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There was a time in history when certain people worried about the inventions of certain people being lost if they either kept it as a secret or migrated or died before passing it on. Driven by this fear the ruling parties were forced by a group of individuals who felt that this knowledge must be made public.
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But that meant that the inventor is at a loss of property and rights to the thing that he or she invented and it allowed for anyone with the information to monetise it with no benefits being brought to the creator. So, they formed a law or rule of sorts, which allowed for a report to be filed once an invention or innovation is made and this could then be owned or rented to those in need of that particular invention or innovation while the creator receives monetary benefits and maintains his rights and ownership of it.
This brought about a revolution in the way inventions and innovations were shared among the community, allowing for everyone to achieve what they intended, helping in the advancement of the society as the whole. It also helped in creating an incentive for all to start innovating as a patent would provide them with cash flow.
But this at first was implemented in few countries in the Europe and was soon adopted in various other countries. As International Trade began flourishing this idea of patents soon spread to other countries and there came a time when it was all standardized so that patents applied anywhere in the world could be then used, owned or sold to anyone anywhere else in the world with laws and rules governing them. But still now filing for patents has a lot of bureaucracy, problems in transparency and payments for creators.
USAT Platform
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They are an Australian based non-profit organisation, who are trying to solve the above mentioned drawbacks in the Patent filing and sharing and they plan to do this by implementing the Blockchain into the regular process.
This will reduce the time taken to obtain a Patent for a particular innovation and this is very crucial considering the fact that if the process takes a lot of time, it could be used by anyone else without the creators consent within that time.
This gets rid of the bureaucracy and most of all helps increase the reliability and security with which the patents could be shared and owned.
ICO & Team
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They plan on powering their platform by introducing the USAT Token which is based on Ethereum's Platform. Their Pre-Sale begins on 15 June and their Main-Sale dates will be announced once the former ends. It requires for you to be Registered and KYC Verified in order to participate in the ICO.
The Founders of this Project are actually the key members AIHEM, with the support staff consisting of people experienced in Blockchain, Web Design, Software and Development fields respectively. They are backed by an impressive advisory team consisting of long term player of the Blockchain, Marketing, Legal, Technology, Investment and Networking fields respectively.
Conclusion
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With the support of the diverse team and the backing of an even more experienced advisory board, they have got the Team, Vision and Goals right and have a unique product at their hands.
Though there are a lot of Projects in this field, they have what it takes to succeed.
**Website** - https://usat.io/
**Whitepaper** - https://usat.io/wp-content/uploads/2018/05/White-Paper-USAT-Inc.pdf
**ANN** - https://bitcointalk.org/index.php?topic=4419611.0;all
**Telegram** - https://t.me/usat_inc
**Published by** - Etheran
**Profile** - <https://bitcointalk.org/index.php?action=profile;u=1108165>
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