Custos Media Technologies, a South African bitcoin blockchain-based startup that has developed the means to identify and track illegal file-sharing and pirates through the bitcoin blockchain, has received a new cash injection of over $400,000.
South African startup Custos Media Technologies, a company that uses the bitcoin blockchain to combat media piracy has reached an agreement with the Technology Innovation Agency (TIA) that will see funding of 5.9 million Rand (approx. $400,000) gained by the startup over the next two years.
A Bitcoin Reward for Downloaders?
The technology, seen as a unique way to combat media piracy, works by embedding a bitcoin bounty within a piece of a media. The watermark can then be tracked on the blockchain with the idea of recognizing and identifying infringements when the media leaves the original recipient or buyer of the media.
The watermark is an identifying code unique to each user purchasing the media. This code can be used to access a “finder’s fee”, a deposit in the form of cryptocurrency. If and when the content is shared or leaked, the third-party gains possession of