Fred Lutz, chief operating officer at Custos, said that the process basically involves embedding an invisible and difficult-to-remove watermark into the digital content, the watermark in this case being a Bitcoin private key. If the watermarked content is then leaked there is a small Bitcoin reward that can be collected by the first person to find it.
“The code that we embed throughout the movie is a Bitcoin private key, and we top-up the associated account with some bitcoins,” Lutz said. “We have a tool available publicly at PRIVATEER.XYZ with which anyone can read the watermark and extract the bitcoins. This means that a movie or ebook that goes out of the control of the intended recipient now has some vulnerability ‒ if it lands in the wild, the bitcoins will be extracted and we are notified through the blockchain that the funds were moved. We notify our clients of the identity of the customer that is associated with the private key and they can respond accordingly.”
Custos recently announced a second round seed investment of just under US$ 265 000. The new shareholders are a South African private investor, and Digital Currency Group (DCG). Based in New York City, DCG has been an active seed investor in the digital currency industry with 60 investments in 20 countries.
Van Rooyen, CEO of Custos mentioned that the capital will allow the company to reach high-risk media producers – for whom piracy can literally cut tens of millions of dollars from their production budget when a title is leaked. Custos is also testing a solution for protecting ebooks.
“We’re thrilled to partner with investors who can really take an active role in helping us reach our target market”, Van Rooyen said.
This latest funding round follows a US$ 140 000 initial investment last year by Innovus, the Technology Transfer Office of Stellenbosch University, where the initial concept was developed.
- CEO Patrick M. Byrne Resigns From Overstock Over ‘Deep State’ Comment and Affair with a Russian Spy – Stock Rises - August 22, 2019
- Telx Technologies Launches World’s First Cryptocurrency Sim Card Wallet And Phone Number - August 22, 2019
- Chainalysis Launches Real-Time Alerts for Suspicious Transactions For 15 Cryptocurrencies - August 22, 2019
- Factom Launches New Stablecoin called PegNet Stablecoin - August 22, 2019
- HitBTC Cryptocurrency Exchange Offers Massive Rate Cuts - August 22, 2019
- American Classic Beer Miller Lite Teams Up with Blockchain Vatom Labs to Create New Customer Experiences - August 21, 2019
- WordProof and WORBLI Partner To Bring Online Content Transparency Using Blockchain Technology - August 21, 2019
- Polkadot Cuts Deal with Blockchain – 41M Wallets to get Polkadot.Network DOTS - August 20, 2019
- David Chaum’s New Quantum-Resistant Digital Currency, Praxxis, Has Arrived - August 20, 2019
- New Satoshi on the Block Plans a ‘Reveal’ – Bitcoin Community Responds - August 19, 2019
- Binance Announces Open Blockchain Project ‘Venus’ – Calls on Governments, Companies and Organizations to Develop Localized Stablecoins - August 19, 2019
- Blockchain-Fueled VeganNation raises $10 million for Vegan Global Marketplace - August 19, 2019
- Fight to Flame – Mike Tyson Denies Issuing Token and Working With Fight2Fame - August 17, 2019
- Bitcoin Wealth is Almost 50 Times More Concentrated than Global Wealth According to PARSIQ Research - August 16, 2019
- Graph Blockchain Signs LOI to Acquire Cyberanking Ltd. an Esports Company - August 16, 2019
- Blockchain Moves Into The US’s Largest Oil Fields With Data Gumbo - August 16, 2019
- BlockStar Teams Up With Cycling Apparel Brand De Marchi to Auction Fausto Coppi’s Cycling Jersey - August 16, 2019
- Zcoin Available to Five Million Merchants in Thailand - August 16, 2019
- Republic Partners with Althea to Launch First-Ever Compliant Security Airdrop for Retail Investors in the U.S. and Abroad - August 14, 2019
- Mark Cuban’s Dallas Mavericks Basketball Team Join Up With Bitpay To Accept Bitcoin For Tickets And Gear - August 14, 2019