Inclusion of certificates over the different stages of the chain. A blockchain-based smart contract is a self-executing code on a blockchain that automatically implements the terms of an agreement between parties Blockchain-based smart contracts could offer a number of benefits, such as fast, dynamic and real-time updates, low cost of operation, high accuracy and fewer intermediaries.
Rights holders publish ownership information on the blockchain, consequently use policies for registered works are written into smart contract that automatically transfer usage rights. The association of public and private key permits to royalties and fees to be delivered instantly, transparently, and automatically based on the stakeholder information contained in the blockchain database, thus permitting to an open platform to facilitate infinite potential roles, application, and business models.