Could a blockchain-based bounty system catch piracy?

Microsoft Envisions a Blockchain-Based Bounty System to Catch Pirates Home > Piracy Research > A new paper published by Microsoft's research department proposes to tackle piracy with a blockchain-based bounty system titled "Argus." The system allows volunteers to report piracy in exchange for a reward.

What is bounty in cryptocurrency?

What is Bounty? Bounties in cryptocurrency is a program through which incentivizes positive behavior and action towards the company product. In the case of cryptocurrency, it generally happens in the ICO phase. So, for example, if a company releases a new program or service, they will introduce a new bounty program.

What is a bounty hunter?

People who carry out these bounty programs are known as bounty hunters, and they receive handsome rewards every time they complete these programs. They can pursue several reward programs simultaneously, though they mostly only chase the best-paying programs.

Is blockchain a reliable way of storing data?

But it turns out that blockchain is actually a reliable way of storing data about other types of transactions as well. Some companies that have already incorporated blockchain include Walmart, Pfizer, AIG, Siemens, Unilever, and a host of others.