California Governor Gavin Newsom has signed a bill into law that won’t stop companies from taking away your digitally purchased video games, movies, and TV shows, but it’ll at least force them to be a little more transparent about it.
As spotted by The Verge, the law, AB 2426, will prohibit storefronts from using the words “buy, purchase, or any other term which a reasonable person would understand to confer an unrestricted ownership interest in the digital good or alongside an option for a time-limited rental.” The law won’t apply to storefronts which state in “plain language” that you’re actually just licensing the digital content and that license could expire at any time, or to products that can be permanently downloaded.
The law will go into effect next year, and companies who violate the terms could be hit with a false advertising fine. It also applies to e-books, music, and other forms of digital media.
Could you imagine those ledgers trying to process when everyone in existence tries to insert hundreds to thousands of unique licenses. Then having to continuously access records on every media use after that.
How many unique copies of media are there out there. Hundreds of billions, trillions. I don’t think we have anything adequately designed at this point that could handle that kind of load.
Thats not how it’d work. The blockchain will generate the NFT but the NFT can authorize itself. You can do offline signatures that will prove you own the token and thus own the media. It doesn’t need to check in with anything online to pass a validity check once it’s issued.
The token is unique, the media is just out there exactly like it this today. How many billions of copies of songs have been download from iTunes?
Edit: And layer 2s will be able to handle 100,000 TPS or more in the future for the initial issuance. I didn’t say today, I said where the future is heading. That’s 3,153,600,000,000 transactions a year, and it’s going to be more than that.