HOW CAN BLOCKCHAIN TECHNOLOGY RESHAPE THE WORLD OF COPYRIGHT?

Blockchain has gained widespread attention as an evolving information security systemSince the launch of Bitcoin, the first decentralized peer-to-peer digital payment system, blockchain technology has developed significantly. It is used to secure online payment protection and privacy and is typically related to cryptocurrencies. It can, nevertheless, be extended to digital transactions of all sorts. Presently, the benefits of the innovation behind Bitcoin are being understood in various fields by developers. Many industries are finding ways to incorporate blockchain into their infrastructure and services, from healthcare to banking.Blockchain technology can also theoretically help create a registry of unregistered IP rights, including the unregistered design rights and copyright, as it can effectively provide proof of the time of existence  rights management information (if appropriate) and conditions for jurisdiction.According to Primeur, “Many experts believe that technologies like blockchain will revolutionize the world of copyright and intellectual content production in the next years. One of the blockchain applications you are expected to see is an intellectual property register, because it can be very difficult to trace the chain of ownership for copyrighted works.”