Date: 2014-09-09
I recently became interested in startups that are building a layer on top of the bitcoin ecosystem as a means to record digital rights. For example, an artist would create digital artwork and, by encoding in a message on the blockchain, assign her rights to the work to another party.
The blockchain appears to be the ideal ledger for this purpose. It is widely distributed and publicly available. More importably [sic], the record made on the ledger is, like the transfer of bitcoins, irreversible. It is worth asking how this method of recording digital rights would be treated at law.
For the purposes of our discussion, we will review English law. The Copyright, Designs and Patents Act 1988 (from here onwards, CPDA 1988) covers much of this area. A lot of standardisation has occurred under the aegis of the World Intellectual Property Organization (an arm of the UN), the World Trade Organization, as well as under EU Directives and Regulations. As such, a similar treatment is expected in most ju