2 years ago
A South Korean euphony sharing platform, Koong World, precocious announced the registration of a non-fungible token (NFT)-based euphony theft prevention patent. Using this patent, the euphony sharing level aims to “solve the occupation of copyright extortion successful the rapidly increasing euphony market.”
Tackling the Problem of Copyright Infringement successful the Music Industry
A South Korean peer-to-peer euphony sharing platform, Koong World, precocious registered an anti-music theft patent with the Korean Intellectual Property Office, a study has said. Kung World says the patent volition alteration it to lick the situation of copyright infringement successful the euphony industry.
The registration of the patent comes little than a twelvemonth aft the motorboat of the music-sharing level itself. Since its motorboat successful 2021, the level present boasts implicit 2 cardinal members and implicit 40,000 registered songs.
According to a report by Forkast, Koong World was awarded a patent registration by the Korean Intellectual Property Office connected April 14, 2021. Another study by FN News said the patent is for “a method of providing services performed connected a server of a euphony level utilizing blockchain-based NFT.”
Development of an Open Ecosystem
In his comments pursuing the registration of the patent, Kim Han-jo, the president of Koong World, explained however the patent helps artists support their intelligence property. The president said:
Based connected this patent, we are providing an accidental to lick the occupation of copyright extortion successful the rapidly increasing euphony market, and astatine the aforesaid clip use integer certificates to each products successful e-commerce, which has go a occupation successful online merchandise transactions. We program to merchandise a exertion to resoluteness the counterfeit contention soon.
The president besides hinted that the occurrence of the patent hinges connected the improvement of an unfastened ecosystem that “utilizes each online products including euphony and fiscal services, and person just compensation.”
The study said Koong World’s NFT patent, which has been described arsenic the archetypal of its kind, is expected to assistance “guarantee” profits that accrue to euphony creators.
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Terence Zimwara
Terence Zimwara is simply a Zimbabwe award-winning journalist, writer and writer. He has written extensively astir the economical troubles of immoderate African countries arsenic good arsenic however integer currencies tin supply Africans with an flight route.
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