Everyone lately has been really passionate about the blockchain technology but what is it and how it can help the intellectual property world? To put it in simple words, blockchain is a system of storing information but in a special way that makes it difficult if not impossible to hack and change without permission. You can consider it as a decentralized database distributed in a network of computers in the blockchain. Every time a new transaction occurs, it’s duplicated and added to every participant. If a hacker manages to corrupt a one block, it will be apparent that the information is not genuine anymore, the only choice is to try and hack all the computers but in Bitcoin and Etherum blockchains for example are continuously growing which just adds the security.
The nature of blockchains made it perfect for the digital money by solving many of the issues encountered by previous attempts. What became popular next to cryptocurrencies were the NFT-s which adopted the blockchain technology into giving to the NFTs a unique identifier and also made it possible to track the transactions and other events related to the NFT through a chosen blockchain provider.
Next in line is intellectual property and especially copyright. First of all, blockchain systems can help creators with demonstrating the creation for copyright purposes. This demonstration is what proves who is the real copyright holder and prevent the work being copied by others. All different types of work that fall in the copyright category can be uploaded to blockchain systems. Copyright owners also can modify the blockchain technology in order to protect their files from being shared or played without authorization. This can be offered even for streaming which nowadays has become the most difficult thing to protect as everything is done live.