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NEM Foundation in Argentina has signed a memorandum of understanding (MOU) with CISPREN, a local trade union of journalists, to develop a blockchain solution for copyright protection, Cointelegraph reported.
Founded in 1974, CISPREN is a trade union of journalists in the city of Cordoba, Argentina. It is seeking to tap blockchain technology in order to address some of the key challenges associated with the protection of intellectual property rights, such as content theft and failure to pay royalties, among others.
Under the MOU, the partnering organizations will also work on a proof-of-concept for the project.
By using the new system, authors would be able to upload their content to blockchain, thereby creating a “timestamp” which would serve as a proof of authenticity, CISPREN’s press-secretary German Guismondi explained. Each piece of content will be assigned a unique QR code as well as a digital signature, serving as additional safeguards in case of disputes.
Notably, NEM is also involved in another blockchain-based news publishing project – PUBLISH. Launched last year by TokenPost, PUBLISH is a NEM blockchain-based platform that fairly rewards all of its participants and serves as a realistic and economically viable model for publishers to adopt and build on. The project aims to significantly enhance the existing media structure to make it self-sustaining.
A number of other initiatives have also emerged in the past couple of months to bring blockchain benefits to the news and media industry.
In October 2018, Nasdaq was awarded a patent for using blockchain technology to secure and distribute information. In addition, big names in the news industry – Forbes and Associated Press – have also forayed into the blockchain universe with their collaboration with blockchain startup Civil.
More recently, Popula, a news site backed by blockchain startup Civil, stored a news article on the Ethereum blockchain.
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