Tech Mahindra has introduced the bCRMS blockchain platform, helping media creators get paid for their work by enforcing their online rights
Indian corporation, Tech Mahindra, has developed a platform to protect content creators from content piracy and unlawful distribution called the Blockchain-based Contract and Right Management System, or bCRMS.
The media and entertainment industry profits by selling original content. Content can be obtained freely through fraudulent means and then redistributed without permission. This act is called piracy, and is commonplace.
Alistair Rennie, the general manager at IBM Blockchain, commented:
“Digital rights management is a pressing problem impacting artists, content creators, and advertisers worldwide, potentially costing the industry billions every year.”
In 2019, the US Chamber of Commerce reported that online piracy costs the US economy $30 billion annually and could be responsible for up to 560,000 people losing their jobs.
Tech Mahindra takes on digital rights
bCRMS will rewrite how the traditional digital rights management process works by implementing smart contracts. This will help to detect and resolve any royalties issues by monitoring the authenticity and licensing of online media.
The blockchain platform will authorise the usage of content online in real-time.
Traditionally, this work requires a human moderator and AI detection. The existing system uses lots of human resources, and isn’t cheap — and may still, in fact, end up making mistakes, resulting in more time spent on fixing the problems.
bCRMS will automate this process and in turn, save time and money.
Tech Mahindra specialist Rajesh Dhuddu told media:
“As part of our TechMNxt charter, bCRMS is developed to usher in the next generation of digital rights management systems for the media and entertainment industry.”
Great news for content creators
bCRMS not only tracks for misuse of license properties, but it also allows the creator to track their royalty payments and revenue.
The system reportedly is designed to be scalable, so that up-and-coming artists, independent distributors and small producers can take advantage of an automated payment management system.
In the past, blockchain has worked with the entertainment industry on small projects, like decentralized storage solutions, such as BeatzCoin for music and videos.
With this newly developed technology, the future for the media and entertainment industry is bright. bCRMS will help artists and creators make the most from their work, and ensure that hard work gets paid for by the people who enjoy it.