South Korean conglomerate CJ has announced that it will be working on introducing blockchain copyright protection to the music industry in the country.
According to a recent report published by Yonhap, CJ OliveNetworks, which is a subsidiary of the conglomerate, has set out to explore the possibilities offered by blockchain technology.
The report details that CJ OliveNetworks has set its sights on the Amazon Managed Blockchain Service for the foundation of the new blockchain copyright protection system.
The main goal behind this project will be to safeguard and protect the rights of musicians and creators in the country by utilizing the secure storage offered by blockchain technology. Not only that, but the system will also aim to boost sales and performance statistics, as it will keep a detailed report of every time a song or music piece is being listened to.
What is even more impressive is that the blockchain platform will also aim to reward artists after every single of their pieces is being listened to, which means immediate payment for their work.
Blockchain copyright protection
Blockchain copyright protection is becoming increasingly popular in many publication-related industries.
The music industry is probably the most notable example, as CJ OliveNetworks is not the first enterprise to try and introduce distributed ledgers to music. A recent collaboration between Cyber-FM and Mainstream for the Underground (MFUT) aims to bring blockchain copyright protection to the radio streaming industry as well.
It is not surprising that blockchain technology is entering the arts-related fields, as these are the ones suffering most from copyright and publication issues. Blockchain has the unique potential to store copyright data securely, without giving hackers the ability to change this data and use it for their profit.
Featured Image by Gavin Whitner