A number of leading Japanese media companies have joined forces with blockchain technology specialists to create a blockchain-powered ecosystem for digital content distribution.
Named the Japan Content Blockchain Initiative (JCBI), the consortium was formed earlier this year with seven founders initially. Most notable among their numbers were Hakuhodo, one of the largest marketing agencies in the world, and The Asahi Shimbun Company, a publisher and owner of one of the country’s largest newspapers.
Per In a press release, another business giant has now joined the JCBI, in the form of heavyweight advertising Dentsu. A subsidiary of Dentsu has also signed up, as well as an intellectual property (IP) specialist Avex Technologies and blockchain advice SingulaNet.
The initiative currently has two main projects. The first is a video and TV show distribution platform that uses blockchain technology. And the second, the JCBI said, is a copyright protection service for various forms of digital content.
Both have already been rolled out, but the JCBI said its 11 members will now “develop and co-create new services” based on blockchain technology.
A similar initiative in China has already been claimed success, with video streaming sites, news websites and other media organizations publishing work through a blockchain network that operators say helps eliminate IP and copyright infringements.
The Chinese initiative was founded in 2019 and said in April that it had already successfully distributed millions of pieces of content, including TV shows and news stories.
This isn’t Dentsu’s first foray into the blockchain sector. Earlier this year, the company, in partnership with a collective of Japanese farmers, launched a major food traceability program that uses blockchain technology.
The company also made a major investment in a major blockchain company Bitfury back in 2018.
And in April of this year, Dentsu partnered with Kadowkawa ASCII Research Labs on a blockchain-powered platform project where manga readers are rewarded with tokens for completing actions such as creating reviews for titles they’ve read.