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John Wise is CEO and Chairman of the Board of Loci, Inc., a high-growth tech company that is redefining the world of innovation by developing a platform technology which maps the landscape of innovation. Loci takes search and analysis to the next step. It's software is the poised to be the leader of the next generation of search engines which looks backward to outline direct ancestors of a concept and looks forward to outline direct descendants of a concept. John has extensive technical and engineering management experience with a proven track record of successfully creating, developing, and implementing new products and services, managing organizational and product growth, and creating process improvements. Mr. Wise has been granted a patent pertaining to invention research, involving a wide breadth of technical disciplines. He has three more patents pending, and over eighteen more in the drafting process. John is also an experienced inventor in auto racing technologies with around 1000 inventions. In roles such as lead mechanic, crew chief, design engineer, team manager, data acquisitions, and technology consultant. John has won several national and world championships in his racing tenure, including leading GMG’s Alec Udell to the 2016 Pirelli World Challenge Championship.
www. locipro.com

The Inventors Launchpad – Roadmap to Success Series is presented by Inventors Launchpad in beautiful Tampa Bay, FL and hosted by Carmine Denisco. Carmine is an accomplished Author, Entrepreneur, Inventor and Co-founder/Managing Partner of Inventors Launchpad. Along with his business partner Rick Valderrama has changed the face of the invention industry and look forward to helping inventors from all over the world move their ideas forward. For more information please visit www.inventorslaunchpad.com
 

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Podcast Notes

1YouTube generated podcast notes, please excuse any typos.
0:00
that's good hi everyone and welcome to
0:03
inventors Launchpad Network
0:05
I am carmine danesco your host for
0:08
today's show of the inventors Launchpad
0:12
and today on the show we have an
0:16
invention maniac I mean this guy has
0:19
thousands of inventions out there he's
0:21
working on some really cool technology
0:24
for a global invention registry his name
0:29
is John Weiss and he's a CEO of a
0:32
company called Loki and we have them on
0:35
the line we're gonna get some
0:36
information which I know all of you are
0:38
very interested in intellectual property
0:41
space hey Johnny on the line over there
0:44
I am I'm here thanks hey thanks for
0:46
being on today I know that you're
0:48
travelling around the globe you're at
0:50
the airport right now we were just
0:52
talking about that if we do get a little
0:54
bit of background noise I just want to
0:56
apologize to the listeners but I was
0:58
super happy to track John down and for
1:01
him to give us some time is awesome so
1:03
so John tell us a little bit about
1:05
what's going on in your world I mean I
1:07
know you got a million thing and we're
1:08
kind of getting into the intellectual
1:11
property registry I don't even know
1:15
where to start with my world I mean I
1:16
I'm I'm in Barcelona right now I just
1:18
got in I came in for me beef was in
1:22
Paris on Wednesday and all last week was
1:28
in London so yeah little little crazy
1:32
yeah but good good very busy no no and
1:35
sometimes you know when you're that busy
1:37
the time just flies by I'm sure and
1:39
you're racking up those those frequent
1:42
flyer miles I'm sure but however I know
1:46
you have so many things going on how is
1:48
it working you know mobile like that
1:50
what's your what's your biggest piece of
1:53
hardware that you can't do without my
1:57
phone yeah just I mean I I have you know
2:02
I have like the biggest baddest iPhone 7
2:05
plus thing you know with two or three
2:07
Mophie cases and four or five battery
2:10
pack small blocks and six of them you
2:12
know a day it's
2:13
it's ridiculous III have two phones that
2:15
I have to magnet together sometimes when
2:18
I travel internationally and it's it's
2:21
just absurd and my team will still say
2:25
like he's we can never get contact and
2:28
I'd do everything I can I love those
2:30
guys do you find when you're traveling
2:34
around the world the difference is like
2:36
you probably noticed like a lot of yes
2:39
that we have on people that travel the
2:40
world they circumvent the globe as you
2:42
do the differences in internet and
2:44
technology web and and how you can find
2:47
a way to access whereas it seem like
2:49
it's kind of equalizing at yeah yeah
2:53
sometimes I mean like Ibiza that I was
2:57
just in right and I went off to Spain
3:00
doesn't have any 4G right they just have
3:05
3G and it's one of those things are like
3:07
well I never really noticed how long it
3:11
actually takes to load a PDF with old
3:15
internet it's you know you gotta wait
3:17
like 30 40 seconds for it and and that
3:20
feels like an absolute lifetime when
3:22
you're trying to get research on
3:23
something very quickly but that's okay
3:27
well somebody like you and I who is into
3:31
racing I wanted to talk a little bit
3:32
about that I know you were you're heavy
3:34
into racing and you have some actual
3:36
inventions that are being used
3:38
throughout the world not only in in
3:40
racing but on some of the biggest
3:42
corporations throughout the world how
3:46
did you get into the racing side and and
3:48
you know how how did you get some of
3:50
those inventions into the racing
3:52
community I would think it's pretty
3:53
pretty tough to do well so I I started
3:57
in racing just out of sheer passion
3:58
right I was just really into cars which
4:02
I never really understood where it came
4:03
from
4:04
nobody and my family is into cars at all
4:06
not so I had no real background or
4:11
understanding inherently I just I just
4:14
like tinkering so I started by
4:16
volunteering and kind of getting into a
4:17
deeper and deeper and deeper but as far
4:21
as the inventions go racing is racing
4:24
sort of an unsung hero right
4:28
any day in racing we would come up with
4:33
a new invention right prototype the
4:36
thing that's where rapid prototyping
4:38
that is now called 3d printing came from
4:41
prototype it build a finished product
4:45
and have it in the end consumers hands
4:47
in the same day and we did that almost
4:48
every day right now just so you
4:52
understand the racing that I worked in
4:55
was you know five to seven hundred of
4:58
the best engineers around the world
5:01
working with you know five hundred
5:03
million to about one and a half billion
5:05
dollar a year budgets or R&D; you know
5:09
it's not it's not some little Joe Schmo
5:14
mom-and-pop shop yeah these are big
5:17
manufacturers like Audi Volkswagen Group
5:20
you know Porsche a Lamborghini BMW BMW
5:25
Motorsport Chevrolet you know this big
5:29
big names right and and it was supposed
5:33
to trickle down to the manufacturers but
5:35
that's actually where the ethos for Loki
5:38
came from was that I saw these amazing
5:42
game-changing world-changing inventions
5:45
on just about a daily basis Wow
5:48
go absolutely nowhere because nobody
5:52
wanted to share the competitive
5:53
advantage nobody wanted to lose that
5:55
so nobody filed any patents I in fact
5:58
through through my 15 years in racing I
6:01
don't know III would say I've maybe seen
6:05
two patents file to write and those 1500
6:10
inventions were just mine I was a part
6:13
of at least 20,000 Wow right and it's
6:17
it's things where you just say god this
6:20
is such a shame it's such a pity that I
6:25
mean to see that many innovations I mean
6:29
that must be multiple daily you know
6:32
innovations inventions being created and
6:35
you're you're basically you're part of
6:36
it watching it I mean that's that's
6:37
fabulous it's amazing yeah
6:40
yeah yeah I mean these you know
6:41
companies that have spawned out of out
6:43
of racing you've got Lotus McLaren BMW
6:48
Porsche Lamborghini Ferrari Tesla SpaceX
6:53
Virgin Galactic right even NASA NASA
6:57
hires almost exclusively Racing
7:00
engineers right they um just about will
7:04
not hire anybody and in fact I know for
7:06
a fact that Virgin Galactic will not
7:09
because that the lead engineer is a
7:11
friend of mine but Virgin Galactic will
7:13
not hire anybody that only has
7:16
experience in aerospace they require at
7:20
least two years of experience in racing
7:24
Wow that's unbelievable
7:26
so do you ever get this in the car and
7:28
makes them didn't earn some laughs yeah
7:32
but you know that's a common
7:33
misconception it's you know these cars
7:37
are like hundreds of two hundred million
7:39
dollar cars now and they're absolutely
7:44
terrible to drive there is nothing
7:48
appealing about them not to me right not
7:52
to me at all they're really
7:54
uncomfortable they're really hot there's
7:58
no a/c right there's the cars themselves
8:01
are very poorly insulated you know
8:05
you're you're wearing a full fireproof
8:07
suits every inch of you is covered up
8:10
including a helmets and everything else
8:12
right and and you curb a wheel and
8:17
that's $2,000 right you you make one
8:21
wrong step you know there goes the whole
8:23
car it's just not something that I ever
8:26
really got appeal in huh it's a matte
8:31
it's amazing that they're I mean they're
8:33
tough and they can do these insane
8:35
amount of mile an hour for hours on end
8:37
but they're so fragile it's all they're
8:40
not that they're not that fragile I mean
8:42
they're they're they're fairly fairly
8:44
stout but they're made to go really fast
8:46
yeah and you know that the thing is that
8:50
the tires have to warm up to a certain
8:52
temperature and they have to build fresh
8:54
as the air expands so if you're not a
8:57
really good pro driver the thing is
8:59
almost undriveable because you actually
9:01
have to push it to the limit in order to
9:03
get it to handle better it's just
9:09
whatever this thing that I'm fantastic
9:11
at building a man I yeah not not a fan
9:15
of amazing so do you I mean I know
9:18
you're super busy do you get it do you
9:20
get to follow the circuit at all you get
9:21
to see any of the races in person or you
9:23
kind of just watching on TV yeah I saw I
9:26
went to I went in spectated my first
9:29
race actually spectated my first race a
9:32
few weeks ago oh wow yeah after a year
9:37
of being out of the industry and went
9:39
back and saw one of my old teams up in
9:40
Sonoma California yeah I I never got a
9:46
chance to watch anything that's cool
9:49
well glad you got to do that I mean you
9:51
know working as much as you do time goes
9:53
by so fast but let's let's switch gears
9:56
a little bit I know your your time is
9:58
about what you got going on with the
10:01
actual registry that you're building I
10:03
mean I know that I can't even imagine
10:06
the undertaking that this is uh you know
10:09
performing something like this there's
10:10
so many think it's pretty big yeah yeah
10:14
it's it's a it's a pretty large
10:15
undertaking it's been I think we're
10:18
going on nine and a half years now
10:20
[Music]
10:21
my dad and I originally drafted the
10:24
patents and and conceived to this in oh
10:26
he sort of conceived of it early in 2000
10:30
and then 2008 we we drafted it 2011 we
10:34
finally got it put together enough to
10:36
file there was a lot of prior art
10:40
research for it and our first patents
10:43
the first fact that I ever filed with
10:47
him was I want to say 467 claims like
10:53
eight hundred and ninety something pages
10:55
Wow it's I think it's still the largest
10:58
patent in the US
11:00
it's okay wow that is yep and and it
11:06
took something like 72 hours for it to
11:08
actually get accepted once they read it
11:10
right the irony of getting a patent
11:16
gotta push through that quickly to kill
11:21
the patent system it's just it's just
11:25
beautiful
11:25
yeah beautiful so so the registry that
11:29
you're building is this gonna be like a
11:32
public accessible registry absolutely
11:36
that's the whole point yeah now we want
11:39
to democratize invention right we want
11:41
to get rid of the intermediaries we want
11:42
to make it a trustless network so that
11:44
everything is transparent is as
11:46
transparent as possible there are so
11:49
much waste and corporate litigation
11:52
infringement controlling and and legal
11:56
expenditure that goes on around the
11:58
world for nothing for no reason somebody
12:02
had told me once it was it was close to
12:05
around 45 trillion a year that is spent
12:07
in in waste here between duplicate of
12:11
efforts litigation legal expenses the
12:14
services along those lines and
12:17
inventions or technologies that ever go
12:19
to market so it's it's an ungodly amount
12:23
of money and it's just such a shame
12:27
because I think right now we're at
12:29
something like a three to six percent
12:31
yield on inventions that are discovered
12:34
that actually go to market mm-hmm yeah
12:37
globally globally yeah it's a it's
12:42
terrible it really is because people
12:44
that have the inventions and they do a
12:46
great job it is it's just discerning
12:49
that there's so many hoops for them to
12:51
jump through and a lot of times they
12:53
just don't have the funds or the
12:54
resources to move it forward yep so we
12:57
we change all that right so let me give
13:00
you just a brief overview of what we do
13:02
and a little before you can dive in a
13:04
little bit more here I'm up to here um
13:06
but so essentially we've got a we've got
13:08
a product called in been right Ninh ven
13:11
is a very simple search tool just an
13:14
interface
13:14
okay and it's for keyword searches
13:17
displayed in a Venn diagram where each
13:18
keyword search and its results are then
13:22
displayed in an individual circle those
13:24
circles then overlap in a Venn diagram
13:26
okay what you then basically can see is
13:30
you can get similar to doing like for
13:32
Google searches where that the results
13:36
from all four searches would be in the
13:38
overlaps of all four circles you can see
13:41
the five or six things that are relevant
13:43
to all four the point of all that right
13:47
and and I'll go back to just something
13:49
that's kind of the main portion of this
13:52
right if you invent something today who
13:55
names it no that's true you do right
14:00
yeah so if you named it and all of the
14:03
search tools in the world use keywords
14:05
who else has the keyword no one nobody
14:11
nobody nobody right so it for anybody
14:15
any of the listeners that are in front
14:17
of a computer here I want you to go pull
14:20
up Google and do a search for wheel
14:23
right the oldest invention of mankind
14:25
all right you'll find that the wheel is
14:29
the first result great fantastic right
14:33
now try searching for it in a couple of
14:36
different ways without using the name
14:39
wheel explain what it does Thanks this
14:43
is context function all right so the
14:46
thing I always use as the example is
14:48
round rolling thing all right
14:51
see if you can find the wheel anywhere
14:53
the oldest invention of mankind of human
14:56
history on the most powerful search
14:58
engine used by billions of people a day
15:00
and you will not find a wheel anywhere
15:06
how is that possible well try it try it
15:11
for yourself run through it right now
15:13
and here you're exactly right yeah
15:16
you'll start seeing sushi and baby got
15:18
back lyrics and you know square pegs and
15:22
knives and stuff like that right no yeah
15:27
oh yeah well it's it is it is
15:32
unbelievable
15:33
right you're just explaining a round
15:35
rolling thing round rolling object right
15:37
you can do a round rolling object over
15:39
one axis you can do it with a bearing
15:42
surface you can do all these other
15:43
things but ultimately you won't find it
15:45
when you're looking for context all
15:48
right do me a favor though if you do
15:49
find it I believe by the way it's like
15:52
144 results if you do find it just don't
15:56
click on it because it kind of messes up
15:58
my my test here it
16:01
that old seeks the ml it's a blood but
16:04
nonetheless so what we do is is in in
16:08
then you can you can do these these
16:10
different searches right and you can see
16:13
the overlaps between round things
16:14
rolling things rolling round things
16:17
right and and start to find the things
16:20
that are relevant now we do patent
16:23
searches so you want to actually find a
16:25
patent on a wheel but nonetheless you'll
16:27
find relevant other things so I know
16:36
it's it's it's such a simple like well
16:39
duh right yeah so we started we started
16:44
by really focusing on the context right
16:46
what does this thing fundamentally do
16:50
all right
16:51
from there we realized that if we
16:56
started to really understand what
16:58
something fundamentally did and it was
17:01
easy and cheap enough for people to
17:03
research it they would find better
17:05
results and from there it would actually
17:08
teach it could teach machine learning to
17:12
understand the context of those results
17:14
and offer prompts for future potential
17:20
applications right now the patent
17:23
attorneys and and those that have
17:25
patented a lot here will argue well that
17:27
doesn't that create breakdown
17:30
non-obviousness no it doesn't we're not
17:34
inventing anything through predictive
17:36
analytics or through algorithms that
17:39
ultimately needs to be done by Pete
17:42
what we can do is start to suggest other
17:44
kinds of functions but other things that
17:47
can be applied you the human heuristic
17:50
aliy you put these things together like
17:54
the computers are not good enough to
17:56
understand the scope of what's going to
18:00
be happening here but it is good enough
18:02
to understand that if you're making
18:05
something out of fiberglass maybe you
18:06
could make it out of carbon fiber once
18:08
that's been invented make it stronger
18:10
and lighter right we can start to apply
18:15
these other things so what we did was
18:18
week we made this very simple interface
18:19
where you could search in a kind of a
18:22
surface level context from there you'll
18:27
then create something called a result
18:29
set
18:29
you'll title it however you like but
18:33
most the time our inventors title it the
18:35
same thing that they would title their
18:37
patents okay let me preface this by
18:39
saying that if somebody wants to sign up
18:42
you can sign up through the website and
18:43
we'll recommend an attorney for you to
18:47
work with
18:48
we do require every inventor using our
18:50
tool to come through or or work with an
18:54
attorney because we feel that it's
18:56
ethically extremely important for the
18:59
inventors to have the attorney-client
19:01
privilege and really lock down the
19:06
confidentiality aspect of this we really
19:10
want it to be secure because of that all
19:14
the inventors are anonymized so we have
19:17
no way of knowing who you or anybody
19:19
else is using the system we just see a
19:22
user ID number that was generated by
19:24
your law firm your law firm is actually
19:27
the one that has your information and
19:30
that's a really really good thing so
19:34
you'll buy this product right it's two
19:36
hundred and forty nine dollars a month
19:38
for unlimited searches per user okay you
19:42
can do as many searches as you want and
19:43
we chose that that amount specifically
19:46
because it's ten percent of the lowest
19:49
price offering for patentability and
19:52
prior art search from attorneys in the
19:55
US
19:55
all right just 10% now because it's
20:00
completely anonymized and it's
20:01
completely confidential if you do this
20:03
search you don't need to publish any of
20:06
this you can just augment and and and
20:10
help your attorney cut down the costs
20:13
and make the whole invention process a
20:15
lot cheaper all right so you'll you'll
20:19
create these result sets we'll name the
20:22
results
20:22
and then you'll start to go through the
20:25
process of doing searches you'll select
20:26
a couple of different inventions that
20:28
you found relevant and you'll save them
20:30
to that result set at any point that you
20:34
feel like you've determined novelty
20:37
right that you've really gotten to the
20:40
bottom of it right you you you're
20:42
confident that there isn't anything else
20:44
that exists soon you'll be able to
20:47
actually click an icon to fill out a
20:50
provisional patent web form that your
20:53
attorney would supply and then if you
20:57
should so choose you can stake that on
20:59
the blockchain staking that invention
21:03
then on the blockchain allows you to get
21:05
a 12-month exclusive public disclosure
21:09
that is anonymized and secure it's now
21:12
immutable yet transparent and autumn
21:18
from there you then can sell the right
21:22
to file a patent
21:24
we don't sell patents right we're not a
21:26
patent office we're not a patent agent
21:28
or a law firm but we sell the public
21:31
disclosure rights on your behalf okay
21:36
and you can sell it to anybody anywhere
21:40
in the world as long as they effectively
21:45
come come through Loki because again
21:47
there's comfort in she addresses none
21:49
less hmm so before I go too far down the
21:53
rabbit hole I just want to make sure
21:54
that you understand you're falling you
21:57
got what I'm saying because it gets deep
21:59
fairly really quick here yeah yeah well
22:02
I know you got to go through it you're
22:03
stepping through which is pretty amazing
22:05
what you're talking about and I want to
22:06
see make sure the listeners understand
22:08
and
22:09
obviously correct me so so really what
22:12
you're putting together it is it's
22:13
amazing so we are allowing inventors and
22:17
the pricing is as a drop in the bucket
22:19
compared to what inventors and product
22:22
developers are used to paying to to do
22:24
searches to be able to lock in and now
22:27
you're allowing somebody to come in also
22:29
at the end and being able to and correct
22:32
your wrong purchase the rights to those
22:34
patents or the rights to file maybe yes
22:38
talking to that is that correct or maybe
22:41
going a little bit yes yeah so so the
22:44
u.s. USPTO and PCT are on a
22:47
first-to-file basis right so it's the
22:51
first inventor to file so say I come up
22:53
with invention and I don't have any
22:55
money now how inventions are expensive
22:57
right so the first thing I do is try to
23:00
go and talk with people to raise some
23:01
money to file at that right well if it
23:08
was purely first to file any of those
23:11
people that I spoke to could
23:12
theoretically steal it
23:13
and that used to be the case right so
23:17
the Patent Office has said okay we've
23:19
got a problem on our hands we're
23:20
actually really harming the little guy
23:22
here because anybody that doesn't have
23:27
any money but does have a good idea they
23:29
can't file a patent they can't spend the
23:32
time get the lawyers nobody's going to
23:35
do it on contingency because of how long
23:36
it takes to turn into value what do we
23:40
do about this so they came up with two
23:42
clauses one clause was the provisional
23:47
patents okay provisional patent is a $99
23:51
patent fee if an on examined patent so
23:55
you can file it and you'll have a
23:57
12-month period to then file a
24:00:00
non-provisional patent law utility
24:02:00
process or or design pack okay at the
24:07:00
same time they said okay but we need to
24:10:00
have a benefit for anybody that maybe
24:14:00
doesn't even have $100 no or they have a
24:17:00
product that they're trying to go right
24:19:00
to market with
24:22:00
so if you sell a product if you speak at
24:25:00
a conference if you speak to other
24:27:00
people and I believe it's two or more or
24:31:00
you disclose it in a paper something
24:36:00
along those lines and you get the same
24:39:00
effect of rights you get a public
24:42:00
disclosure okay and that gives you a
24:45:00
12-month exclusive period to file a
24:48:00
non-provisional patent as well Wow that
24:53:00
is an unbelievable way of helping out
24:57:00
the inventors and I don't think there's
24:59:00
too many of our listeners out there that
25:00:00
ever would have known this unless you
25:04:00
pointed it out and your being able to
25:05:00
condense this and put it together in a
25:08:00
form where I mean you're making it so
25:10:00
easy for the inventor to be idle really
25:13:00
lock in their idea yep yep we're trying
25:16:00
to crowdsource research and development
25:19:00
we want to make it so that every idea
25:22:00
get some legs right and in fact our
25:26:00
economic model we launched a
25:28:00
cryptocurrency recently and the economic
25:32:00
model for that actually reimburses
25:35:00
people for staking inventions on the
25:37:00
blockchain it covers their costs
25:39:00
initially on the first of every month it
25:41:00
reimburses these people right so it's a
25:45:00
lossless system from the inventor side
25:47:00
you're either going to break even or
25:49:00
something close to that or you're gonna
25:52:00
be able to make money right so so again
25:59:00
I'm just stepping back a little bit
26:00:00
because in reality I know all of our
26:02:00
listeners are going what heck is talking
26:04:00
about I mean how because the way that
26:07:00
you're explaining it it's making it
26:09:00
sound easy but obviously you know what I
26:12:00
mean then you you have done so much work
26:15:00
to make it get to that point though for
26:18:00
the user I'm you know I was stepping
26:21:00
through your website and I'm like which
26:22:00
is very nice by the way you're the
26:24:00
website in do really good looks great
26:26:00
it's very sad out shoutout to logan -
26:32:00
you know - transverse it's very easy it
26:35:00
looks very selfish
26:36:00
planetory and that's what i mean and a
26:38:00
lot of our inventors a lot of our
26:39:00
product developers they are bombarded
26:41:00
and as you know with with different
26:45:00
offers and that they have to do this or
26:47:00
they're gonna lose their idea or
26:48:00
somebody's gonna steal their idea but
26:50:00
what I love about what you're doing is
26:52:00
you're going tell everybody about it the
26:54:00
public's disclosure is good yep yep
26:57:00
absolutely
26:58:00
absolutely it's a it's a it's a very
27:00:00
very very good thing to do the trouble
27:04:00
the trouble is that until low key there
27:07:00
was no database there was no registry
27:10:00
for public disclosures and the patent
27:13:00
office couldn't do it it was a toxic
27:14:00
asset for them right and they were
27:16:00
bombarded with all this other work
27:18:00
anyway but which by the way the numbers
27:23:00
for what the patent office has to do oh
27:25:00
my god yeah 9700 people going through 12
27:30:00
12 million patents a year you know an
27:32:00
average of honour'd pages per patent
27:34:00
gonna do the math yeah no wonder it
27:38:00
takes six years so yeah it's it's it is
27:43:00
it is all about disclosing it but the
27:46:00
blockchain
27:47:00
really allowed us to have this auditable
27:50:00
and immutable registry for inventions
27:54:00
and the context was really how we can
27:57:00
lock it down and say look you know this
27:59:00
is a genuine thing it's not just a piece
28:01:00
of paper it's not just writing the
28:05:00
context itself allows us to understand
28:07:00
if there is anything else like that now
28:09:00
that being said loki has absolutely no
28:14:00
ability to tell you if your invention is
28:17:00
or is not patentable mm-hmm that is not
28:20:00
our place that's where your attorneys
28:22:00
come in that's where the Patent Office
28:23:00
comes in but we can help you secure the
28:26:00
rights to it as early as possible yeah
28:30:00
to me a user of Loki is actually going
28:34:00
to be able to know before they get
28:36:00
really deep into their idea before they
28:39:00
get into their invention I love that you
28:41:00
take bring on your attorney with you
28:42:00
because it certainly will help but in
28:45:00
reality it could be years ahead of time
28:47:00
because doing the searches look
28:49:00
for the patent filing for that patent
28:51:00
where is what they use they can be so
28:55:00
they could be to market so much quicker
28:58:00
yeah on average we're about six years
29:00:00
early that's it huh six years earlier to
29:05:00
monetization sir
29:08:00
unbelievable unbelievable can you
29:10:00
explain a little bit for our listeners
29:12:00
what you mean when you say blockchain
29:13:00
they may they may not on for sure sure
29:16:00
so so I'll give just a very brief
29:20:00
overview of it so imagine sending a
29:24:00
check to two of your friends thanks
29:28:00
you've got you know two friends here
29:32:00
with you right and you give money to
29:34:00
your buddy Bob right and you give them a
29:38:00
check for $100 so right away the bank
29:41:00
right now needs to confirm that the
29:43:00
money is leaving your accounts and it's
29:45:00
going into Bob's account okay that's a
29:47:00
trusted network that's an intermediary
29:49:00
all right
29:50:00
but then Bob gives it two days all right
29:54:00
he gives a check for $100 that he writes
29:56:00
today now again the same intermediary
30:00:00
would need to confirm that the money is
30:02:00
not duplicated it goes out of his
30:05:00
account and into Dave's account on a
30:08:00
blockchain you don't need to do it that
30:10:00
way because what you did was you wrote a
30:14:00
check that referenced your paycheck okay
30:18:00
and you staked a check as a stamp on the
30:22:00
bottom of the thing to say that you had
30:23:00
the money there right and then Bob
30:28:00
stamped your check that you gave him on
30:31:00
his check and then Dave staked
30:35:00
Bob's check so on and so forth right so
30:38:00
it calls the previous block so you can
30:42:00
think of it as building up Legos you
30:44:00
know the Lego below even if it's hidden
30:46:00
from view okay
30:50:00
it's fairly simple it gets quite complex
30:53:00
in the nitty-gritty of it yeah
30:56:00
but it's fairly simple and premise is
30:58:00
that if you just reference the previous
31:02:00
thing then anybody that is within that
31:07:00
network can now see all of it
31:12:00
now cryptocurrency in general is is like
31:14:00
a credit union for the owners of the
31:17:00
cryptocurrency have access to the whole
31:20:00
block or the blockchain they can see all
31:24:00
of the different transactions although
31:27:00
they're all anonymized right so you
31:32:00
don't actually know who it is you just
31:34:00
know that there was a trans transaction
31:36:00
that went from here or there and you
31:39:00
know the amount you know the specific
31:42:00
public and private or the public key
31:44:00
thing and you know the you know the the
31:47:00
specific block so on and so forth so I
31:53:00
mean it sounds I mean the way you
31:55:00
explain is good it basically will trap
31:57:00
you're tracking each Dupre previous user
32:00:00
it's basically chaining them together I
32:01:00
know what you're talking about
32:03:00
yep well we do the same thing in patents
32:05:00
right we call it prior art oh there you
32:07:00
go
32:08:00
so the trouble was that there wasn't
32:11:00
really much of a prior art citation
32:14:00
database like that there are a lot of
32:16:00
them that have been built but they're
32:19:00
kind of crappy I mean it's it's the US
32:23:00
government man what do you what are you
32:25:00
gonna do right
32:28:00
Google's got a decent one but Lexus is
32:31:00
okay but nonetheless so now now that's
32:35:00
that's blockchain but to go a little bit
32:39:00
deeper here I'll explain what launching
32:42:00
a token it's called an ICO is right so
32:47:00
imagine buying an Amazon gift card can
32:52:00
you still hear me okay yeah yes I'm
32:54:00
doing it couldn't get into a better spot
32:57:00
here so imagine spending $100 on an
33:00:00
Amazon gift card right
33:03:00
and Amazon giftcard isn't an actual
33:05:00
physical gift card they don't mail you
33:06:00
anything you just get $100 credit right
33:11:00
that's an authentication token that
33:13:00
you're receiving okay it's not a
33:17:00
physical thing it's a digital currency
33:20:00
now that you can think of as akin to
33:24:00
Bitcoin something along those lines all
33:27:00
right
33:29:00
now there are a couple of big currencies
33:32:00
the big ones are Bitcoin aetherium and
33:35:00
litecoin okay and then there's a whole
33:38:00
slew of other other ones as well but the
33:42:00
main three you can think of as sort of
33:44:00
operating systems that coin being like
33:47:00
Microsoft Experian being like Apple OS
33:51:00
right and then like going being like
33:54:00
Linux in this case though if somebody
33:59:00
wants to launch their own cryptocurrency
34:02:00
it's akin to buying an Amazon gift card
34:05:00
but not just a regular one it's it's
34:08:00
akin to buying like an Amazon black gift
34:10:00
card we're having that money having that
34:13:00
gift card actually gives you rights or
34:17:00
the ability to buy special unique
34:20:00
products offered by Amazon so like maybe
34:25:00
there are Amazon Launchpad right so what
34:29:00
happens is that if you have $100 suspend
34:32:00
an Amazon black gift card you are the
34:36:00
only one allowed to buy these Amazon
34:38:00
Launchpad products okay
34:42:00
what happens from there is that as the
34:46:00
demand or desire for those products goes
34:48:00
up the exclusivity drives the price of
34:54:00
the hundred dollar gift card that you
34:55:00
bought up and so there's a speculative
34:58:00
market inflation's what that's called
35:03:00
okay no see you're just a sense yeah it
35:06:00
makes great sense I'm glad you were able
35:07:00
to walk through that make perfect yeah
35:09:00
so in this case what what Loki is doing
35:12:00
is we're actually using the right to
35:15:00
file a patent as an asset class yeah
35:23:00
where where you must buy and sell it
35:25:00
over our coin the reason we do that is
35:29:00
because with fiat currencies that's
35:32:00
federally regulated and insured
35:33:00
currencies right and with fiat
35:35:00
currencies you can have all these
35:37:00
different inflation's you can have
35:39:00
different values but you can also have
35:40:00
different market prices market shares
35:42:00
supply chain
35:43:00
there's thousands of variables here
35:45:00
right makes it very very very difficult
35:49:00
to have a uniform valuation metric oh
35:59:00
that's right I'm at an airport so what
36:04:00
we did was we launched this coin that
36:09:00
was specific to inventions and and
36:12:00
inventions that are staked on the
36:13:00
blockchain mm-hmm from there that meant
36:16:00
that we were able to have a nice uniform
36:18:00
and transparent valuation for all of it
36:22:00
where everybody would know exactly what
36:25:00
what their idea was worth regardless of
36:29:00
what country they invented it in
36:30:00
regardless of where they were going to
36:32:00
sell it because now they can sell it
36:33:00
anywhere in the world to anybody without
36:38:00
needing to go to your an attorney Wow
36:42:00
John this the system that you guys are
36:45:00
putting together it is amazing when you
36:46:00
were talking about a pre-show I thought
36:49:00
that I understood you're talking about
36:51:00
but now that you've gone through it it's
36:53:00
ten times better than I thought it was I
36:55:00
mean this is really gonna revel you eyes
36:57:00
the way people um not only register
37:00:00
their idea they're gonna feel better
37:01:00
about it but they're actually going to
37:03:00
be able to monetize just their idea it's
37:06:00
a it's amazing yep yep no patent filing
37:09:00
no none of that stuff you can still you
37:13:00
could still file a patent right we we
37:14:00
don't want to don't want to kill justice
37:16:00
No I'm not an anarchist I'm a bit of a
37:20:00
libertarian but I'm not an anarchist
37:22:00
here right we want to make sure that
37:25:00
that people have their same rights and
37:27:00
the same abilities in the legality but
37:29:00
we want to try to break down a
37:31:00
stronghold that the legal system has how
37:35:00
much stifling they do in general here
37:38:00
hmm that is true
37:41:00
a lot of times our inventors that come
37:44:00
to the inventors launch pad they feel
37:46:00
like they're kind of trapped that their
37:48:00
next step has to be a certain way they
37:51:00
have to register their patent they have
37:53:00
to file patent they have to get the
37:54:00
paperwork and they're saving their money
37:55:00
up they're saving their phones that
37:57:00
they're looking for investment money
37:58:00
yeah this kind of frees them up they can
38:01:00
still proceed the way they were going
38:03:00
but this helps them on the other side
38:06:00
that the world itself people that are
38:09:00
looking for ideas looking for a patent
38:11:00
something for inventions and really come
38:14:00
and and swoop them up and give them some
38:17:00
yeah funding yeah exactly right so
38:20:00
there's another really big thing here
38:22:00
well two big things that it solves as
38:23:00
well because of all of these inventions
38:26:00
and how inexpensive and easy it is to
38:29:00
stake an idea and the transparency of it
38:31:00
what that means is it actually breaks
38:34:00
down the litigation as well no right so
38:37:00
people can come up with a lot of ideas
38:39:00
that may or may not be patentable in the
38:42:00
first place remember I prefaced by
38:45:00
saying that we do not determine the
38:48:00
efficacy or the patentability of an
38:50:00
invention for you but that's a good
38:53:00
thing because if it states as soon as it
38:57:00
is determined that it's patentable now
39:01:00
there's rights for it right so you can
39:03:00
you know sort of cluster pom this thing
39:07:00
and have as many ideas staked as you can
39:10:00
think of and get the rights to those but
39:13:00
break down the rights for NPEs
39:16:00
non-practicing entities patent trolls as
39:18:00
well as infringement litigation the
39:21:00
other big big big thing here is that if
39:24:00
you and I both talked on a phone here
39:27:00
right and we came up with a new
39:29:00
invention
39:30:00
and we both parted ways and went our own
39:32:00
separate ways and invented it and filed
39:36:00
patents and spent hundreds of thousands
39:37:00
of dollars and then you know we had a
39:40:00
provisional patent in and we filed a
39:42:00
utility patent then we go into business
39:45:00
thinking that we're going to get an
39:47:00
accepted patent right you kind of have
39:48:00
to assume at that stage no so now we're
39:51:00
waiting for an office action we're
39:52:00
waiting to hear back from the Patent
39:54:00
Office right it takes 18 well 12 to 18
39:57:00
months to have the invention scanned
40:00:00
into a PDF to begin with so they're not
40:02:00
even searchable for 18 months to the
40:04:00
Patent Office okay you wouldn't even
40:07:00
know that I had filed as well 18 months
40:10:00
now on top of that it's gonna be up to
40:13:00
six and a half years until the Patent
40:17:00
Office decides which one of us wins so
40:21:00
all of the money all of the time the
40:24:00
energy and effort legal expenses from
40:27:00
one of us is that wasted and worse yet
40:30:00
we then have to spend our more money to
40:33:00
defend the rights and sue each other
40:38:00
yeah which is a very expensive the worst
40:41:00
part that I see and I know that the way
40:44:00
you're explaining is awesome
40:45:00
the worst part that I see is that time
40:46:00
that's involved and actually recently in
40:49:00
time I mean basically kills all things I
40:51:00
mean there's so much technology changing
40:53:00
the world is changing by that I mean
40:56:00
your idea could be great for you know
40:58:00
say a year and a half two years it'd be
40:59:00
in use but somebody else and could come
41:01:00
up with something that you know the
41:03:00
technology overcomes it I mean having to
41:06:00
wait for that much time is
41:07:00
nerve-wracking I think for all inventors
41:10:00
for everyone who know it really yep as I
41:15:00
had said I mean we drafted this thing in
41:17:00
2008 right filed it in 2011 and it
41:20:00
wasn't until 2015 that we actually heard
41:22:00
back from the Patent Office that was the
41:24:00
first time the end of 2015 was the first
41:27:00
time they had read it once they read it
41:29:00
it's 72 hours for it to actually get
41:31:00
approved which is unheard of but
41:34:00
nonetheless it's it's a long process you
41:40:00
know cars is extraordinarily large
41:44:00
nonetheless and they didn't want to read
41:46:00
it didn't want to read it again yeah
41:49:00
that's true I it actually took a call
41:52:00
from me to the examiner to explain the
41:55:00
ethos of the thing right what what it
41:57:00
was doing I think goes oh my god I get
41:59:00
it this is gonna change everything I
42:01:00
want it so badly for our system wow
42:05:00
that's so great to hear to hear what he
42:08:00
examiner saying that it probably made
42:11:00
you feel like this is awesome and seeing
42:12:00
that go through in 72 hours you're like
42:14:00
we got something here
42:15:00
I mean you knew that well on top of that
42:19:00
one of our equity partners believe it or
42:22:00
not is the state of Virginia yes yes you
42:28:00
heard it right the US government is an
42:31:00
investor in a cryptocurrency Wow
42:34:00
an equity holder and a cryptocurrency
42:35:00
company unbelievable it's amazing in the
42:39:00
same in the same stage as the Patent
42:41:00
Office that it's potentially disrupting
42:43:00
yeah well you know the as as you said
42:46:00
nothing against the patent was nothing
42:48:00
against the examiners I for one think
42:50:00
that the examiners are great I've spoken
42:52:00
with many of them they're just
42:53:00
overwhelmed the system they're Saints
42:56:00
right big these people I feel terrible
43:01:00
for them yeah and they're doing the best
43:04:00
they can
43:06:00
there are ways to try to get the patents
43:07:00
through faster but it's it all costs
43:09:00
money and what you're putting together
43:11:00
is giving everyone a fair shot I mean
43:14:00
you're basically leveling the playing
43:15:00
field for everyone which i think is just
43:17:00
so great yeah yeah do we have any time
43:21:00
to go into the economics of this weekend
43:23:00
we got about I don't know how long it'll
43:25:00
take we got about 10 minutes left so
43:27:00
yeah Wow okay so when when we decided to
43:32:00
go into this this whole crypto side we
43:35:00
actually invented a new economic model
43:37:00
as well it's called the Rainmaker okay
43:40:00
and so imagine a body of water and the
43:43:00
cloud okay
43:46:00
of water is 50 million coin 50 million
43:49:00
lucky coin it is solely used for capital
43:53:00
markets for cash so that is the dollar
43:58:00
value or dollar equivalence is
44:00:00
essentially of this 50 million
44:03:00
cryptocurrency half half of the whole
44:04:00
market all right so it can be bought and
44:07:00
sold on exchanges it can be you know
44:09:00
potentially peer-to-peer transacted you
44:11:00
know not not through us we're not the
44:13:00
exchange but nonetheless that's that's
44:16:00
the side for money okay
44:18:00
now the low key side we're we're the
44:23:00
cloud okay we hold 50 million as well
44:27:00
however Loki's crypto Loki's coin here
44:32:00
can never be transferred or transacted
44:35:00
into cash or Apple it can only be used
44:40:00
to buy and sell assets the inventions
44:43:00
okay okay the beauty of this whole thing
44:47:00
is that if you came up with an invention
44:49:00
say you came up with 10 microscopic
44:51:00
speakers okay we say look I've got
44:54:00
absolutely no way of manufacturing this
44:57:00
and even if I did I'd have no way of
44:59:00
gaining market share I just don't have
45:01:00
the money for it but it's a great idea
45:03:00
right it's a great invention and I've
45:06:00
worked in this industry for other people
45:08:00
but I know it could work so you come out
45:11:00
to these things mistakes these 10
45:13:00
inventions on the blocking you spent 249
45:16:00
dollars a month for the subscription to
45:19:00
do the search you then made these result
45:23:00
sets you wrote up a couple of these
45:26:00
provisional patent web forms right we
45:29:00
said look I I don't have an intention of
45:31:00
actually filing a patent personally but
45:35:00
I'm sure somebody could use this so you
45:38:00
say hey I'd be willing to sell it at the
45:40:00
same time loke goes to a place somebody
45:44:00
like Apple right we asked Apple what
45:46:00
they're interested and they say you know
45:48:00
we'd really like to get all the
45:50:00
inventions around the next iPhones so we
45:53:00
go back to our inventors including you
45:55:00
and we acquire your inventions your 10
45:59:00
microscope
46:00:00
speakers for a transparent valuation
46:03:00
metric of coin say say we've got a
46:07:00
thousand coin for each one of your
46:10:00
inventions right now at the market price
46:14:00
of say $2.49 you just spent $249 and one
46:20:00
coin for just take each invention on the
46:24:00
blockchain okay so maybe two hundred and
46:28:00
seventy bucks all right now you've just
46:31:00
received ten thousand coin worth around
46:34:00
$25,000 but low-key then packages your
46:38:00
inventions your ten speakers with ten
46:40:00
microphones ten screens ten batteries
46:42:00
ten a eyes ten voice processors ten
46:47:00
applications blah blah right we have a
46:51:00
thousand inventions that Loki is bought
46:53:00
for 1 million coin we then sell that
46:57:00
group it's called an investment pool a
46:59:00
group of inventions that secures all of
47:03:00
the next technology for Apple for the
47:05:00
next 20 years to Apple for 10 million
47:08:00
coin all right now at this stage though
47:12:00
Apple needs to buy that coin there's
47:17:00
only 50 million in circulation of which
47:18:00
you have 10,000 right so they come back
47:23:00
to you they say hey how much would you
47:25:00
like to sell your coin for you say well
47:28:00
I got it two dollars and 50 Cent's but
47:30:00
I'll sell it for 25,000 or did twenty
47:33:00
twenty-five dollars right so you had 25
47:37:00
you spent 250 bucks you came up with 10
47:40:00
inventions you made to 25,000 and now
47:44:00
you've sold that $25,000 worth of coin
47:47:00
for 250,000 Wow fantastic right and
47:52:00
you've done all of this in minutes
47:54:00
minutes all right now Apple buys this
48:00:00
investment pool of all thousand
48:02:00
dimensions for 10 million coin remember
48:06:00
I told you that Loki is the cloud and
48:09:00
now the cloud has an excess of 9 million
48:13:00
coin what happens when a cloud is
48:16:00
oversaturated dropped about it drink it
48:23:00
rains right and in this case it rains as
48:27:00
a proof of stake to any inventor that
48:31:00
has staked an invention on the
48:32:00
blockchain but has not been able to sell
48:35:00
it okay
48:40:00
thus reimbursing the costs for staking
48:42:00
the inventions in discovering them in
48:44:00
the first place and back filling all of
48:49:00
the crypto with a non speculative asset
48:52:00
something that actually aids GDP so the
49:00:00
the Rainmaker is that an active system
49:03:00
you're working on or is it live or yes
49:06:00
Wow you kind of you kind of have put all
49:11:00
this together and really thought about
49:14:00
all the different aspects that can that
49:17:00
can help people move everything forward
49:18:00
yes it's yeah look if we're gonna
49:21:00
democratize this man we needed to do it
49:23:00
right it took a lot of time and it took
49:25:00
a lot of thought about the ethics and
49:27:00
responsibilities in this right and
49:30:00
ultimately we're trying to do good for
49:33:00
the people it takes a lot of work right
49:36:00
it takes a lot of work to change the
49:38:00
world but the point of all this is that
49:43:00
that means that anybody anywhere in the
49:46:00
world can come up with an idea and make
49:50:00
some immediate money on it yeah and that
49:54:00
the corporations and enterprises are
49:57:00
happy to do it because it is so much
49:59:00
cheaper for them they're actually buying
50:01:00
all of the rights these patents for less
50:04:00
than a bond would be to secure against
50:08:00
infringement litigation yeah I agree
50:11:00
right
50:12:00
it's it's it's amazing in that respect
50:15:00
it is amazing now you don't know there
50:17:00
is one more aspect that's really cool I
50:20:00
mentioned that we could sell these to
50:22:00
Apple right however we could also sell
50:25:00
them instead to
50:26:00
investment bank like goldman sachs right
50:30:00
if we sold this investment pool to an
50:33:00
investment bank what they can then do is
50:36:00
split it back out and sell equities out
50:40:00
of this investment pool what I'm
50:44:00
literally explaining here is the ability
50:47:00
to buy and sell shares of the iPhone
50:50:00
without ever buying a single share of
50:53:00
Apple Wow eight years earlier Wow
50:57:00
amazing there's so much there's so much
51:02:00
to comprehend in this it really has it
51:05:00
you're doing a great job explain it but
51:08:00
I know a lot of my listeners are gonna
51:09:00
have to they're gonna have to listen to
51:10:00
this episode two or three times and I
51:15:00
know that any of the listeners out there
51:17:00
are going what is this John talking
51:20:00
about and I know that there's a there's
51:22:00
a lot of shows I mean there's a lot of
51:24:00
interest in what you're doing I know
51:25:00
that and and you're going to be on some
51:27:00
primetime shows talking about this is a
51:29:00
other some some booked events that our
51:32:00
viewers can watch you on or or even so
51:35:00
yeah absolutely absolutely so so one of
51:38:00
the things is I would suggest that
51:40:00
anybody join our telegram channel if
51:42:00
you're interested in this if they're
51:43:00
interested in buying our cryptocurrency
51:46:00
anything along those lines and that is
51:50:00
[Music]
51:51:00
from here that is Loki I believe
51:58:00
underscore I I oh yeah okay sorry Loki
52:06:00
underscore invent I and nve and and the
52:10:00
Loki underscore IO is our Twitter and
52:13:00
you can go to Loki IO for the website
52:16:00
and find all this stuff as well and
52:17:00
articles that were written about it all
52:20:00
that source stuff as far as public
52:22:00
speaking events I'm in Barcelona right
52:25:00
now for the blockchain solutions for
52:28:00
them it's an amazing turnout here I
52:30:00
think we're expecting fifteen to twenty
52:33:00
five thousand people here they'll be
52:35:00
attending Wow
52:37:00
it's pretty incredible for like three
52:39:00
thousand dollar tickets but
52:41:00
and then from here I go to New York very
52:46:00
briefly for some Wall Street stuff and
52:48:00
then off to block on in Santa Monica
52:52:00
that'll be next week and then from block
52:58:00
con I don't know just just just showing
53:04:00
the telegram or Twitter and and you know
53:09:00
listen for for updates there I know I've
53:11:00
got money 2020 in Vegas
53:14:00
I've got decentralized in in here goes
53:17:00
Cyprus the world blockchain forum or
53:22:00
something along those lines in Dubai
53:24:00
there's something in Moscow and Shenzhen
53:27:00
and Tokyo and just about anybody
53:31:00
anywhere in the world you'll be able to
53:32:00
come and see me speak no that's that's
53:35:00
awesome when again John 9 you know we're
53:37:00
gonna get going I know you gotta go here
53:38:00
in the airport this show has been really
53:42:00
really eye-opening and I hope that our
53:45:00
listeners take advantage of all the
53:48:00
things that you've done over the years
53:50:00
they get to just log onto the site and
53:52:00
get started I mean that's they're gonna
53:53:00
they're gonna take take advantage of
53:55:00
years and years of what you've done and
53:58:00
I think that's the way you put this
54:00:00
together so thank you the one thing I
54:03:00
would preface here is that for anybody
54:05:00
that wants to try the site out I know
54:07:00
that a lot of people usually use a
54:10:00
control like they search for a patent
54:12:00
that they know of I mean the system
54:15:00
isn't really fundamentally made for that
54:17:00
right if you're gonna do that you could
54:19:00
just use Google patents or something
54:20:00
along those lines if you know exactly
54:21:00
what you're looking for what you really
54:25:00
ought to do is is try to look for things
54:28:00
in an area that you know not necessarily
54:32:00
the keyword right so try it out it's
54:36:00
getting better and better and better
54:37:00
every day we just launched the thing six
54:40:00
or seven weeks ago and then you know the
54:44:00
other big thing is requests to use it
54:46:00
through your law firm
54:47:00
whatever your law firm is request right
54:49:00
it's it's free for the law firms to
54:52:00
become affiliates great idea
54:54:00
they'll make a small margin on it as
54:56:00
well and it will cut down their loss
54:58:00
leader right it'll lower their barrier
55:00:00
yourself so requested from the law firms
55:03:00
they can get in touch with my team
55:04:00
directly or they can shoot us me mom
55:08:00
that's great John thank you so much
55:10:00
we're gonna get going from myself
55:12:00
calling Guinness co2 from all of our
55:14:00
listeners John thank you so much for
55:17:00
being on the show today I think that a
55:19:00
lot of our guys are gonna be benefiting
55:21:00
from your hard work my friend thank you
55:23:00
very much I hope so
55:24:00
I aim to please yeah you take care we'll
55:27:00
talk you through Than

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