When a new new technology comes into the scene. Piracy is just bound to happen! Don’t you think so? It will be used to pirate movies, music and all the other intellectual property. We all know the internet has been a blessing and has made sharing much easier than ever before. But, everything has its cons right? It’s also been a source of stress and anger for many. We are talking about it has invited digital piracy. Let’s just admit it. We have at one point in our lives committed this felony. If you haven’t. We admire you!
Let’s take the music industry, it has been in war with technology ever since and the Hollywood has always hated all the consumer pirates. The blockchain technology which somewhat resembles torrents and other types of person to person services are used to pirate the protected content, is unfortunately findings it was into these industries. That’s not good! But, the pirates? They are thrilled about it and we know why.
Netflix and Spotify are startups that have already hijacked a huge share of the market from the traditional television and radio. But, wait! The blockchain technology is not all beds and roses. It makes an amusing loophole in the digital copyright law my friend!
Piracy Strips Away from Paying the Creators
It’s a huge issue and don’t you think the creators deserves their money? The biggest problem RIAA (Recording Industry Association of America) has ever faced is ensuring that streams are tracked and all the companies the compensation they truly deserve for their work. Contract negotiations has what kept away Spotify, Amazon Prime and our much trending Netflix from accessing all the full range of video and music available on the market. But, guess what? Blockchain technology can fix it once again! The decentralization tokenization can fix the problem surely!
Blockchain such as the YouNow apply make use of the blockchain based models and tracking to compensate the creators of the content automatically with the help of a public ledger. Oh, how the blockchain technology never disappoints us! That’s why we are in love with it. After all these people deserve what they have worked for! And, the “They already earn A LOT and a few dollars won’t hurt them” is an argument we are definitely not a fan off. What’s right is right! What’s wrong is wrong!
Unfortunately, the Pirates Won’t Stop!
The truth is! People won’t just stop. Probably because its a business now. The pirates earn a lot through it because of which the U.S economy approximately loses $12.5 billion every year. You see? We have opened your eyes to the reality. And, my my that is a huge sum of money. It’s billions of dollars man! The RIAA has hands down blamed piracy for the lost revenue. But its hasn’t stopped our favorite artists like Rihanna, Bruno Mars, Eminem, Justin Bieber and Taylor Swift from breaking the billboard sale record in a the modern digital age of media.
Blockchain is in its initial stages and it will be inevitably used to combat and even commit piracy. That’s what technology is you know! What we can hope for is that its used for the later than the former. One can only wonder how it will be used for either! Fingers crossed!