/retail banking

News and resources on retail banking, consumer finance and reinventing customer experience in finance.
Ant Group unveils blockchain-based copyright protection network

Ant Group unveils blockchain-based copyright protection network

Ant Group has unveiled a blockchain-based digital copyright service for content creators.

Utilising the group's AntChain network, the digital copyright platform enables content creators to authenticate and verify a variety of original works, from music scores to videos, images, and articles and essays.

When a creator uploads his or her work onto the platform, the platform will first verify whether the content is the only one that exists within its database. It will then generate a unique digital copyright certification containing basic information about the work, as well as a notary stamp. These tamper-proof certifications can also be submitted as evidence in copyright infringement and tort cases.

Ant Group says the platform cuts the typically tedious and costly process of registering a copyright to just one minute while saving up to 95% in related expenditure.

"We believe that AntChain can play a pivotal role in building trust among multiple parties and solving real-life problems for the copyright industry," says Guofei Jiang, president of advanced technology business at Ant Group. “The AntChain-powered digital copyright services platform was specifically designed to address the pain points that creators typically encounter when trying to authenticate and protect their work.”

Shanghai C.C. Music Culture Co Ltd, a digital music score copyright distribution network, was one of the first partners to join the platform during its trial period. Now, musicians who are part of the Music Culture network can secure digital copyright certifications when they upload their original works to the platform and use smart contracts to record revenues generated through the IP. Once their work is successfully sold, the smart contract is triggered, and revenues due are automatically paid out.

Ant Group says that at present, more than 10 million original works are certified every day on the platform.

Comments: (0)