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  • Peter Kam Fai Cheung SBS

What's SMART?

What is the mnemonic acronym"SMART"? Here is my version: "S" means "strategic", "M" "measurable", "A" "accountable", "R" "result-oriented", and "T" "time-bound". In an age of upheaval, everything, be they information technology. media content or business model, differs from the past, and our actions now creates our future.

Web-based blockchain or decentralized ledger technology (DLT) transforms information technology and its application by building in tech-based trust in our DLT relationships. DLT backed smart contracts should scale up lower-level "if-then" transactions. I think they provide a SMART solution for the international copyright clearance of digital media contents.

A perfect fit is for DLT innovators and digital copyright content providers to collaborate. They can shift the paradigm by designing, building and maintaining a permissioned (access control) blockchained network without intermediaries. They can even use copyright to back up the network's cryptocurrency if one such is to be offered.

To start up something is not easy, no matter how lean is its costs structure. To develop and operate the new higher level solution that generates recurrent revenue in the short term is hard. I believe the willingness to co-invest intellectual effort to co-create the business solution and to share the benefit should form the path to success!

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