Seoul
4 January 2018
Reporter: Barney Dixon

Glosfer and Gemmy to create blockchain copyright protection platform


Blockchain firm Glosfer has signed a memorandum of understanding with copyright protection company Gemmy to create a blockchain-based copyright protection platform.

Glosfer said it would use blockchain technology to create a peer-to-peer service that streamlines distribution and protects copyright in the music industry.

Gisang Nam, vice representative of Gemmy, commented: “Many musicians and producers are facing problems due to the high entry barrier to the entertainment industry.”

Nam added: “We want to contribute to improving the environment for musicians and producers by creating a content-platform based on technology. Blockchain technology is the most appropriate solution in protecting copyright and streamlining the distribution process by connecting users to producers.”

Glosfer CEO Taewon Kim said: “We are excited to work with Gemmy as we can apply blockchain technology into actual businesses and industries.”

“Correcting the imbalance in the music distribution market, which is a big social issue today, will provide us with a good opportunity to demonstrate blockchain technology to the public.”

He explained: “We can also incorporate HYCON, our own cryptocurrency, into the music platform to create a payment system where anyone can purchase music easily. This way, we can expand the music platform project overseas and take a step further to lead the global music industry.”

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Blockchain firm Glosfer has signed a memorandum of understanding with copyright protection company Gemmy to create a blockchain-based copyright protection platform