Can the blockchain fix digital copyright and will regulation be required?
Lead Research Organisation:
University of East Anglia
Department Name: Law
Abstract
Since the inception of the internet, artists have struggled to protect their online endeavours and the proliferation of digital media has created a steep decline in the value attributed to such works (Jackson 2018). Layers of intermediaries in the creative industries ensure a reduction in the final payment to the artist (Tapscott & Tapscott 2017) and whilst the internet has liberated information it has done little to transform many of the pre-existing centralised organisations i.e. governments and large corporations (Wright & De Filippi 2015).
The blockchain provides an immutable record of truth and, as trust is crucial to the digital economy, a platform for secure and reliable mass collaboration, which holds many possibilities for a new kind of organisation and society (Tapscott & Tapscott 2016 p33). In particular, it has the power to revolutionise digital copyright: by increasing the licensing efficiency and autonomy of creators and reducing the need for intermediaries it has the potential to disrupt current business models and enable content creators to protect, control and profit more from their creative works (Bodo 2018).
Blockchain's underlying Distributed Ledger Technology (DLT) enables the development of new governance systems and decentralised autonomous organisations (DAOs) together with smart contracts (Wright & De Filippi 2015 1), creating a more flexible and fairer interactive space where users can act as collective middlemen administering their own affairs through a shared decentralised database and automised software (Wright & De Filippi 2015 19).
DLT enables anything of value e.g. music or art, to be moved and stored securely and privately, where trust is not established by powerful intermediaries such as streaming services but through mass collaboration and code (Tapscott & Tapscott 2017). Smart contracts are digital, computable contracts where the performance and enforcement of contractual conditions occurs automatically, without the need for human intervention (Nick Szabo 2006). Drafted using source code they can be standardised and executed at nearly no cost, thereby democratising and dramatically speeding up the execution of a contract (Wright & De Filippi 2015 24).
Using a socio-legal approach, this research will analyse the impact of DLT on digital copyright and highlight legal challenges that may arise. Qualitative empirical research will consider current copyright issues from the point of view of individuals involved in blockchain technology in the creative industries, and explore how the current regulations are perceived and practised within the field. The research will consider whether current laws are capable of adapting to the changing technological landscape or whether new regulation or a totally new way of thinking is required in order to support blockchain developments, foster innovation, ensure fair remuneration and promote a level playing field in the digital creative environment
The blockchain provides an immutable record of truth and, as trust is crucial to the digital economy, a platform for secure and reliable mass collaboration, which holds many possibilities for a new kind of organisation and society (Tapscott & Tapscott 2016 p33). In particular, it has the power to revolutionise digital copyright: by increasing the licensing efficiency and autonomy of creators and reducing the need for intermediaries it has the potential to disrupt current business models and enable content creators to protect, control and profit more from their creative works (Bodo 2018).
Blockchain's underlying Distributed Ledger Technology (DLT) enables the development of new governance systems and decentralised autonomous organisations (DAOs) together with smart contracts (Wright & De Filippi 2015 1), creating a more flexible and fairer interactive space where users can act as collective middlemen administering their own affairs through a shared decentralised database and automised software (Wright & De Filippi 2015 19).
DLT enables anything of value e.g. music or art, to be moved and stored securely and privately, where trust is not established by powerful intermediaries such as streaming services but through mass collaboration and code (Tapscott & Tapscott 2017). Smart contracts are digital, computable contracts where the performance and enforcement of contractual conditions occurs automatically, without the need for human intervention (Nick Szabo 2006). Drafted using source code they can be standardised and executed at nearly no cost, thereby democratising and dramatically speeding up the execution of a contract (Wright & De Filippi 2015 24).
Using a socio-legal approach, this research will analyse the impact of DLT on digital copyright and highlight legal challenges that may arise. Qualitative empirical research will consider current copyright issues from the point of view of individuals involved in blockchain technology in the creative industries, and explore how the current regulations are perceived and practised within the field. The research will consider whether current laws are capable of adapting to the changing technological landscape or whether new regulation or a totally new way of thinking is required in order to support blockchain developments, foster innovation, ensure fair remuneration and promote a level playing field in the digital creative environment
