Idea #8 - Blockchain Has Solved The Age Old Problem Of Digital Piracy

Not sure if anyone noticed.. but bitcoin and the blockchain has solved the age old problem of digital piracy.

See back in the good old days, you couldn't really stop people from making a copy of a DVD or VHS tape, a video game or a piece of software.

Some technology does exist such such as dongles (pieces of hardware that need to be inside your computer for the software to work) although this was always easy to bypass.

There is also DRM technology, which puts data inside the file data and makes it only usable to certain users. Again this technology can be hacked and the video data copied.

Stopping digital piracy it seems, was impossible.

Bitcoin with it's blockchain technology has solved this problem, and let me explain why.

Your bitcoin is a piece of data.

No one can spend or use your bitcoin data except for you. There is only one copy of that bitcoin data in existence, and it can be traded to other users but not sent twice.

This means the bitcoin data is unpiratable. You can't make a copy of this bitcoin data and use it in any meaningful way more than once.

And what this means, is a piece of digital data can only exist once on the blockchain. It can't be copied.

If this data can't be copied, then it can be used as a means of stopping digital piracy.

A file or piece of data can be held by one user and one user alone.

Basically if you can't copy bitcoin which is a piece of digital data, any type of digital data could be protected using the blockchain.

With this in mind, it would be possible to create a system to protect, catalog and monetize every piece of digital data on the planet.