Digital Rights Management

Digital Rights Management

Our digital lives have evolved since the dawn of the internet. Now blockchain comes as an integral part in the sphere of digital from every digital transaction, exchange of value , goods and services to private information.

Blockchain can store information such as who create a content while sharing it with everyone in an unchangeable way. It does not have a single point of failure from which records or digital assets can be hacked or corrupted.

Blockchain technology preserves particularly the digital rights such ways:

 

Rights Protection

Blockchain functions as a public database or distributed ledger to record goods and transactions on the network. The information saved is virtually immutable. Transparency is the biggest advantage of this system. The rights to a specific information can be seen by everyone participating on the blockchain network.

 

Monetization

Blockchain transactions are based upon smart contracts. Smart contracts are coded based contracts that initiated by a given procedure validated by all the computers on the network. Content owners are able to plan a set of smart contracts for numerous usage policies of their creation. If another user wants to repurpose the content, he selects the suitable usage of policy for him and immediately reward the creator via smart contracts they have chosen. Cryptocurrency is the main application of blockchain, thereby these payments are given away automatically at a near zero-cost.

 

Empowering Creators

Blockchain empowers a direct to creator network whereby consumers communicate directly with creators and have direct access to their content. It clears away intermediaries from content distribution and rights management process shifting all of the financial upside to creators. The use of cryptocurrency prevents a third party payment processor who mostly collects a 4-6 % transaction fee.

 

Content Creation

Creators are able to tag content metadata (that is, data about data), along with additional copyright information, can improve the discoverability and shareability of that piece of content. It opens the door for other creators to build on top of that work.