ImmutableSoft Inc., a self-described “open and decentralized application store built on Ethereum blockchain technology,” has introduced what they call Automatic License Manager (AutoLM), according to a press release from the group.
Essentially, the goal is that those who create software should be properly rewarded for their efforts. This AutoLM is meant to do just that, but on a decentralized platform that’s open to all, it reads.
“Coupled with a decentralized and publicly audit-able resale Immutable Ecosystem, digital product activations are transformed into digital assets of more inherent value, while increasing overall afford-ability and desirability,” the press release defines.
The AutoLm allows distributors to automatically sell licenses to their software by utilizing cryptocurrency. It’s an open-source platform and incredibly secure to boot. The press release details a little more about how this process works:
“When integrated together with the digital product that is to be licensed, AutoLM will query the immutable Ethereum database and verify that a product license activation is in fact valid (ie. has been purchased). The security of AutoLM works by utilizing a globally unique, read only PC/OS identifier and cryptographically tying it together with the unique entity and product information, including a secret password from the software creator. This one way cryptographic algorithm yields a unique activation identifier that is then used to identify if the installed software is ‘valid’ (ie. has been purchased) as a current digital activation asset, stored on the immutable Ethereum database.”