heal.abstract |
In the digital age, artists, musicians, writers, developers and all kinds of creators of digital intellectual work, face a pervasive and continuous challenge – the equitable distribution of royalties. This diploma thesis, delves into the issues surrounding the distribution of royalties, highlighting the lack of transparency, accountability and efficiency that prevails today. It also presents a novel solution, leveraging blockchain technology and a smart contract framework.
Traditional royalty distribution models are plagued by opacity and inefficiency. Creators often find themselves at the mercy of intermediaries, who extract hefty commissions and introduce delays. By the nature of the problem, it’s easy to deduce that blockchain, with its inherent qualities of transparency, immutability, and decentralization, offers a compelling remedy. In particular, we introduce a smart contract that transparently and automatically allocates royalties to creators based on predefined criteria publicly available to all concerned parties.
So, the goal of this diploma thesis is the development of a smart contract for royalty and payment distribution, which gives an answer to the critical issues digital creators face today. After a detailed examination of the architecture and the functionalities of the smart contract, its benefits become clear and it becomes evident that it aims to reshape the landscape of intellectual property management. Real-world use cases and future work to expand the system are also discussed, illustrating the transformative potential of blockchain in the creative industry.
The system presented in this paper can be used by any person, team or organization that wishes to make available to the public any kind of digital work, from which income will be produced in the form of royalties, sales or donations. |
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