One of the largest Korean Conglomerates CJ Uses Blockchain For Music Copyright

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CJ, among South Korea’s largest conglomerates, is creating a blockchain-based music copyright control program utilizing AWS’ Amazon Managed Blockchain Service, in accordance with local media.

Korean news agency Yonhap said in a report Thursday the initiative has been directed by CJ OliveNetworks, a subsidiary of this CJ Corp parent firm that manages the attractiveness technology and retail business of their conglomerate.

The electronic copyright system will continue to keep a record of the broadcasting of literary songs and save the info about the blockchain. The objective is to permit the users and owners of this content to discuss the consequent ledger and arrive in an equitable payment strategy to using their copyrighted intellectual property.

“it’s quite important to have a system which guarantees equity and transparency among copyright stakeholders,” Kim Eung-do, a manager of the DT Convergence Research Institute in CJ OliveNetworks, has been quoted as stating at a report from company outlet Hankyung. “The blockchain-based copyright management program will greatly contribute to enhancing the copyright management procedure.”

Its business lines include food and drink, logistics, beauty shops, IT, entertainment and also a theater chain.

CJ OliveNetworks works OliveYoung, among the nation’s K-beauty leaders, also has an IT branch that does everything from web of items to cloud computing to Big Data. However a decision was declared in April to divide both and move the IT branch to CJ Corp..

AWS became accessible at Korea at 2016. It began offering its own Managed Blockchain into the general public in May 2019 after the coming of the agency late at 2018. AT&T, Nestle and Accenture are one of the customers for the ceremony.

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