ilibrium, a Beverly Hills provider of cloud-based entertainment delivery systems, announced yesterday that it is developing a blockchain-based distributed platform for managing encrypted intellectual properties (IP) over the Internet.
The company reports that its LC3 technology will permit producers and distributors of content a means of protecting their work against digital piracy.
The technology ostensibly protects customers’ IP by using a blockchain to ensure that every legitimate purchase creates a file. These files, called Cryptocontent, cannot be duplicated or copied without authorization but that can be legitimately traded and transacted in perpetuity.
Consumers, in turn, gain control of the content they purchase, and are able to transfer their content between devices or to someone else, while at the same protecting the IP rights of copyright owners.
ilibrium CEO Graylan King commented:
Every producer of entertainment, whether it be movies, music, video games or any of the other mediums that are distributed digitally has been praying for a silver bullet that will finally put a stop to the wholesale robbery of their work. Our LC3 technology is designed to make every file as unique as a dollar bill – the days of mass counterfeiting are over.
Using blockchain technology for authentication and security, LC3 units will apparently be cryptographic assets that will be backed by the content.
Units of LC3 (e.g. songs, albums, movies, digital art) are stashed in the software client – and once authorized, will provide throughput to third-party media players. This will allow for both playback of the encrypted media, and the development of an entire ecosystem around the creation, sale, authorization and final access of LC3.
Music, movies, and all forms of creative expression produced for public consumption have value. At ilibrium we recognize the need to help artists and their representatives protect the inherent worth of their creative content. We are providing the means to ensure security of digital transactions whenever and wherever artistic currency is bought and sold.
Although the company has not revealed which blockchain it is using or whether it is developing a proprietary blockchain, the company reports that its blockchain-enabling IP protection platform has been in beta development since 2013 and is scheduled to deploy globally in 2016.
Berlin-based and venture-backed startup Ascribe is developing a similar platform utilizing blockchain technology to track IP and build an “ownership layer” on the Internet.
San Diego-based Blocktech is also using blockchain tech for digital rights protection by developing a library, called Alexandria, which will theoretically archive and protect any type of digital media.