Blockchain is already widely used in applications where copyright is involved. Blockchain has been embraced by the copyright industry because it enables artists and publishers to define and manage who can use their work and how. Efforts are being invested in leveraging blockchain technology to resolve challenges associated with copyright attribution to provide acknowledgment of copyright of a digital work of art to its holder or author. Blockchain technology aims at utilizing decentralized, cryptographically secure database technology, to document the recordation, reproduction, distribution, and trade of digital works of art. One of the fundamental forms of copyright attribution is the crediting of the copyright holder’s or author’s identity, to provide authenticity and ownership of an original work of art. Notable examples of such applications include: Creativechain, Ujo Music, Binded, Copytrack, Choon, SingularDTV, Udiar, and TAO network.
Besides application in copyright, blockchain is making its way into the legal field with applications such as document notarization, Pretty much every contract or parts of it could be simplified or streamlined with smart contracts, and the legal industry is predicted to change in the near future with addition of programmable contracts provided as a service to customers of legal firms. The legal firms themselves can become more efficient with blockchain adaptation and creating more flexible agreements with clients that regulate lawyer-client relationship and pricing.