South Korea’s CJ Corp to use Amazon blockchain to manage copyright information

The South Korean conglomerate will use Amazon's blockchain to help store and manage copyright information

South Korean conglomerate CJ Corp will utilise Amazon’s blockchain to help store and manage copyright information, according to local media outlet Yonhap.

CJ Corp will utilise Amazon Web Services’ (AWS) file-based video transcoding service Elemental MediaConvert to extract music content from broadcasting data.

The blockchain copyright platform will reportedly bring a higher level of transparency to music copyright management by providing storage tools.

Earlier this year, Coin Rivet reported on three reasons why the music industry should move towards blockchain technology.

The report stated that not only can blockchain technology help distribute revenue in a fairer way to artists, it could also radically improve distribution and improve transparency within the industry.

In 2018, Seoul Mayor Park Won-soon outlined a five-year plan in which blockchain technology will reshape the future IT industry.

“There’s no doubt blockchain is the core technology of the fourth industrial revolution, which will shape the future IT industry. I will make efforts to help Seoul become the centre of a blockchain industry ecosystem,” he said.

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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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