A recent research paper authored by Peter Yu, a professor at the Texas A&M University School of Law, explores the transformative potential of blockchain technology in the field of copyright administration. The research highlights blockchain's immutability, which makes it an attractive option for registering copyright, managing ownership, and recording licensing records. Key benefits identified include traceability, transparency, and disintermediation, which could lead to the development of artist- or business-led copyright systems that operate independently of traditional governing bodies.
A recent research paper authored by Peter Yu, a professor at the Texas A&M University School of Law, delves into the potential of blockchain technology to revolutionize copyright administration and intellectual property management. According to the findings, blockchain technology holds the promise of significantly altering the way intellectual property is handled on both domestic and international scales.
Yu, who serves as a regents professor of law and communication and is the director of the Texas A&M University School of Law's Center for Law and Intellectual Property, argues that the immutability of blockchain technology makes it a prime candidate for integration into the intellectual property system. The immutability feature of blockchain means that once a transaction is recorded, it becomes virtually impossible to alter the record. In cases where a transaction is incorrectly recorded, the blockchain requires a new transaction to be hashed into the ledger to provide the necessary correction. This quality is particularly appealing for registering copyright, storing ownership and licensing records, and performing similar tasks related to intellectual property.
In the context of the copyright system, blockchain can offer a method for individuals to determine the status of a particular record, such as whether a copyright has fallen into the public domain or become orphaned. This use of blockchain technology can enhance the management and administration of intellectual property rights.
The research paper identifies several key benefits of integrating blockchain technology into intellectual property management:
Traceability: The paper defines traceability as the ability to trace the entire lifecycle of a registration on the copyright ledger from its inception. Making this information available to the public through a blockchain explorer or similar method offers an additional layer of transparency not typically available in traditional server-based record systems.
Transparency: Blockchain technology's inherent transparency ensures that all participants in the network can independently verify the accuracy of recorded data and transactions, enhancing trust and reducing the need for intermediaries.
Disintermediation: Blockchain operates independently of a centralized governing body, eliminating the need for a trusted intermediary, such as a government, bank, or clearinghouse. This decentralized nature enables global cooperation even in the absence of government or intergovernmental support, offering the potential for artist- or business-led copyright systems that operate independently of traditional regulatory bodies.
The research paper suggests that these benefits could lead to the development of decentralized copyright systems, where intellectual property registration and management are facilitated independently of state oversight. Blockchain technology's role in copyright administration has the potential to bring increased efficiency, transparency, and accessibility to the world of intellectual property management and may empower creators and copyright holders in new and innovative ways.
(TRISTAN GREENE, COINTELEGRAPH, 2023)