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Idea: Using bitcoin for the basis of digital scarcity goods.

Setup

One of the problems with DRM systems over the years has been that they are centrally controlled and carry inherent risk. We saw this with “PlayforSure” which failed. Anyone that bought into those digital goods lost everything when the service shutdown.

This has advantages and disadvantages. Right now ReDigi is fighting to resell “used” mp3s. This mostly doesn’t work for obvious reasons (how do you guarantee there aren’t any copies?).

Idea

Ok, so is it possible to mint digital goods that are unique and enforce a license? Bitcoin offers a decentralized currency and it’s major advantage is that a Bitcoin can’t be “copied” and spent twice. Can we apply the same idea to software? Media? Is it possible to build a decentralized system for distributing and managing these different things, your license can be transferred to others, ie sold, just like Bitcoins. Would that work? Would it be worth it?

Posted Tuesday, May 7, 2013
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