Introduction
Digital data distribution and protection of copyrights hold a major share in the global economy,
and as more territories around the world become digitalized, this market share continues to grow.
Revenue generated globally from digital music downloading and streaming alone is estimated to
reach around US$20bn by 2021, with revenue from internet video expected to reach US$19bn by
the same year. To illustrate the size of online content consumption, 400 hours of video are
uploaded on YouTube every minute.
Online marketplace transactions and related copyrights protection services count for around 30%
of the entire size of the digital content distribution industry.
Problem
The existing legal framework and its incompatibilities with the online environment does not
provide sufficient protection to creators for their copyrights, especially to “smaller” contributors
who lack the abilities to safeguard their Intellectual Property from being downloaded, altered or
distributed without permission, and to monetize from their creation.
From a community perspective, whether content creator or content consumer, in the current
climate of centralized digital distribution platforms (for example YouTube), users’ privacy is almost
non-existent, as all centralized platforms keep track on their users’ searches and exploit their
stored personal details for marketing and generating revenue.
In summary – today there are no truly decentralized open marketplaces with the components
required for fair content distribution, content analysis, plagiarism check, and transparent search
of indexed content, which is not manipulated by a central hub for generating ads revenue.
Opportunity
Blockchain technology enables a basis for a seamless solution for registering, tracking, and
distributing digital data, whether it is copyrighted digital content or content still unprotected by
copyright laws.
Decentralizing the structure on which digital data is being distributed and IP protected will
challenge the status-quo and revolutionize the existing marketplace of content distribution and
copyright management.
Building a decentralized peer-to-peer ecosystem, which puts at its center the copyrights of
content creators and enables them to distribute their digital work directly between community
members, is part of the next evolutionary step in how data will be consumed and distributed in a
more accessible, cheaper, and transparent way.
Challenges
Currently, monetization of digital content through tokenized assets’ marketplace is mainly suited
for media-oriented content types, such as music, paintings and books, in oppose to a blog post, a
new algorithm, or an academic study.
Unforeseen regulation of cryptocurrency is always a looming shadow over the community.
However, as a growing number of senior figures in the economical sector and top tier companies
are starting to publicly shift favorably towards it, this shadow seems to gradually diminish.
Another challenge might be in the form of a slow integration into the market, as the ecosystem
branches out to content creators who are not yet part of the community.
Solution
groundbreaking technology for processing data, using a multi-layer index hashing
algorithm, will be implemented on blockchain for the first time, revolutionizing the existing system
of digital data distribution.
Novel technology authenticates digital data, which is then linked to a transaction on a
blockchain via smart contracts, timestamps it to provide an immutable and publicly readable
record of authenticity, tracks the uploading and sharing of the same content by non licensed
entities, verifies the IP and copyright of content creators, and allows them to monetize from its
distribution.
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