CopyrightBank is a project proposed by the NEM community whose purpose is to register and verify the copyright of various categories of digital creations, being entirely powered by NEM with a solid business model aimed at consumers, companies and governments.
This will be a case study that can be used to further market the superior characteristics of NEM blockchain. The successful implementation and adoption of CopyrightBank will show how fast applications can be built in the NEM block chain. In the interface, this platform will accept XEM, the NEM Token – as well as fiat currency. In the backend, each transaction will use XEM. Therefore, this platform will not only contribute to a greater demand for XEM, but also increase transactions in the NEM block chain, thereby contributing to the value of the NEM community.
The success of this project will contribute to the ROI of each NEM supporter due to the greater visibility of the NEM block chain as a blockchain of intelligent assets.
By their very nature, the copyrights of digital works are the easiest to infringe. In general, obtaining legal protection for these jobs is often expensive and time-consuming. In most countries, copyright claims depend on proof of authorship and ownership. The majority of current blockchain-based copyright solutions offer basic time-stamping services, in addition to the focus of current offers on artistic works such as photographs, images and works of art. Therefore a robust solution is needed for all categories of digital creations.