Baidu: Launches Stock Photo Service on Blockchain
The Chinese version of Google, Baidu, has just launched its own online stock photo library named Totem.
Who is Baidu?
Baidu is an Internet and artificial intelligence specialist and a Chinese multinational organization based in Beijing. It is also the eighth largest company in the world in terms of revenue, with an annual revenue over 1 billion USD. It is currently listed as number 6 in the top search engines around the world with over a billion searches taking place every single month. Baidu is currently sitting at number 4 in the Alexa ratings.
The background behind the release of this product is, in essence, to protect the rights of images and intellectual products in China.
Totem was released on Wednesday 11 April 2018 and uses Blockchain for the very fundamental dating and timing of each loaded photograph.
The fact that Baidu is a solid artificial intelligence organization with the ability to data scrap on the Internet ensures that there is a strong intellectual property company behind the photo service. This definitely adds extra creditability to Totem.
Baidu has stated that by using the data that is already stored on the Internet through Blockchain software allows images to be compared easily. Breaches of intellectual property rights can therefore be ascertained very quickly and action taken where necessary. This has been extremely difficult to do in the past.
Large stock photo libraries are already beginning to make their move over to Totem including Visual China Group – who are associated with the larger than life Getty Images in China. More are expected to follow suit very soon.
What Does This Mean For Blockchain?
Baidu has been pushing for an increase in Blockchain software in China and this is another step forward towards that dream. At the moment, there is no confirmation as to whether Totem is on a private or public Blockchain but no matter what this is big news for Blockchain and could really open up the Chinese market for this software product.
Blockchain is quickly becoming a tried and tested piece of software to help technology companies deal with intellectual property concerns. Kodak has recently announced that it is to build KodakOne using a Blockchain to manage its digital media assets. The limited information released suggests that photographs will be watermarked securely and cryptographic hashes will stored on the Blockchain.
This is the start of things to come for Blockchain. Professional photographers have struggled to secure their images successfully over the years, but Blockchain is the perfect solution to fill this shortfall. It’s design features match the needs of photographers and stock libraries and these initial steps really could be the start of things to come.
With China now pushing for more Blockchain technology to be used, the software product is on the edge of a really large increase in demand. This would inevitably be life changing for Blockchain and the industry as a whole. It will be interesting to see how this unfolds over the coming months and years.
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