerian IPR Wallet Is Probably The World’s Largest Crypto Project”, considered Leo Elduayen, CEO of Koibanx.
The launch of the project is expected to be before January 2023.
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