Bitcoin Global News (BGN)
July 18, 2018 -- ADVFN Crypto NewsWire -- Baidu is a Global
tech company that has is competing with the biggest companies in
the industry. Their internet platform for various apps and services
has over 2 billion active users worldwide. Their autonomous driving
project “Apollo” is one of the world's most developed, with a
massive partner ecosystems of over 100 global partners as of 2018,
including BYD, Dongfeng, Microsoft, Intel, Nvidia, Daimler AG, ZTE,
Grab, Ford, Hyundai and Honda.
Baidu is also well know as the 2nd
largest search engine in the world, holding 76.05% market share in
China's search engine market. Baidu was the first Chinese company
to be included in the NASDAQ-100 index back in December
2007.
Blockchain Intellectual
Property Services
The company has recently launched a
blockchain-based photo validating and sharing service, and most
recently developed a proprietary token to incentivize users to
adopt their software that creates a traceable chain of tamper-proof
data of user’s intellectual property.
The photo sharing platform “Totem”
is already live and the token “Totem Point” will likely be used in
a peer fact checking, editing or identification concept. The
platform is the first application to be released on Baidu's private
XuperChain blockchain network. The token will likely integrate with
subsequent developments. The ability of cryptocurrencies to create
wholly unique identifiers for wallet addresses, public keys and
private keys is being used here to essentially tokenize the
originality of photos.
When users upload their original
images through the application, the blockchain's participating
nodes, which could be third party photo stock agents and copyright
protection organizations, will validate the originality of the
images. If approved, the nodes timestamp the critical information
and save it to XuperChain This produces verifiable data that can be
used in the event of a copyright dispute later on.
Expansion
Plans
Baidu said it will generate 4
billion Totem tokens with an annual inflation rate of 4.5 percent
to encourage individuals and institutions to submit original
photographs. The quantity of tokens awarded will depend on the
validation process, including the quantity and quality of images
submitted by a user.
The company plans to expand the
blockchain rights protection system to include other types of
digital media asset such as videos and audio by the first quarter
of 2019.
By: BGN Editorial Staff
News:
Baidu
Blockchain
Blockchain