WCT's Rights Protection and Transaction Process Simplification in the Digital Music Copyright Trading Field
The digital music industry faces issues such as unclear copyright ownership, complicated transaction processes, and frequent infringement. A certain digital music copyright trading platform has introduced WCT technology. Music creators will record their copyright information, including creation time, author information, copyright statements, etc., on the blockchain for confirmation. When music works are authorized for trading, buyers use WCT to pay copyright fees, and transaction details, such as the scope of authorization, usage period, etc., are all recorded on the blockchain. For example, the copyright of a popular song is authorized to a film company for movie scoring, and the entire transaction process is completed on the blockchain through WCT, with information being open and transparent. After the platform applied WCT, copyright trading disputes were reduced by 95%, transaction efficiency increased by 75%, and music creators' income grew by 50%, effectively protecting the rights of music creators and promoting the healthy development of the digital music industry.