Part 2: IP-Rights
The question of intellectual property and the evaluation of creative work in the group process is a core problem of project based contract work especially in the creative industries. The reason for this lies in the difficulties to separate the individual contributions within the creative process. Documentation, if any, would represent an additional effort. On the one hand, in the process of recording and on the other hand in the process of subsequent evaluation as well. As a result the creative workflow would thereby be impaired since there is no automated method for documentation and therefore human resources are tied up.
Blockchain technology offers the possibility of securing and transferring intellectual property, such as music songs, in the form of a decentralized applications or smart contracts. The use of the blockchain makes it possible to automatically record the actions and activities of the individual contributors and to retrieve the respective information at a later point in time, in a comprehensible way. In addition, the properties and events can no longer be changed afterwards, as the information is stored securely. Furthermore, the records are stored in a decentralized way, so that the power does not lie with a single actor but is carried by the entire network. This not only secures intellectual property, but also increases trust between the participants.
Therefore, blockchain technology can reduce the administrative costs associated with the protection and licensing of intellectual property, through the use of a digital time stamping of documents. Intellectual property owners can decide for themselves at what price and to whom they offer their intellectual property on the open market. Blockchain thus offers the possibility of efficient and secure protection of intellectual property. Nevertheless, blockchain technology does not offer an efficient solution for securing all intellectual property rights. As I realised through previous research, the boundaries of the creative contribution are often fluid, so that the respective shares in a project can often not be clearly defined. Finally, a distinction must be made from case to case as to whether the use of blockchain technology makes sense in this case. However, there are almost no limits to the use cases for the protection of property rights by blockchain.