Taiwan-based start-up Bitmark Inc., which raised $1.7 million in seed funding last week, has announced the release of a new white paper titled ‘Defining Property in the Digital Environment’. The company utilises blockchain technology to establish and assert property rights to digital assets, including original photography, music, video, digital art, online papers and data and has published the paper to introduce its blockchain-based system and explain the need for it.
Bitmark’s white paper on digital property describes its property system which is intended to provide all internet-based creators and social platform users with the technology to claim ownership over their digital assets and data. Starting from a historical perspective on property rights, the white paper articulates the need for new digital property rights to encourage growth and development, much as normal property rights heralded growth in countries that introduced them. As the internet has grown to over 12-trillion gigabytes of digital data and is doubling in size every two years, the people and digital assets that could benefit from this is growing at an exponential rate.