Research by Market Study Report revealed that more and more companies are incorporating blockchain tech in digital rights management (DRM). The study also showed overviews of segments that implement this innovation.
Looking into current market sizes and 5-year growth forecasts, Market Study Research analyzed the use of blockchain in DRM. This covers a wide scope of factors, from applications and types to manufacturers that produce these tools.
According to the report, businesses use blockchain in DRM for products and services for other businesses and customers. Moreover, these tools are used specifically for rights management, royalty processing, token distribution, and other attribution and intellectual property protection purposes.
When looking into the industry players that produce this tech, the report named leading company Sony as the top manufacturer. Other firms include Binded Inc (dealing with software solutions), Custos Media Technologies (blockchain tech) and Mediachain (blockchain data solutions).
Blockchain is popularly known as the technology that enabled crypto assets and cryptocurrencies. Japanese company Sony is one of the first companies that implemented this tech in keeping track of content consumption.
While less information is available regarding Sony’s blockchain-based DRM system, many researchers have been able to analyze it. According to Cointelligence, this new system will be built on Sony’s existing DRM.
In the past, Sony had been caught in DRM-related issues including the controversial “BMG copy protection rootkit scandal.” The company was criticized when its then newly released DRM system on CDs was found to be injecting malware onto computers. The new blockchain-based system is Sony’s attempt to upgrade its DRM and prevent the occurrence of similar scandals.
Cointelligraph said that the incorporation of blockchain can improve the efficiency and effectivity of tracking information. When applied to content creation and consumption, this will enable more successful attribution to creators. Similarly, this can potentially track verifiable information of consumers.
Sony Group clarifies that the utilization of crypto-related tech will make recorded verifiable information more “difficult to falsify.” Moreover, Cointelligence explained that the use of this technology “means that any and all activity regarding a certain trademarked product is saved onto the chain.” This will offer “indisputable proof of use” and misuse.
The Market Study Research noted that the projected growth rate of implementing blockchain in DRM will change drastically from 2020 to 2025. With Sony’s lead more and more media and manufacturing companies may decide to implement similar systems.