The cost of piracy in entertainment
BLOCKCHAIN of intellectual property rights through tokenisation is potentially the biggest prize out there waiting to be collected .
“ Currently , we hand over our articles , videos , comments and artworks to an array of social media channels that fail to recognise or protect the rights and work of both professionals and amateurs , and that also fail to pay them the full value of their work . Trillions of dollars of IPR value is inadequately protected and monetised ”.
But Christensen thinks that this is about to change , as blockchain technology delivers many components that can help create a better future for artists and entertainers .
“ The ability to register , without ambiguity , the ownership of their work on tokens via a blockchain secures immutability in terms of proving
The cost of piracy in entertainment
By the end of 2022 , it is anticipated that piracy will have cost all of the industries a total of US $ 51.6bn . This forecast is based on the rapidly increasing rate of illegal streaming and downloading ,
which has resulted in a loss of US $ 6.7bn for the industry .
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