Fixation and Turnover of Exclusive Rights to Copyrighted Works Using Smart Contracts: A Myth or Reality?

Abstract

The use of new technologies, including blockchain and NFT, can become a tool to ensure protection of rights and legitimate interests of copyright holders and stimulate innovation in various fields. The paper considers two legal problems related to the deposit and turnover of the results of intellectual activities, including copyrighted works. The first problem is the possibility of using blockchain technology to deposit such works. The paper provides an overview of main methods of fixing the fact of existence of a copyrighted work, including options without depositing and with depositing. The author concludes that depositing an object of copyright, including blockchain, does not mean its use in the sense of civil law. The second problem is the turnover of rights to deposited objects. The author suggests the best way for the copyright holder, i. e., depositing the result of intellectual activity with subsequent transfer of the NFT to the copyright holder. This solution will make it possible to equate the transfer of NFT with the transfer of the exclusive right to the work.