Sony to Use Blockchain for Digital Rights Data

Japanese technology giant Sony is looking at using blockchain to store digital rights data
27 April 2018   692

Sony, a Japanese tech giant, intends to use blockchain to store Digital Rights Data. According to the application published by the U.S. Patent and Trademark Office on Thursday Sony tries to explain that current digital rights management (DRM) solutions that aim for interoperability "may not be very reliable and rely on one unique point of failure. If the rights locker provider or system goes out of business or otherwise fails, the user loses all the acquired content."

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The application describes that a blockchain can store the required information of identification that ensures consumers can view the products they purchase.

DRM systems are the technologies that limit the access to materials which are copyrighted to the users who purchased the access. Sony quotes UltraViolet, a cloud-based locker for digital rights, as one good example.

The application was jointly filed by Sony and its subsidiary Sony Pictures Entertainment with the document specifically citing movies as an example of one kind of media, the said system that could be utilized for Digital Rights Data.

The blockchain based system can manage rights to "various types of content or other data, such as movies, television, video, music, audio, games, scientific data, medical data, etc." Sony states.

Sony has already been exploring various other applications of the blockchain technology such as, for authenticating user data and managing education data.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   174

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.