Authors :
Miguel Rapela; Lucas Lehtinen
Volume/Issue :
Volume 8 - 2023, Issue 1 - January
Google Scholar :
https://bit.ly/3IIfn9N
Scribd :
https://bit.ly/3x7hBvL
DOI :
https://doi.org/10.5281/zenodo.7614141
Abstract :
This work proposes the developing of a
blockchain smart contract and the formal creation of
Non-Fungible Plant Variety (NFPV) by tokenizing such
a real-world asset. The NFPV enables complete transparency of the seed market by establishing an unprecedented relationship between the breeder of the plant
variety and the acquirer of the seed of such plant variety.
Each digital token of an NFPV is backed by a seed
unit of the same real-world variety produced that year
by the breeder. A digital token of an NFPV cannot exist
without the backing of a seed unit of the same variety,
nor vice versa. Purchasers of the NFPV will have the
opportunity to bid in the ICO (initial coin offering) for
the purpose of determining the valuation price of the
NFPV and its copy in case of seed save and use, the base
price of which will be the real-world production value
of the seed containing the variety. The transaction will
be made through the standard for non-fungible tokens
(NFT) in the Ethereum ERC-721 network using the
Solidity language, the transaction being credited with
the network's cryptocurrency Ether (ETH) and the
MetaMask virtual wallet or digital purse.
The work described here is the creation and commercialization of the seed of an NFPV, a concept that is
perfectly in line with the obligations of the Agreement
on Trade-Related Aspects of Intellectual Property
Rights (TRIPs) and the system of intellectual protection
of the Union internationale pour la Protection des Obtentions Végétales (UPOV).
Keywords :
Plant Varieties, Plant Breeders´ Rights, Intellectual Property, Sui Generis System, Non Fungible Token, NFT.
This work proposes the developing of a
blockchain smart contract and the formal creation of
Non-Fungible Plant Variety (NFPV) by tokenizing such
a real-world asset. The NFPV enables complete transparency of the seed market by establishing an unprecedented relationship between the breeder of the plant
variety and the acquirer of the seed of such plant variety.
Each digital token of an NFPV is backed by a seed
unit of the same real-world variety produced that year
by the breeder. A digital token of an NFPV cannot exist
without the backing of a seed unit of the same variety,
nor vice versa. Purchasers of the NFPV will have the
opportunity to bid in the ICO (initial coin offering) for
the purpose of determining the valuation price of the
NFPV and its copy in case of seed save and use, the base
price of which will be the real-world production value
of the seed containing the variety. The transaction will
be made through the standard for non-fungible tokens
(NFT) in the Ethereum ERC-721 network using the
Solidity language, the transaction being credited with
the network's cryptocurrency Ether (ETH) and the
MetaMask virtual wallet or digital purse.
The work described here is the creation and commercialization of the seed of an NFPV, a concept that is
perfectly in line with the obligations of the Agreement
on Trade-Related Aspects of Intellectual Property
Rights (TRIPs) and the system of intellectual protection
of the Union internationale pour la Protection des Obtentions Végétales (UPOV).
Keywords :
Plant Varieties, Plant Breeders´ Rights, Intellectual Property, Sui Generis System, Non Fungible Token, NFT.
