In a recent study, conducted by a legal expert from the Texas A&M University School of Law, it has been suggested that blockchain technology has the potential to bring about a substantial transformation in copyright institutions. This transformation could impact both domestic and international processes.
The research indicates that blockchain’s immutability makes it ideal for integration into the intellectual property system. Author Peter Yu highlights that blockchain-recorded transactions are highly resistant to alteration. Any potential errors would require a new transaction to be added to the blockchain, ensuring correction.
Blockchain Benefits for Copyright Management
This feature makes blockchain technology highly attractive for functions like copyright registration, ownership, and licensing record storage.
Yu also emphasizes the advantages of blockchain technology in the realm of copyright management. These advantages include its ability to provide traceability, transparency, and disintermediation.
Traceability, as defined in the study, refers to the ability to track the complete history of a copyright registration from its initiation.
Blockchain’s Transparency and Disintermediation: Paving the Way for a Decentralized Copyright Institutions
Additionally, enabling public access via a blockchain explorer enhances transparency, surpassing traditional records. The paper also delves into the concept of disintermediation, which pertains to the blockchain’s ability to operate independently of a central authority.
This enables global collaboration without relying on a trusted intermediary, such as a government or a financial institution. Yu envisions an autonomous copyright system governed by artists and businesses, separate from state control.
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