Chinese insurer ZhongAn patent blockchain to combat counterfeiting

Chinese insurance company ZhongAn has filed a patent application in China to use the blockchain to protect the rights of intellectual property of media companies in the face of rising piracy and illegal file sharing.

According to a statement on the website of State intellectual property office of China, the creators of blockchain platforms are keen to prevent unauthorised distribution of digital media content, giving companies the opportunity to determine who divided them.

The blockchain will allow Zhong to associate the buyer with the data of the purchased product and process information to create a unique hash.

If the Internet will be found identical content, the system will process your data along with pirated content and flow them through the same hashing function and comparing the result with the data stored in the blockchain. When the same information is found, the system will determine which customer violated the license agreement.

However, there may be obvious difficulties, as even a minimal change in the content will give a completely different hash, and the pirates will be able to quickly learn how to distort the results of the hash.

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