FARAD is an attempt at providing a new novel way of commoditising Intellectual Property Rights related to a set of technologies related to metal oxide based ultra-capacitors development and production. The approach taken here is by introducing forward contracts based on the manufacturing application of the technology, and how these forward contracts are structured as the underlying assets of a digital commodity. The commoditisation program entails identification of the economic appropriation rights for the technologies and how it could be coded onto Ethereum Blockchain Smart Contracts, which would then create a tokenise digital asset commodity called FARAD.

This digital asset is named as a “Cryptoken”, signifying the cryptographic element of the Ethereum Blockchain and the tokenising of the digital asset. Each Farad Cryptoken ("FRD") represents a right to the contract manufacturing and sales agency agreement with HK Aerospace Beidou New Technology Co. Ltd (HK) to produce ultra-capacitor cells with an output of 1,600,000,000 mF over a period of 36 months. Each FRD represents 1 mF.