Most writers need money at some point in their careers. The Russian Authors’ Society (RAO) plans to launch a blockchain-based financial platform early next year that will help its members get loans using their intellectual property as collateral, according to Russian news outlet TASS.
As translated by Cointelegraph, RAO CEO Alexander Sukhotin said during a recent conference that the project, dubbed CoFi, will “bring together potential intellectual property rightsholders and investors that are ready to provide loan funds.”
In addition, he said the blockchain-enabled platform will not be limited by type of intellectual property but will include patents, musical works and visual art. Read more here.