Sony moves on blockchain tech

Sony Corp has adopted blockchain technology for global business covering entertainment and education in applications such as authenticating, sharing and rights management of educational data, the company said Tuesday.

Blockchain creates networks where programs and information are difficult to destroy or falsify, and are well-adapted for the free transfer of data and rights, said Sony.

Blockchain technology uses tamper-proof data for virtual transactions. The technology, used mainly in Bitcoin, is now adopted in a wider range of industries including media, entertainment, finance and retail.

In 2018, blockchain spending in the Asia Pacific region, excluding Japan, is forecast to hit US$281.69 million, almost double a year ago. China leads the market growth in the region, said global tech researcher IDC.

This technology is well-suited to the open transfer of rights and assets and is expected to bring “more innovative services in the future,” said Sony.

Other tech giants like Alibaba and IBM have also developed blockchain technology.

With the new technology, Sony has a system for managing rights-related information of written works, with features for demonstrating the time when electronic data was created, leveraging the properties of blockchain to record verifiable information in a way which is difficult to falsify and identify previously recorded works. It also allows participants to share and verify when a piece of electronic data was created and by whom.