Japanese electronics giant Sony Corporation along with Sony Music Entertainment Inc. and Sony Global Education recently announced that it is developing a blockchain-based rights management system software for virtual content. The latest system has been inspired by the Sony Global Education and Sony’s previously developed system for sharing, authenticating, and educational data rights management. The system also includes additional features functionality that helps in processing information related to rights.
With the help of blockchains, it is possible to create networks where no one can destroy or falsify programs and information. These networks offer free transfer of data and rights features due to which blockchain can be used for fulfilling requirements of a range of services including merchandise distribution management, finance, and sharing economy. In the future, blockchain can bring even more innovative services.
Blockchains are being popularly used for conducting P2P network transactions mostly involving virtual currencies such as Ethereum (ETH) and Bitcoin (BTC). Even though technological advances in the digital content creation have made sharing and broadcasting the content much easier, the system of rights management of that content is still conventional. It is the need of the hour that a more modern and advanced approach towards rights management should be introduced.
Sony’s blockchain-powered rights management system software help to manage and demonstrate the ownership related to the copyright information for the created content reported Sony. This new system specializes in managing rights-related information of works that have been written. It also includes features that demonstrate the time and date when the written work or electronic data was created.
The system uses the properties of blockchain to the best of its advantage and records verifiable information which is most difficult to falsify. It identifies the previously recorded works thereby allowing the participants to share as well as verify when a person created the electronic data and who the person behind the creation is, reported Coindesk.
The rights management software system based on blockchain will support regular digital content such as music, ebooks, video, virtual reality content and more.
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