- Telecommunications Giant Vodafone Leaves the Libra Association
- Group of Central Banks Assesses Developing Central Bank Digital Currencies
- South Korea Might Impose 20 Percent Tax on Cryptocurrency Profits
- Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously
- Canadian Securities Administrators Subject Crypto Exchanges to Securities Laws
Blockchain technology is a decentralized platform that aids the sharing and storage of data and information; it is a safe environment for storing information and verifying the authenticity of data and information. Just what every organization needs.
Over the past few years, we have seen different organizations – including but not limited to business ventures, telecommunication brands, football clubs, and media companies – partner with blockchain firms with the aim of leveraging the technology’s benefits for the growth of their organizations. This trend is showing no sign of slowing down but rather spreading across a wider range of applications – as the Japan-based Sony Corporation has today taken the application of the blockchain technology up a notch by creating a blockchain-based rights management system for digital contents such as e-books, films, electronic textbooks, videos, music, and virtual reality contents.
Today, technology has made it possible for anyone to broadcast and share contents on the internet but not much technological advances have been applied to the rights management of the contents on the web. The age-long method of managing contents by industry organizations or the content creators is still in practice. This not-good-enough digital content management method inspired Sony to borrow a leaf from its Global Education management system and create a blockchain-based system that would help proving the ownership of digital contents, the date and time each electronic data was created, among other things.
The new system, which is a kind of modification of the previous Global Education system, will also allow the authentication, sharing, and right management of educational books and related data. Due to the many applications of this new innovation, Sony is yet to give a comprehensive use and area of usage of the new platform but the press release stated that it is yet contemplating possible uses in a wide range of fields.
The press release also stated that this is not the last blockchain-related news we will hear from Sony as the company is still considering the different ways possible to leverage the many benefits that come with blockchain technology.
Well, I believe this new innovation will be of immense benefit to content creators as plagiarism and copyright-related problems will be curbed to a minimal level. Written works, music, virtual reality contents, film, and the likes can now be easily traced to the original author (which was considered conventionally impossible in the past) and the exact date and time they were created also. This will help reduce copyright-related issues drastically.