Rightory Inc. has announced its plan to launch exclusively on the Hedera Hashgraph public network.
Rightory is a platform leveraging distributed ledger technology to democratize and disintermediate the complex rights and licensing supply chain for media, entertainment and fashion brands globally.
The rights management software solution for media, content, and branding is getting on the on the Hedera Hashgraph public network.
Hedera utilizes the hashgraph consensus algorithm, invented by Dr. Leemon Baird, for significant improvements in throughput, latency, efficiency, and security as compared to first-generation distributed ledger technology like blockchain and Ethereum.
What the Hedera Hashgraph platform Means to Rightory
According to the CEO of Rightory, Roy Malkin the Hedera Hashgraph platform represents a fundamental breakthrough in distributed ledger technology, and Rightory is very excited to be at forefront of adoption.
The Hedera Hashgraph platform will allow Rightory to focus on its goal of democratizing and disintermediating the complex rights and licensing supply chain across media, content, and branding.
Rightory will be among the first set of distributed applications to launch on the Hedera Hashgraph platform.
What Rightory Users Should Expect
The Rightory platform will enable users to upload brand assets and rights data, which are then associated with specific intellectual property. Rightory will then verify ownership and record to the Hedera Hashgraph public ledger, enabling users on the platform to sell or license assets via the Rightory marketplace.
The Hedera Hashgraph public network will be capable of processing hundreds of thousands of transactions per second with finality achieved in seconds. This is critical in enabling the use of micro-transactions that Rightory will utilize for the monetization of content, according to Jordan Fried, VP of Global Business Development for Hedera Hashgraph.
The company said it pleased to advance the future of decentralized technology alongside Rightory and are confident that it will provide newfound efficiencies, speed, and security to Rightory's rights management solution.