Intellectual Property Online: YouTube Red And Blockchain Technology
Google's announcement that it will be releasing a paid subscription-based membership to YouTube known as YouTube Red, is highlighting some preexisting issues with charging for digital content, issues which could potentially be solved through the implementation of blockchain technology.
In a recent article on MusicThinkTank, Jimmy Feterman discusses how the implementation of a cryptocurrency could be used to properly compensate creators and ensure that exclusive content is not pirated, thereby further incentivising users to generate orginal content.
"To do YouTube Red right, Google will have to pioneer a rights management initiative that protects, disambiguates, and organizes the world’s digital IP information. A database of ownership rights metadata has never been successfully compiled (See GRD for reference), but if anyone can do it, it’s Google. They’re the top of the totem pole in terms of sheer content and technological capacity, and they also have deep enough pockets to fund a project of this scope."