Canadian Government Backs Blockchain Royalty Tracker
A blockchain trial that will be focused on tracking audio/visual copyrighted materials is underway with Canadian government backing.
Groupe Media TFO, is attempting to develop a prototype to track copyrights and compensate creators using a blockchain. The project, Blockchain TFO, is the first Canada-focused effort to track royalty payments between different parties, including broadcasters, producers and intellectual property holders.
The Canadian Media Fund, a public-private initiative of the federal government and the private cable broadcasting industry, is providing financial support for the development.
“As a public, education-focused company, we want to do our part to protect Canadian cultural works, including our own, as we expand their accessibility and visibility,” Glenn O’Farrell, president and CEO of the media group, said in a statement.
Groupe Media is now seeking content producers and distributors for participation in the development of the blockchain project. No date has been set for deployment.
In the past, content producing companies have been reluctant to participate in new technology that would reveal sales specifics.
