Regium Digital Royalties Blockchain dApp Launches For Data Owners and Developers
Regium Maximizes On Blockchain Features To Manage Royalties
Blockchain technology has really advanced expanding to technology’s new horizons. Currently, it is possible to develop decentralized applications (Dapps) without prior blockchain experience. In their press statement, Regium reiterated that the blockchain has great potential in the areas of data management. This technology will particularly assist in the data royalty transactions management.
Data is always a useful aspect in the modern world. Companies rely on data to design and manage their products as well as make important and strategic decisions. Considering this, there have been cases of data breaches where individuals and in some cases, companies try steal information for various reasons. For instance, The Mac Observer has recently reported that there has been a data breach at the United Nations a few days ago. This incident is just one among the many that calls for serious security measures to guard information.
Taking Total Control Of Vital Data
Blockchain promises to provide the world with the much-required security features. The Chief Executive Officer (CEO) of Regium Dominik Pantelides, says that blockchain will change completely the manner in which data is handled. He particularly wants owners of data to have total control of their data.
The CEO says that his firm will provide the data owners with tools to develop their blockchain-based Dapps that will take care of transactions while protecting the value of data assets.
Following this ability, the landscape for data royalty transactions will be completely transformed. The main agenda of this project is to promote data security. Following this, cases such as the UN hack will be forgotten entirely.
Regium brings more than just data security. The tools it is introducing to this industry will also bring back profitability to advertising agencies. Due to data theft and other criminal activities, advertising agencies are losing a lot of revenue and profits. Billions of dollars are being lost to fraudsters annually due to data breaches.
Regium To Transform Data Royalty Transactions Profitable Once More
The most advanced feature in the blockchain is the smart contracts it utilizes to allow for transparent transactions. Due to this feature, it is impossible for a single entity to make unwanted changes to the data on the platform. This tool makes it difficult to breach a blockchain platform.
The entertainment industry is set to be the largest benefactor of this technology. This industry is marred with piracy that sucks from it billions of dollars in revenue. It follows then that a technology that will provide adequate security to the industry’s data will be a plus.
Part of the company’s statement says that it will be possible for an independent record label to create a Dapp and be in a position to sell a digital music file to a consumer directly.
In addition, to access platforms on the Regium Dapp, users will need to use protection tools of the blockchain technology. Blockchain utilizes cryptographic restrains to prevent unauthorized access to private data.