Smartillions blockchain for medical R&D connects manufacturers with specialised research teams and institutional investors
Smartillions developed a medical R&D blockchain to create rewarding relationships between manufacturers, specialised research teams and institutional investors.
By means of smart contracts on the medical R&D blockchain, manufacturers can outsource R&D projects to participating research institutes and access institutional funds in exchange for pre-negotiated success fees. This enables a medical company to collaborate with teams that work exclusively on their behalf to conduct effective research in their fields and then develop new technologies for the benefit of the company — without assuming 100% of the financial risks that are associated with large medical R&D projects. Likewise, institutional investors have the assurance that they are investing in projects alongside medical companies with specific expertise in their fields. Investors do not only have the advantage of accessing a diversified medical R&D portfolio with a large profit potential and the security of underlying intellectual property and patent rights but also the liquidity of an asset that can be easily traded on the blockchain with other institutional investors.
“The medical R&D blockchain allows manufacturers to potentially secure many new technologies while sharing risks and rewards of large research projects with institutional investors,” says Smartillions’ president Olly Stumpf.
Smartillions launched a consortium of institutional investors and medical companies that are interested in obtaining inventions through dedicated medical R&D projects by qualified outside researchers with potential patent protection. The medical R&D blockchain is intended to incentivise not only investors but also research institutes and their teams by offering them rewards for each grant of a patent that meets the objectives of a contracting company.
Each smart contract on the medical R&D blockchain is based on pre-negotiated terms between researchers, investors and one contracting manufacturer. These exclusive relationships are very cost-efficient since teams in companies and at research institutes can work together on the joint goals of one manufacturer.
Smartillions intends to develop the medical R&D blockchain into a fully automated global trading platform for institutional investors, connected through a protected network with end-to-end security for all participants.
The medical R&D blockchain allows manufacturers to potentially secure many new technologies while sharing risks and rewards of large research projects with institutional investors.
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