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Cryptocurrency News

NEM Powered ‘CopyrightBank’ launches Blockchain copyright registration platform

By June 27, 2018 No Comments

Based in Melbourne, CopyrightBank is the first copyright registration and verification platform in Australia, and is a place where content creators and owners of digital works can digitally-fingerprint and protect their work by registering it on the blockchain.

Digital works can range from books, music, photographs, artworks and films, to computer programs and databases.

When a user uploads a file to CopyrightBank, it is digitally-fingerprinted, time-stamped and registered on the NEM Blockchain. A Certificate of Registration is issued which records the details of the registration.

CopyrightBank is built on the NEM protocol, which is purpose designed for scalability and transaction speed. NEM also features the option for a permissioned private blockchain feature, which allows companies and businesses to store information on the blockchain privately. This privacy feature is what allows platforms like CopyrightBank to use a distributed blockchain ledger for transactions, but also be able to keep data safe, secure and private.

So who might use a platform like CopyrightBank? It could be any person or organisation that wants the security and immutability of a blockchain to protect their intellectual property. Some examples are R&D departments, scientists and researchers, the education and training industry, authors, software developers, or even artists.

Less than 10 countries in the world provide online copyright registration. Digital works can easily be stored, transferred, manipulated and shared, therefore highlighting challenges around unauthorised copying, distribution, modification and use. This is a sentiment shared by the World Intellectual Property Organisation or WIPO.

CopyrightBank is the idea behind serial entrepreneur, blockchain strategist and intellectual property consultant, David Oh, with the idea being a decade in the making. Advancements in blockchain and distributed ledger technology are allowing many unique and innovative platforms to come to life, with no doubt many more coming in the near future.

Significant progress has already been made on the platform, with Grammy Award winner and co-founder of Tune Token, DJ BlackOut, registered his first song on CopyrightBank just last month. Also in the progress is the of registering 500+ New Zealand Maori works.

The platform is now live and you can check it out here.

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