Blockchain Startup Yuanben Trying to Crackdown Piracy in China
China has long been criticized for its poor intellectual property rights(IPR) protection. But thanks to blockchain tech, things have changed for the better.
A new startup, Yuanben, or Original, is working to crackdown piracy through blockchain. It is a timestamp-based platform where data recorded is immutable.
But when Copyright infringement occurs, can such information beused as evidence to fight against piracy?
Wu Peng, CEO of the startup, claimed that they would encrypt words, pictures and audio-visual works on blockchain, and they would work with notary offices or lawyers to help copyright holders when necessary. In other words, all those information is legally effective.
“We will expand our business to cover areas like media, government affairs and IPR protection, “added Wu.
For instance, some government documents are accessible to the public, but when be disseminated, these documents could be distorted and become misleading. If government stores them on the Yuanben Chain, it could keep them intact and genuine.
As for profits, though it offers free copyright verification service, but when transactions are made on the Chain, it would charge additional service fees. At present, over a dozen government departments and media agencies are posting their documents or articles on Yuanben Chain.