DIGITAL RIGHT, SMART CONTRACT AND BLOCKCHAIN

by | Jun 6, 2019 | Blockchain, Technology | 0 comments

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sirfitech - indepthorb: smart contract and digital right

Human rights of individuals regarding to access and use of computers or other electronic devices, or the ability to use, create, and publish digital media is termed as digital right. For instance, right to privacy and freedom of expression in internet era.

Digital right is very important when we talk about data to help understand how our data is being used by companies, governments and internet giants. 

Discussing about digital right we need to understand smart contract which allows the performance of credible transactions without third parties and makes the transactions trackable and irreversible. Its aim is to provide security and to reduce transaction cost. Smart contract is built on blockchain. Hence, a blockchain-based smart contract is visible to all users of said blockchain. 

Some people tend to ask questions like; should we trust government with our data? Who is looking at my data? While not avoid such questions and secure your data in blockchain since you know that governments, companies, and cyber criminals can easily collect your data and track your movements or communications.

DIGITAL RIGHTS MANAGEMENT

Digital rights management is termed as a systematic approach to protecting copyright for digital media. Or rather for preventing unauthorized redistribution of digital media. 

The issues of digital rights is basically in music industry, film industry, software industry and the publishing industry where most people would rather not pay for things if possible but can illegally copy from one device to the other. Hence, digital right management helps to prevent unauthorized sharing of copyrighted work, for Piracy Protection & revenue loss, to secure sharing, to enable Cost & time savings.

HOW CAN BLOCKCHAIN BE APPLIED IN DIGITAL RIGHT?

Blockchain facilitates the protection of digital rights by securing the right of an individual and avoiding copyright infractions. By using blockchain, Individuals that always need to depend on a third party service provider can eliminate the intermediaries and will be able track their distributions.

With blockchain, publishers can time stamp and person stamp all digital content and ensure that the copyright belongs to you and the owner can be traced back to the content creator.

Blockchain ensures a secure payment system for publishers and authors with smart wallets enabling them to receive payment directly in their wallets without the need for a third party executing agency.

Blockchain can enable free and secure exchange of digital content and also can track and keep a record of every transfer of ownership with automatic payments made into the smart wallets.

With blockchain, digital rights management companies can access the full record of transactions to find the exact timestamped “block” when any project rights were first transferred and people made contributions to that project. It can therefore benefit individuals by imposing the extra controls over your information that allow you to remain totally in control. 

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