'Netflix China' iQIYI uses ERC-3475 to resolve copyright disputes

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iQIYI, one of China's largest online video platforms with over 100 million subscribers.

iQIYI is mining the smart contract standard Ethereum ERC-3475 to solve problems related to license, according to a Press Release.

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Smart contracts run on a chain initiated by iQIYI and nodes provided by the copyright issuer.

ERC-3475 is a smart contract standard made by DeBond create. iQIYI's in-app smart contract, which can allow users to store specifications, including metadata, values, and transactions without no memory needed on-chain or off-chain.

IQIYI will launch a public test of smart contracts on first quarter of 2023, according to the statement.

Last November, iQIYI CEO Gong Yu said he hopes to prevent the situation copyright theft for the original iQIYI drama, as the platform discovered 270.000 video Stealing ideas from popular TV series " Hero husband " in 2021.

In 2019, iQIYI released a copyright blockchain that allows users to upload videos to confirm copyright.

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