From the very beginning of its existence, blockchain technology has been seen disrupting the world of finance. Blockchain technology saw its invention when an anonymous digital currency system – decentralized and egalitarian – came into existence by the name of Bitcoin. Bitcoin uses blockchain technology as the basis within which it is able to operate so it makes sense that blockchain technology was initially very closely linked to Bitcoin itself and little else beyond that.
Blockchain technology, however, has been exhibiting potential in a lot of other areas in the world. Many innovative individuals and entrepreneurs have started to make use of blockchain technology in areas other than the financial realm.
Tang Ling and Blockchain
One of the earliest people who found blockchain technology to be something more than a medium for cryptocurrencies is Tang Ling. This blockchain enthusiast based in China is also someone that is considered to be an expert when it comes to matters concerning intellectual property. By combining the best of both of the two, Tang Ling is looking to resolve a lot of issues pertaining to the creative industry, mainly to do with the protection of intellectual property, by leveraging the power of blockchain technology. On that account, Tang Ling has founded Ink Labs Foundation.
Ink Labs Foundation
To resolve the problem of protection of intellectual property, Tang Ling is seeking to take his company, the Singapore based Ink Labs Foundation, and use the blockchain project to facilitate the creative industry’s dire need for protection of intellectual property.
He is of the opinion that blockchain technology can be used to aid artists and other people in the creative industry. The reason for that is that for the most part, people in the creative industry tend to overlook the initial copyrights registration and that can come back around to bite them.
Tang Ling is a significant figure in the matters concerning intellectual property and has studied law in China to tackle the issues of intellectual property. He feels that people in the creative industry just do not have the knowledge or funding to protect themselves.
That is where INK is going to step in for them. Through INK, all the producers of content in the creative field will see the facilitation of copyrights through the platform. Smart contracts using blockchain technology will allow for everything uploaded on to the platform to see legal registrations filed almost immediately. That smart contract can then be used by the people in the creative industry to get a fee for obtaining copyrights.
Fundraising Through INK
Lastly, another way that Tang Ling’s platform INK is aiming to help people in the creative industry is through providing them with capability to conduct fundraising activities.
If a singer is looking to raise funds in order to be able to record and release a single, the funds which are needed to make it a possibility and the legal support are going to be facilitated using the INK platform by Tang Ling. This is something which would otherwise be very difficult to realize.
The example of Tang Ling and INK is still barely scratching on the surface of all the potential that blockchain technology has as it is developed further. A blockchain fueled future holds much more benefits than it was initially given credit for.
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