Bitcoins, blockchains. These are quite the new technologies that have been the great “technical boom” in recent years. People bought bitcoins with the intention of making a fortune, and there is no doubt that this cryptocurrency had an impact on the current economy. The ability of this blockchain technology to be employed as money owes to its security. These technologies now assist artists in protecting their intellectual property.
As you may be aware, blockchain technologies are supposed to be incredibly secure and virtually hard to hack. It’s like writing with an everlasting pen in a secret diary shared with a small group of people. Outside forces will find it difficult to replace the original information blocks as a result of this. These traits, when paired with the notion of NFT (short for Non-Fungible Tokens), provide artists with considerably more possibilities than simply putting their work online. Artists may protect their artworks from being copied by producing NFTs, and they no longer have to deal with major disagreements about the authenticity of their work (Liu1). Stankovich agrees, claiming that with Blockchain technology, both the artist and the client will be thoroughly informed about the artwork and who is affiliated with it, resulting in a large drop in intellectual property infringement.
Works Cited Liu1, Yanhui, et al. “Research on Digital Copyright Protection Based on the Hyperledger Fabric Blockchain Network Technology.” PeerJ Computer Science, PeerJ Inc., 17 Sept. 2021, peerj.com/articles/cs-709/. Stankovich, Miriam. “Is Intellectual Property Ready for Blockchain?” Digital @ DAI, Sept. 2021, dai-global-digital.com/is-intellectual-property-ready-for-blockchain.html#:~:text=Blockchain%20can%20also%20serve%20as,and%20inventions%20using%20smart%20contracts.