• About Us
  • Advertise
  • Contact Us
  • Editorial Policy
  • Privacy Policy
  • Team
Tech News, Magazine & Review WordPress Theme 2017
  • Bitcoin News
  • Blockchain News
  • Cryptocurrency News
  • PR
  • Price Analysis
No Result
View All Result
  • Bitcoin News
  • Blockchain News
  • Cryptocurrency News
  • PR
  • Price Analysis
No Result
View All Result
CurrentCryptocurrencyNews
No Result
View All Result

South Korea’s CJ Group Integrate to Amazon’s Blockchain for Music Copyright Management System

Christofer Wright by Christofer Wright
March 17, 2020
Home Blockchain News

South Korean conglomerate CJ group’s subsidiary CJ OliveNetworks will initiate to use Amazon Web Service (AWS)’ “Amazon managed blockchain service,” to develop a blockchain-based music copyright management for tracking music in broadcast content, to help build a fair revenue model. The system will keep a record of a broadcast of copyrighted content and store it on the blockchain.

CJ OliveNetworks will use AWS service Elemental Media Convert, to extract music from broadcast content.

Kim Eung-do, Director of the CT Convergence Research Institute at CJ OliveNetworks, says,” The blockchain-based copyright management system will greatly contribute to improving the copyright management process.”

CJ OliveNetworks has an IT division that deals with the internet, cloud computing, and big data.

Amazon launched AWS in Korea in 2016 and started offering blockchain management to the Korean people in 2018.

In the digital age, illegal downloads and streaming services have left the artist as well as the music label out in the cold and deprived them of a share of the royalty rightfully due to them.

Blockchain technology could change all that and help artists and music labels re-assert control over their copyrighted material. If an artist’s price for an album is entered as a smart contract in a blockchain, then only those users who pay for the price of the album can listen to it. Illegal downloads will also end as without payment no user can access the album. Moreover, the artist can distribute the album on the blockchain himself. That will end the distributor’s role and hence, a larger share of the revenue from his album will reach the artist.

Also, the ledger of various downloads on the blockchain will be visible to both the artists and the users; thus, transparency will increase, and a fairer revenue model will be created in copyright management.

Christofer Wright

Christofer Wright

Christofer Wright is an experienced news writer and holds a journalism degree. Presently he is working as a sub-editor at Current Cryptocurrency News. He leads a team of news writers and regularly contributes his knowledge and ideas for news writing. In his free time, he even writes some featured articles regarding cryptocurrency market updates & latest happenings.

Next Post
No Timetable for its Sovereign Digital Currency, Says PBOC Governor

There is “No Timetable” for its Sovereign Digital Currency, Says PBOC Governor

Recommended.

US Judiciary Accuses Two Nigerian Scammers of Bitcoin Scam of worth $270,000; FEDs still unable to find them

US Judiciary Accuses Two Nigerian Scammers of Bitcoin Scam of worth $270,000; FEDs still unable to find them

March 17, 2020
Bitfury Launches Bitcoin Mining Funds In Collaboration With Swiss Investment Company

Bitfury Launches Bitcoin Mining Funds In Collaboration With Swiss Investment Company

April 29, 2020

Trending.

Is It Profitable to Mine Hedera Hashgraph Coin?

Is It Profitable to Mine Hedera Hashgraph Coin?

March 24, 2022
AVAX Outperforms The Global Crypto Market, Increases Its Staking Rate to 50%

AVAX Outperforms The Global Crypto Market, Increases Its Staking Rate to 50%

March 14, 2022
Polkadot Has the Lowest Carbon Emissions: Report

Polkadot Has the Lowest Carbon Emissions: Report

February 4, 2022
Solana Was Trending in 2021; Why Is It Falling Now?

Solana Was Trending in 2021; Why Is It Falling Now?

March 3, 2022
Fantom Launches USDB Stablecoin

Fantom Launches USDB Stablecoin

April 1, 2022
CurrentCryptocurrencyNews

CurrentCryptocurrencyNews is your one-stop news source for everything related to cryptocurrencies. You can read the latest news headlines for 24/7 on any screen. In addition to that, we provide latest news stories including fundamental and technical analysis. So, our main aim is to help crypto enthusiasts to grow according to current trends.

Email: john@currentcryptocurrencynews.com

Follow Us

Cryptocurrency Updates

This App Could Help You Invest Wisely In Cryptocurrency
Cryptocurrency News

This App Could Help You Invest Wisely In Cryptocurrency

by John Roberts
March 17, 2020

Categories

  • Bitcoin News
  • Blockchain News
  • Cryptocurrency News
  • PR
  • Price Analysis

Recent Updates

Teller & Chainlink to Develop Undercollaterzalized DeFi Lending

Teller & Chainlink to Develop Undercollaterzalized DeFi Lending

September 19, 2022
Can You Make Real Money From Playing Crypto Dice?

Can You Make Real Money From Playing Crypto Dice?

May 10, 2022
Fantom Launches USDB Stablecoin

Fantom Launches USDB Stablecoin

April 1, 2022
  • About Us
  • Advertise
  • Contact Us
  • Editorial Policy
  • Privacy Policy
  • Team

Copyright © 2023. CurrentCryptocurrencyNews. All Rights Reserved.

No Result
View All Result
  • Bitcoin News
  • Blockchain News
  • Cryptocurrency News
  • PR
  • Price Analysis

Copyright © 2023. CurrentCryptocurrencyNews. All Rights Reserved.