How can Blockchain Technology Reshape the World of Copyright?

Blockchain has gained widespread attention as an evolving information security system

Since the launch of Bitcoin, the first decentralized peer-to-peer digital payment system, blockchain technology has developed significantly. It is used to secure online payment protection and privacy and is typically related to cryptocurrencies. It can, nevertheless, be extended to digital transactions of all sorts. Presently, the benefits of the innovation behind Bitcoin are being understood in various fields by developers. Many industries are finding ways to incorporate blockchain into their infrastructure and services, from healthcare to banking.

Blockchain technology can also theoretically help create a registry of unregistered IP rights, including the unregistered design rights and copyright, as it can effectively provide proof of the time of existence  rights management information (if appropriate) and conditions for jurisdiction.

According to Primeur, "Many experts believe that technologies like blockchain will revolutionize the world of copyright and intellectual content production in the next years. One of the blockchain applications you are expected to see is an intellectual property register, because it can be very difficult to trace the chain of ownership for copyrighted works."

Copyright 

Copyright guards the original literary or artistic creation of an individual which is fixed in a tangible medium of communication. Copyright is regulated by national legislation and is thus controlled by a centralized government body, so, of course, the scope of security depends on the laws of a country. Nevertheless, by dealing with international treaties and agreements, most countries offer some security of foreign works.

Blockchain technology and copyright protection

The circumstance of digital copyright violation is becoming more and more severe with the accelerated growth of the digital publishing industry, and numerous twisting cases are significantly diminishing the passion of the original authors. Blockchain has gained widespread attention as an evolving information security system and has become a powerful component of information protection over the years.

The digital copyright data is contained in the block by integrating blockchain technology with the registration protection of digital rights, and each block is linked to the block chain in the form of a time stamp by a hash pointer to the hash value of the previous block, which guarantees that the digital copyright information cannot be manipulated.

Not only does blockchain contribute itself to implementing legal rights, there are a variety of businesses that are focusing on almost entirely automated ways of developing payment processes.

As per report of Practice Panther, "Today, there are several companies using blockchain technology to register and protect copyrights, including Binded, Pixsy, TinEye, Ascribe, Mediachain and Proof of Existence. Through these media, individuals are enabled to not only find this artwork but also use and trade work in a manner that does not infringe upon the rights of the creators. So long as the members of the blockchain are strong and the data in question is distributed amongst the chain, the information contained by the blockchain is designed to be durable, have longevity, and to be a highly dependable source."