Chinese iQIYI, a Netflix-like streaming platform, intends to implement the Ethereum (ETH) ERC-3475 smart contract standard to address copyright issues. This news was announced by DeBond, who is the developer of the ERC-3475 standard.
iQIYI is China’s largest online video platform with over 100 million subscribers. The company said it will use smart contracts to “resolve copyright-related issues such as disputes, secondary creations, and copyright investment in authors’ works.”
According to the announcement, a dedicated product team has been formed in iQIYI to create a copyright accounting chain, and the internal beta version of the system is currently running. Public testing of the new smart contract system is expected to take place in the first quarter of 2023.
Image: China Film Insider