iQIYI, one of China’s largest online video platforms with over 100 million subscribers.
iQIYI is exploiting the Ethereum smart contract standard ERC-3475 to solve copyright- related issues , according to a press release .
Smart contracts run on a chain initiated by iQIYI and nodes provided by the copyright issuer.
ERC-3475 is a smart contract standard created by DeBond . iQIYI’s in-app smart contract can allow users to store specifications, including metadata, values, and transactions, without the need for on-chain or off-chain storage .
IQIYI will launch a public test of the smart contract in the first quarter of 2023 , according to the statement.
Last November, iQIYI CEO Gong Yu said he hopes to prevent piracy of iQIYI’s original drama, as the platform has detected 270,000 plagiarized videos . from the popular TV series “ Hero Husband “ in 2021.
In 2019, iQIYI launched a copyright blockchain that allows users to upload videos for copyright confirmation.