Blockchain’s promise to content creators

By September 6, 2016Bitcoin Business

This story was delivered to BI Intelligence " Digital Media Briefing " subscribers. To learn more and subscribe, please click here . Blockchain technology may hold the answer to an issue that has long troubled the creative industry: digital rights management. Through its function as a public database, blockchain can store information about a piece of content, like who has created it, while sharing it with everyone else on the network in an immutable way. SingularDTV is a company that is looking to do just this by building a decentralized platform on Ethereum – a blockchain-based developer ecosystem — to help content creators produce, protect, monetize, and manage their creations, Nasdaq reports . Blockchain technology could transform the creative industry, and particularly rights management for artistic works, in several ways: Rights protection. Blockchain functions as a public database, or distributed ledger, to account for all goods and transactions on the network. This has direct applications to content, which can be timestamped and stored with a unique ID. Once this information saved, it’s virtually unchangeable, unlike most pieces of digital content nowadays that, once downloaded, can be modified at our leisure. Transparency is thus one of the biggest benefits of this system. The rights to a particular piece of content can be seen by everyone participating on the blockchain network, rather than stored on a stand-alone server owned by a record label or copyrights collection society. Monetization. Blockchain transactions are based on smart contracts – code-based contracts that are activated by a given procedure (behavior), and validated by all other computers on the network. Content owners are able to program a set of smart contracts around different usage policies for their creations. When another user wants to consume or repurpose this content, they select the appropriate usage policy for them, […]

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