Blockchain to become the Cure for Piracy

Blockchain for copyright protection works towards reducing piracy and ensuring there is no infringement on legal rights for any piece of work.

Online piracy is one of the primary concerns for organizations across the globe. It attempts to infringe upon the rights of a product created by companies for exclusive use. The infringement results in a company’s product being freely available online. Piracy leads a business to endure enormous losses as the masses opt to use the freely accessible and easy to download version rather than buy an authentic version of the product.

Some of the commonly pirated works are movies, music, books, and other artwork. According to a report, globally around 53% of respondents between the age group of 16-24 agreed to access music by infringing copyrights. This statistic rang a bell of warning for entrepreneurs and pioneers to find a solution for piracy. Technology experienced fourfold growth in the last few years; organizations are leveraging numerous technologies to enhance their performance. Blockchain is a groundbreaking technology that automates multiple tasks and ensures efficient functioning of a company. CTOs and CIOs realize the threat of piracy and understand that this technology can help them to cure the epidemic of piracy. Blockchain for copyright infringement can be a technology that holds the potential to assist businesses to avoid piracy.

Current Piracy Related Concerns

Online piracy is one of the primary concerns for organizations dealing in the creation of movies music, literature, and art. One way piracy affects their workforce is copyright infringement. With copyright infringement, people obtain free access to the information whose legal rights belong to a particular company. People are attracted towards pirated material as it provides them with stuff that is charged initially to view on a company’s webpage. With pirated content, they can view shows, movies, listen to songs, use software that is chargeable on the web portal. Authorities want to take action to find the cure for piracy as it not only affects the organization but also leads to loss of revenue for the governments. As 75% of consumers view pirated content in Mexico, authorities reach out to technological innovations to assist them in their fight against piracy.

Blockchain for Copyright Protection

Blockchain is a disruptive technology that assists numerous companies to experience transformation. When launched, Satoshi Nakamoto claimed blockchain to be a technology that will increase transparency. With blockchain for copyright protection companies can comfortably keep track of several things. Blockchain has numerous applications. By venturing to solve the piracy issue in the world, blockchain works towards securing information and allowing everyone on the network to view the flow of functionalities. As cryptography is an essential aspect of blockchain technology, companies can use hash and private keys to avoid piracy. Any piece of work undergoing updates or changes are recorded on the blockchain network for everyone to view. Any form of unauthorized access to a copyrighted work would result to that block sending an alarm about copyright infringement. Blockchain for copyright protection is an application that can prove be beneficial for authorities as it ensures that companies do not suffer losses due to fraud. CTOs and CIOs can now search for ways to leverage this dynamic technology. Creating a blockchain network individually for an organization can stand as a challenge. Authorities should search for vendors providing Blockchain as a Service (BaaS).