- Established the first blockchain-based copyright system in Korea / Introduced Amazon Managed Blockchain
- Developed a blockchain-based solution that transparently and fairly manages copyrighted broadcast contents
[CJ OliveNetworks, September 19, 2019] The IT Division of CJ OliveNetworks (CEO Kyung-Bae Lee) announced that it has established the first blockchain digital copyright system in Korea, using Amazon Web Service (AWS)’s Amazon Managed Blockchain.
The blockchain digital copyright system is a solution to offer transparency and fairness in managing broadcast contents. The system can keep a record of copyrighted music in broadcasting and share the ledger with stakeholders, such as broadcasting companies, copyright associations, and copyright holders to reach an equitable payment to use copyrighted materials.
Amazon Managed Blockchain is a fully managed service of AWS. CJ OliveNetworks has selected this service in consideration of the convenient member management and expandability of the system performance.
CJ OliveNetworks has developed a cloud-based blockchain copyright management system to improve the existing royalty payment system without clear criteria. The company is now raising the accuracy of tracking copyrighted songs before commercialization.
“It is very important to have a system that promises equity and transparency among copyright stakeholders. We anticipate that the new blockchain-based copyright system will greatly contribute to improving the copyright management process,” said Eungdo Kim, Director of the DT Convergence Research Institute at CJ OliveNetworks.
“Amazon Managed Blockchain is the service that helps customers build and manage easily expandable blockchain networks. We’re very pleased that CJ OliveNetworks will be able to implement the AWS cloud-based blockchain digital copyright system,” said Inchul Hwang, Head of Emerging Enterprise at AWS.