Lưu trữ cho từ khóa: distributed ledger

NFT

IOTA launches blockchain tool to simplify music rights management

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IOTA has introduced a new blockchain-based tool aimed at simplifying music rights management in the film industry.

IOTA (IOTA), a distributed ledger focused on the exchange of value and data, has unveiled a blockchain-driven tool designed to transform the management of music rights in films, addressing what the project describes as a traditionally time-consuming process.

The new solution, developed under the European Blockchain Pre-Commercial Procurement initiative and funded by the European Commission, leverages distributed ledger technology to streamline negotiations and secure intellectual property rights more efficiently, according to an Aug. 12 blog announcement.

The core of IOTA’s latest solution is the Smart Contracts for Media system, which automates contracts between film producers and rights holders. These smart contracts are self-executing digital agreements, intended to reduce the time traditionally required for negotiations and payment processes.

IOTA brings NFTs to revolutionize IP rights management

IOTA claims its solution promises to “revolutionize the way intellectual property rights are handled,” enabling producers to select predefined contract templates, make real-time adjustments, and finalize terms digitally. Once agreed upon, the smart contracts are deployed on the IOTA Smart Contract Chain, ensuring the agreements are immutable.

The tool also incorporates non-fungible tokens to represent rights and obligations. These NFTs contain unique identifiers that link to detailed data stored off-chain using the InterPlanetary File System (IPFS), a decentralized storage solution.

The initiative seeks to address long-standing challenges in intellectual property rights protection, an area where blockchain has yet to offer a standardized solution. Other firms, such as U.S.-based Dapper Labs — known for the CryptoKitties video game — have also introduced NFT licenses to broaden the use cases for digital arts, outlining what owners can legally do with their assets.

However, IOTA claims its system improves the traceability and security of rights management, facilitating easier verification of ownership and contractual terms for all parties involved.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Công nghệ

Kyrgyzstan set to launch its own digital currency by 2027

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Kyrgyzstan’s central bank has proposed amendments to the law to legalize its digital currency as a legal tender.

The National Bank of Kyrgyzstan has initiated public discussions on constitutional law amendments aimed at integrating its own digital currency — known as digital som — into the nation’s financial system, marking a big step toward a digitized economy.

Under the proposed amendments published on Aug. 8, the digital som will be integrated into the financial system through a “specialized software system” managed by the central bank. The draft does not contain terms like “blockchain” or “distributed ledger,” though it does mention “smart contracts,” leaving the technical details of the platform somewhat unclear.

The system’s design includes the introduction of “digital accounts” and “digital wallets.” While digital accounts will be specialized accounts managed by the platform operator for participants, digital wallets will be available to individual users for transactions. These wallets can be accessed via applications provided by banks and other financial institutions participating in the platform.

Central bank controls encryption keys

The digital som platform itself will enable transactions and interaction among its operator, participants, and users. The platform’s rules, which will be issued by the National Bank, will define the roles and responsibilities of each participant, access conditions, and the types of transactions permitted.

In terms of governance, the central bank, as the platform operator, will oversee the issuance and accounting of digital soms as well as ensuring the platform’s operation and security measures, including data encryption and authentication mechanisms, the draft reads.

The system is said to be supporting both online and offline transactions, with offline payments allowing users to conduct transfers even in the absence of an internet connection, with transactions recorded on the device and later synchronized with the platform.

The digital currency is expected to be fully integrated into the country’s financial ecosystem by January 2027, providing a legal framework that aligns with the rapid evolution of digital currencies on the international level.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News