China Wants to Prevent Copyright Infringement with NFT Technology!

Chinese authorities have gone after creators of digital collections based on other people's artworks whose use is not permitted. The government's initiative is part of a campaign to combat online copyright infringement and piracy with the participation of various departments.

The National Copyright Administration of China (NCAC), together with the Ministry of Industry and Information Technology, the Ministry of Public Security and the State Internet Information Office of the People's Republic of China, recently announced the launch of a campaign against copyright infringement and piracy on the Internet. The main objective of the initiative is to investigate cases involving the sale and distribution of infringing products on short video, live streaming and e-commerce platforms. It also wants to improve copyright oversight of online businesses by immediately dealing with infringing content through investigations. NCAC is concerned about the growing problems with copyright protection arising from the activities of a large number of organizations working with innovative technologies. One area where the watchdog wants to increase oversight is NFTs. 'We want to seriously crack down on the unauthorized use of others' art, music, animation, games, films and television works to create NFTs, make digital collections and sell pirated scripts over the internet,' an official said. 'The Authority will strengthen the entire online copyright chain. It also believes that progress can be made in this direction by promoting regulatory standards and imposing penalties. This will accelerate the establishment of a market-driven, legalized and international business environment. It would also provide the copyright support needed to encourage entrepreneurship and innovation. While China allows acquisitions, it tries to prevent speculation in NFTs. Tech giants such as Tencent and Ant Group have cooperated with Beijing. They have also distanced themselves from the crypto-related term NFT, preferring more general digital collectibles. In April, reports indicated that the popular Chinese messaging app Wechat had suspended accounts linked to NFTs. China Is More Welcoming to NFTs! When you think of China, almost everyone thinks of bans. Even when the government was at its best, it attracted all the attention by issuing crypto bans. Recently, it is rumored that bans will also come to the NFT field. The government does not seem to look favorably on the digital world for now. However, the government has repeatedly stated that it will never lag behind in digital. The Chinese government continues to take a tough stance against initiatives that they cannot control. Even the most well-known brands have highlighted their commitment to bans by shutting down some of their platforms. Many companies have even halted or shut down their initiatives. In addition, the government wants to enter the market with more control mechanisms.   Source: nfxhaber.com Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!