Using Blockchain For Securing Media Content
With smart contracts and content licensing, blockchain will empower artists and content owners in ways they could not have imagined.
Fremont, CA: The unmatched reach of the internet and the development of technology trends have practically fueled digital innovation in every sector of the media industry. From the introduction of music streaming applications to the present domination of video streaming platforms, how the material is consumed has undergone a profound transformation. Every facet of media distribution has gotten more streamlined, including the way in which we acquire and store the content we crave. Movies, books, and music are currently supplanted with digital copies available on demand.
The protection of digital content is of the utmost importance, as the majority of digital media firms are losing money due to content piracy and illicit file sharing. Lack of awareness about modern technologies only accelerates their development. Hackers are employing increasingly sophisticated techniques to gain access to online content, such as web content tampering, deep linking, cache theft, and link sharing.
The constant buzz surrounding Blockchain technology and the enormous advancements it has made in fields such as finance, energy, and agriculture have prompted many to call it a disruptive technology. Blockchain is a technology that has the potential to alter the industries that use the technology radically.
How can blockchain be used for securing media content?
The blockchain is a distributed ledger that can facilitate seamless transactions using data from multiple parties coexisting. Blockchain technology allows multiple parties to have regulated access to a single shared data source. It is a database that is shared, replicated, and managed by consensus among the network nodes.
The beauty of blockchain technology is that it permits a decentralized and tamper-resistant digital marketplace. All transactions inside a decentralized network are chronologically recorded in a distributed ledger that is accessible to all parties. It is entirely encrypted, and no party may manipulate it in any way. Any business contract terms, rules, and logic that are programmed to automate a transaction are referred to as "smart contracts"—a concept that the media industry is gushing about at the moment.