Blockchain application in Media industry
The digital revolution has changed the media and music industry in the past 10 years. You probably heard of these effects during the early 2010's and late 00's with the death of the newspaper and the death of music labels. These extreme changes not only affected the artists and music publications, but it also affected the people that receive the information: like fake news and artists raising the price for their music. Unlike 20-30 years ago when controlling the distribution of something like music and news was easy, the media has to discover new ways to confirm their publications to avoid forgery.
Read also: Revenue vs Reward Based Crowdfunding
Even though the music and news media hasn't fully adapted to these changes with artists still losing millions and fake news being bigger than ever, we are entering another revolution. This revolution includes the use of cryptocurrency and blockchain technology. You might rarely hear about this now, but I guarantee by this time next year Blockchain technology will be the hot word and both the news and music industry can both profit.
Why Blockchain technology changing the music industry can be good?
Blockchain technology is produced by cryptographic hashes making it completely irreversible and forge-proof. These applications don't have any forum of a 'middleman' and can be completely created by the artist. Each music piece can be bought in a completely unique identification number giving you total ownership of that number. This means that you can't share this with friends since it can be lost and not taken back. This might lead to some resells in the virtual space, but the original artist can still profit from it. This what makes blockchain so exciting it's like a virtual piece of property that you own online through your computer. It's also the reason why so many artists in the music industry are beginning to implement blockchain technology to their selling platform. Blockchain technology is an illegal downloader worst nightmare and it's coming fast.
How can Blockchain technology change the media industry?
Blockchain technology can disrupt any current established technology and forms of entertainment, but one industry you wouldn't expect it to change is the media industry. The media industry felt the digital revolution the hardest. Thousands of media companies (mainly local) shut down all operations because they couldn't keep up with the massive digital changes, and much more are still trying their best to trash outdated ways of publishing. And if you remember in the late 00's and early 2010s you would hear about a media company shutting down operations due to people not reading the news. With this being said you would think that a new revolution could hurt the media industry instead of help. Luckily, the implication of blockchain technology could actually help media publishers. Blockchain technology can be shared within a community of other people that uses the same blockchain application. This can prevent copyright and forgery for subscription based entertainment. It could also stop fake news from spreading; confirmed subscribers in the blockchain community can state if the publisher actually published an article on a specific subject.
How can Blockchain change these two industries?
Blockchain technology is unavoidable and will be the biggest forum of technology ever! It's the next gold rush in digital media and will alter the landscape. We don't have any idea by how much of a change it can create but it will be huge; there is no doubt about it. It might be a little bumpy at first , like with all changes, but it will get better once these two industries adapt.
You may also be interested in:
CrowdholdingCrowdholding connects the crowd with entrepreneurs, allowing you to give feedback and ideas for a future share.
First æternity Aepp Joins Crowdholding: Welcoming CryptoTask
Crowdholding Partner’s with Aeternity Ventures to support Starfleet Acceleration Program
Crowdholding May Update
Top 5 reasons to get YUPs! (Get dividends for holding YUPs)
Crowdholding April Update
Implementing Crowdholding widget to your website
ITF excelled with Crowd Wisdom
TailoredInk ICO Community Management
IronX ICO Social Media Marketing
Aerum ICO Influencer Marketing
Jarvis built with the crowd
ySign engaged the blockchain crowd
6 Ways to Earn Crypto For Free
Common Mistakes When Investing in ICOs
Connectjob joins Crowdholding
Week in a Nutshell & Smart Contract
Opporty joins Crowdholding
Getting to Know our Users
SmartCash joins Crowdholding
Bitcoen.io joins Crowdholding
What is a Smart Contract?
How to Create an ICO - Part 3 - Marketing
How to Create an ICO - Part 2 - The Two "W's"
How to create an ICO - Part 1 - The building blocks
Invest Time, Not Money
What alternatives are there to financing your business?
What is an ICO? And should you invest?
Blockchain technology : changing the world of business silently
Crowdholding’s Pre-Sale — A Case Study
How to become a Crowdholding supporter: Part 3 exchanging ETH for YUPIES
China ban on ICO’s : Not all Doom and Gloom?
How to become a Crowdholding supporter: Part 2 Buy some Ether (ETH) on Coinbase
How to create a task on Crowdholding
How to become a Crowdholding supporter: Part 1 creating a Ethereum wallet on MyEtherWallet.com
How to create a project on Crowdholding
Cryptocurrencies and their value
What is Crowdholding?
What is a White Paper? And do you need one?
What can CEO’s / Entrepreneurs learn from athletes?
How to start my own business? Part 3. Validating Your Business Idea
Top 10 career mistakes to avoid
6 Benefits of a Sharing Economy
How to start my own business? Part 2. Factory for ideas
Startup Promotion and Content Marketing Strategy
How to start my own business? Part 1. Five simple rules
The Year Capitalism could have Changed
Robots & Work: Jack Ma Predicted The Emergence of Robot-CEO
Startup Psychology: Why Entrepreneurs will save the planet?
Billionaire's School: it's hard to be the first
10 interesting sport startups that will rule 2017
30 reasons to be an online entrepreneur
How to chose a dating site?
You should know this striking marketing trend
10 reasons to join Crowdholding if you are a student
How did 67,000 people create the first crowdsourced melody?
Launch a startup with a partner, never alone.
Collaboration solves education problems with flying colors!
Hollywood movie from your smartphone?
Design your room the way you want it!
Hi, Your business is now a unicorn!
Hi, You're Hired!
Don't want to change the world for the better? You can stop reading now.
Sharing Economy is not a niche, it's the future
📊 What if karma was 🆚 worth something? 🤜🤛
Raise capital, preserve equity
5 marketing strategies for successful contact with Millennials
Why 75% of new products are doomed to fail?
Small Business Staffing Opportunities
What are Crowd Currencies?
Mass Collaboration leads to unprecedented innovation
Alternative Finance: Equity vs Crowdshare Crowdfunding
Co-creation between the crowd and small businesses
THE RELATIONSHIP BETWEEN IT AND CO CREATION
Corruption on Wall Street: The Stolen American Dream
To own or to rent, trends in sharing economics
CROWDSOURCING IN FASHION
Crowdsourcing a girlfriend
CrowdSourcing Trends 2020
Peer-to-peer journalism: What and how?
The Peer-To-Peer Marketplace Revolution
Peer-to-peer in the fashion industry
The relationship between Co-creation and Innovation
CROWDFUNDING AND VIDEOGAMES
Revenue-sharing vs Reward-based crowdfunding
NON-EQUITY CROWDFUNDING CHANGING FASHION BUSINESS
Blockchain application in Media industry
Blockchain Technology & Crowdfunding
Creative marketing through Crowdsourced Content
JOBS OF THE FUTURE
Alternative finance for small businesses
WHY CO-CREATE? – A message to the Crowd
Think Tanks and Benefits
Empowering Global Citizens to Improve Education
THE EVIL WALL STREET
Co-creation in Tech
Co-creation and Innovation
WHY CO-CREATE? - Benefits for Small Businesses
Co-creation in the Fashion Industry
Crowdholding vs Wallstreet
Make a brand your brand
Reward Distribution Rules.
Please read below how the rewarding structure works.
Voters get 35% of the reward
Commenters still receive the majority of 65% of the reward weight, while voters 35%.
You receive only 7 upvotes and must vote what you think are the best answers
You now have a limited amount of upvotes. You won’t see the other user votes until the task expires. If you vote the top half comments you will receive a portion of the 35%.
Top 50% upvoted comments get bigger share
Our algorithm gives top 50% upvoted comments more rewards than the bottom 50% comments.
Give me an example with numbers
Upvoters get 35 % of the reward.
65 % goes to the commentors.
Half of the reward is gained from bottom 1/2.
Upvoters get nothing
1/2 of the reward pool for this segmentis distributed among top 1/2
There is a task with 1000 Reward.
Let’s assume Top 1/2 recevies 70% of all upvotes.
Bottom gets 30 %. But because half of the reward goes to Top 1/2 that makes the final numbers more like Top 1/2 gets 85% (55.25% for commentors, 29,75% for upvoters) and bottom gets 15 % of the final reward.
If there’s 100 upvotes:
1 upvote that upvotes a comment in Top is worth around 12 Yups (circa 8 goes to commentor, 4 goes to upvoter)
1 upvote that upvotes a comment in Bottom is worth 5 (All goes to commentor).
Reminder about our Moderation
If you upvote a comment that’s reported as Spam or comment that should not be rewarded (eg. “Good job” comments) you will lose your right to be rewarded for this task.
We hope you like this new system and it brings you lots of fruitful discussions and reward you fairly.
Do you still have questions? Read more detailed explanation at our helpdesk
All the best,
Your Crowdholding Team