A recent study authored by a professor at Texas A&M University School of Law delves into the potential applications of blockchain technology within the realm of copyright management. The research suggests that blockchain could bring about fundamental changes in how intellectual property is managed and protected, both domestically and internationally.
The paper's sole author, Peter Yu, who serves as the director of the Center for Law and Intellectual Property and holds the title of Regents Professor of Law and Communication at Texas A&M University School of Law, highlights blockchain's immutability as a key attribute that makes it an ideal candidate for integration into the intellectual property system.
In the context of blockchain technology, once a transaction is recorded, altering that record becomes exceedingly difficult. If an error is detected, the correction would necessitate the creation of a new transaction that is then hashed into the blockchain. This immutability feature, according to the paper, makes blockchain technology highly suitable for tasks like copyright registration, ownership storage, and licensing records management.
Yu further elaborates that in copyright systems, blockchain ledgers have the potential to enable users to ascertain the current status of a specific copyright. For instance, it could help determine if the copyright has transitioned into the public domain or has become orphaned, addressing vital issues related to intellectual property.
The study emphasizes several additional advantages of blockchain technology in the realm of copyright management. These include traceability, transparency, and disintermediation. Traceability involves the capacity to monitor the complete life cycle of a registration on a copyright ledger from its inception. Public accessibility to this data through a blockchain explorer or a similar method offers an enhanced level of transparency compared to traditional server-based record-keeping systems.
Lastly, the study addresses the concept of disintermediation, where blockchains can operate independently without relying on governing bodies or intermediaries such as governments, banks, or clearinghouses. This independence enables global collaboration even in the absence of government or intergovernmental agency support, ultimately leading to a copyright system that could be artist- or corporate-dominated, with intellectual property rights registered and mediated autonomously.
