Mediachain is Using Blockchain to Create a Global Rights Database

One of the biggest, still-dormant use cases for blockchain technology is in the field of media – the overarching term capturing a slew of creative professions whose traditional business models have been upended by lightning-fast digital file replication.

Across various fields, the problems are clear: writers, photographers and musicians lack the ability to prove and protect ownership of their works and ideas, a prospect that renders monetization in a digital environment difficult.In the face of this challenge, blockchain tech, with its ability to provide provenance, identity and micropayments has emerged as a potential antidote.

One of the more unique projects innovating in this area is Mediachain, a newly launched metadata protocol that allows digital creators to attach information to their creative works, timestamp that data to the bitcoin blockchain and store it with the InterPlanetary File System (IPFS), a distributed file system incorporating aspects of blockchain technology.

Source: CoinDesk

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