Recently, the Research Report on digital collections based on blockchain (hereinafter referred to as the “Research Report”) prepared under the auspices of the trusted blockchain promotion plan was officially released. As one of the authors, Hundsun Technologies Inc(600570) has cooperated with China Academy of information and communications, ant blockchain, Tencent cloud, JD technology, fun chain technology and other institutions to prepare this report.
Zhu Liangliang, head of blockchain development department, told reporters that as an innovative business, blockchain digital collections are still in the early exploration stage and need the joint efforts of competent regulatory authorities and operators to escort the sound development of the industry. Since the start of blockchain research in 2015, Hundsun Technologies Inc(600570) has continued to explore blockchain technology and applications, independently developed the underlying blockchain platform HSL, and made many breakthroughs in core technology links such as smart contract, privacy protection, cross chain, consensus algorithm and baas. As the core blockchain technology company in China, Hundsun Technologies Inc(600570) will also actively explore the integrated application of blockchain in the field of digital collections, accelerate the upgrading of cultural and creative industries and promote the healthy development of digital cultural and creative industries.
With the rapid development of digital technology, the digital right confirmation technology represented by blockchain began to rise in the cultural and creative industry, providing innovative solutions for the right confirmation and circulation of digital cultural and creative works, and better protecting the copyright of creative works in the chain.
Since 2021, the popularity of non homogeneity Certificate (NFT) has soared outside China. It is a new type of digital work ownership certificate using blockchain technology. By storing the ownership of cultural and creative works on the decentralized blockchain network, it can effectively solve the pain points of digital cultural and creative works in terms of copyright confirmation, copyright traceability and rights protection and evidence collection.
However, there are also many risks in the development of NFT. For example, because NFT relies on public chain distribution, it is difficult to control node behavior, and there may be content prohibited from dissemination in digital collections; Public chain transaction is easy to breed problems such as money laundering and fraud; NFT has strong digital asset attribute, obvious financialization trend and high market speculation enthusiasm. In addition, the public chain has many uncontrollable factors at the regulatory level, which needs to be standardized and developed.
In order to avoid relevant risks, China’s blockchain research institutions peel off their digital asset attributes by learning from foreign NFT technologies and business models, adhere to the principle of localization and compliance, explore and realize the digital collections issued on the alliance chain based on blockchain, and ensure to give full play to the value of blockchain Technology in digital copyright protection within the framework of regulatory compliance.
The research report clearly defines the concept and characteristics of blockchain Digital Collections: blockchain based digital collections are digital works, works of art and commodities that use blockchain technology to confirm the ownership of rights and interests through unique identification. They can mark their owners in the blockchain network and trace the subsequent circulation, including but not limited to digital pictures, music Video, electronic tickets, digital souvenirs and other forms have the technical characteristics of uniqueness, indivisibility, tamperability, verifiability, scarcity and so on.
Both NFT and blockchain based digital collections use blockchain technology to solve the problem of ownership confirmation of digital works. Technically, there is no essential difference. However, from a business perspective, the digital collections in the public chain pay more attention to the social attribute, hype attribute and speculation attribute of the community, while the digital collections in the alliance chain are generally endorsed by more powerful issuers, which have better collection and practical value attributes. In addition, the issuance of digital collections on the alliance chain can really remove the attribute of money and lower the financial attribute of digital collections.
According to the analysis of the research report, the application scenarios of digital collections based on blockchain can be divided into two categories. One is the application scenarios of typical blockchain digital collections, including blockchain art collections, blockchain digital music collections, blockchain digital game collections and so on; The second category is the application scenario of derived blockchain digital collections, which is derived from the mode of using digital collections in new fields, such as digital insurance policy, digital education, digital scientific research, meta universe and so on. On the other hand, the research report also gives early warning of its potential risks, including technical risks, price speculation, financial security, regulatory compliance, etc.
