Entertainment behemoth Sony Corporation announced Monday the development of a blockchain-based tool for the management of the rights to intellectual property such as music, videos, and written works.
The immutability of the blockchain makes it perfect for the recording and storage of creative rights, Sony claims. According to Computer Business Review, the company already has a similar system in place specifically for authenticating, sharing, and rights management of educational data.
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That system was announced last year and is built on IBM’s blockchain, according to the company’s official release. It uses IBM’s cloud computing service and blockchain network Hyperledger Fabric 1. No technical details for its rights management system were revealed in Sony’s Monday release, but it may be built in a similar fashion.
The Changing World of Digital Rights Management
Sony made $870 million in profit on music sales alone in the past financial year and recently changed its approach for paying royalties, reportedly compensating partner labels and artists from its Spotify shareholding this past summer. This new rights management system appears to be a mother bid by Sony to stay ahead of an entertainment landscape constantly changing in the wake of increased online access and individual capability.
Near the close of the release, Sony said it was considering commercializing its blockchain system for the management of educational data, saying of the system:
“This newly developed system can be utilized to manage educational materials and other forms of content used in the field of education, and Sony Global Education is considering its possible commercialization as a service.”