Gyeonggi-do, the most populous province in Korea, is developing a video content rights management service on KT’s blockchain platform GIGA Chain BaaS. KT, one of Korea’s leading telecom companies, formed a consortium with Gyeonggi-do.
Due to the Covid-19 pandemic, many artists had to turn to Youtube and other video platforms to promote their content and generate some revenue. The issue with mainstream video platforms, especially for smaller artists, is that there is little protection on the videos’ ownership rights; therefore, content can be easily copied and associated profits are often not distributed.
Gyeonggi already operates an online concert service. It helped promote over 750 online performances on Youtube and is planning to promote an additional 500 videos. Nevertheless, the lack of content ownership protection and unreliable income is still a concern for artists.
KT and Gyeonggi’s consortium will address this by conducting state-funded demonstrations on blockchain. This enables content to be traced back to its developer, protecting the owner’s claim of rights to the performance. It was selected as the “2021 Blockchain Leading Demonstration Project” by Korea’s Ministry of Science
Additionally, the new solution will turn registered performances into non-fungible tokens (NFTs) and distribute any related profits from the video to the artist. This will yield artists a new source of revenue and ensure that they can profit from the ownership of their content.
Gyeonggi is not new to blockchain applications, particularly when it comes to Covid-19 relief initiatives. The South Korean government paid 100,000 won ($83) as Covid-19 relief to every person. Gyeonggi and some other provinces used their local digital currencies to allocate the money. KT was one of the issuers of digital currencies. Gyeonggi used the Gyeonggi Money application, which enables citizens to purchase and store the local currency at a discount but restricts payments using the money to local shops.
Meanwhile, KT developed a driving license authentication app on blockchain with SK Telecom, LG, and Samsung. The telecom giant is also active on blockchain food traceability. It has a partnership with Nongshim Data Systems, the IT affiliate of food manufacturer Nongshim, and a halal food traceability initiative.