COPYTRACK to Build a Blockchain Powered Global Copyright Register for Digital Content
COPYTRACK has launched its own ICO in a bid to develop a blockchain-powered decentralized register to fight against copyright infringement.
COPYTRACK has already set a foothold in the market of copyright enforcement worldwide, so it´s one of the few ICOs of a company with a proven track record.
Where the internet has facilitated communication and content distribution at a global scale, it has also raised new issues, particularly when it comes to copyright infringement and protection of digital content ownership.
Given that this is the age of visual content, more than 2 billion images are distributed on the internet every day, but only about 20% of those benefit their creators, since digital content owners have no feasible way to track the licensed distribution of their content. Similarly, digital content users too are largely unaware of any licensing requirements, and find it nearly impossible to locate the original source for any media.
COPYTRACK aims to utilize blockchain technology to solve this issue by building a decentralized global register of digital content. This global register will not only allow content creators to prove ownership, but will also let users track the source of any digital content and purchase an appropriate license.
However, since an immutable register is only part of the solution, COPYTRACK is also going to provide a comprehensive global licensing service with processes for legal enforcement in over 140 countries – making it a completely automated copyrights protection program.
With legal entities in Berlin and Singapore and presences in New York and Tokyo, COPYTRACK has already managed to gain considerable traction and is currently generating a claims volume of over €1.5 million per month. For now, the project is focused on copyright protection, but future plans include a marketplace for digital content trading.
CPY will be the native token for the COPYTRACK platform and will facilitate all payments, alongside utilizing smart contracts for automation.
If you’re interested in the project, the COPYTRACK ICO is currently going on (ends on February 9, 2018), and you can participate with a minimum investment of 0.1 ETH. The price of CPY tokens is 740/ETH and the hard cap is set at 60 million tokens.