Blockchain Weekly Recap 8-20-2016
Australia-Based Veredictum Harnessing Blockchain to Combat Film Industry Piracy
Piracy has been a problem for the film and television industry for some time now, and every industry solution has thus far met with limited success. One Australian startup hopes to change all that by harnessing blockchain technology to protect everything from film and television scripts to actual video content. Sydney-based blockchain startup Veredictum has now released a blockchain platform designed to protect manuscripts so that their creators don’t lose their ideas and work to thieves. The new platform is called Veredictum Scripts, and provides a permanent record detailing the registration of any script.
In addition to script distribution and protection, the firm is also reportedly working on content protection that would provide safeguards to prevent video content from being pirated by clever thieves. The goal is to provide protection against so-called “freebooting” – in which users download videos, remove producer content, and then post the work on social media sites under their own name. It’s one of the latest trends in copyright theft, and can easily redirect advertiser revenue from the original creator to the pirate. The company hopes to thwart these illicit activities using blockchain-registered video watermarks that would act as permanent “fingerprints” confirming the identity of the original content creators, providing important evidence for any potential legal action to enforce copyrights.
DHS Awards $1.3 Million for Cyber Security Research
In a press release last weekend, the U.S. Department of Homeland Security (DHS) Science and Technology Directorate (S&T) announced that it has awarded $1.3 million in funding to 13 tech companies who had submitted proposals to the Directorate’s Small Business Innovation Research program (SBIR). Each of the thirteen fund recipients will receive roughly $100,000 of capital to develop solutions based on their winning proposals. Four of the chosen projects involve the use of blockchain technology to provide solutions for problems related to things like privacy and identity management.
The four companies researching blockchain solutions include Digital Bazaar, Respect Network Corporation, Narf Industries, and Celerity Government Solutions. This new effort to leverage blockchain and other FinTech solutions for homeland security needs comes at a time when the U.S. Department of Defense’s DARPA and NATO have also expressed increased interest in the potential military application of blockchain technology.
Airbus Joins Hyperledger Project
Airbus, the French aircraft manufacturing company, has reportedly signed onto the Linux Foundation-led Hyperledger projects. The company has apparently already been actively exploring the technology through its Emerging Technologies and Concepts group, and has two of its employees actively participating in a Hyperledger subcommittee. The news is another indication of the airline industry’s growing interest in distributed ledger technology.
New Greenwich Associates Report Highlights Finance Industry Concerns over Blockchain Security
Greenwich Associates has released a new report called Securing the Blockchain that details the finance industry’s current concerns about the security of blockchain technology. The report is based on research studies involving 134 industry participants who are currently engaged in work with the distributed ledger technology, and looks at how banks, asset managers, and others are adapting to the blockchain. The study indicates that basic financial industry issues like confidentiality and security remain a concern. As the report’s author notes, the recent hack of the Bitfinex exchange served as a reminder that the security of things like private keys continues to be questionable. The paper also calls into question the viability of using the existing proof-of-work consensus for industries like the financial sector which requires rapid verification for a high volume of transactions.