Creators and owners of original digital content anywhere in the world can now register their work on a new blockchain-powered platform called CopyrightBank.
The platform, developed in Melbourne, enables books, music, photographs, artworks, films, computer programs, databases and other creative works to be digitally fingerprinted on the blockchain as a way to verify ownership — with a launch price of only US$1 per work.
Users can simply register for a free account on CopyrightBank, upload their digital work, get timestamped and registered on the blockchain to receive a certificate of registration.
“As a society, we’re creating more content than ever. Digital content in particular is exceedingly easy to create; anyone with a smartphone is a potential photographer, film-maker or music producer. But the legal protections for content creators haven’t moved with the times accordingly.
There needs to be a way for content creators to simply and effectively register their copyrights in order to prove ownership, and this is exactly what we’re providing with CopyrightBank,” said David Oh, the CEO and Founder of CopyrightBank.
The platform is built on the NEM blockchain, a blockchain that was designed and coded from the ground up for scale and speed. Unlike other blockchains or digital ledgers, NEM’s ‘plug and play’ approach is designed to offer startups and businesses a customisable, easy and secure method of making transactions and storing digital assets.
“CopyrightBank is an idea that has taken more than 10 years to come to fruition and it has been made possible today because of the NEM blockchain. There are many projects trying to build real-world use cases on the blockchain, but many have failed or are facing undue delays due to numerous technical challenges,” Mr Oh added.
“The beauty of designing this system for the NEM blockchain is that the powerful cryptographic algorithms ensure the integrity of the information. As a result, the digital fingerprinting, time-stamping and recording by CopyrightBank can be relied on.”
Bill Angelidis, CEO of Asta Solutions, a Melbourne-based systems integrator who developed the CopyrightBank platform, said: “The development team found it fairly easy to build on NEM because of the API architecture that simplifies the creation of client apps. As a result, it is possible to implement usage of the blockchain utilising any programming language.”
CopyrightBank has been allocated $USD500,000 from the Community Fund of the NEM Foundation, a not for profit organisation with a focus to introduce, educate and promote the use of the NEM blockchain technology platform across all industries on a global scale.
“The NEM community fund exists to support projects that showcase the versatility of the NEM blockchain. We are very happy to see the first phase of CopyrightBank being completed and delivered,” said Jason Lee, Expansion Director for Australia and New Zealand for the NEM Foundation.
“We invite enterprises, digital content creating and hosting platforms as well as governments who want a white label solution for online copyright registration to partner with us. We are not resting. The development team has already started working on the architecture for our mobile app. When it launches, it will be a real game-changer,” added Mr Oh.
Members of the NEM community are invited to create a free account at www.CopyrightBank.com to try out the platform. Use the coupon code NEM50% to get a 50% discount off your purchase.