As the days go by, more revelations about the application of the blockchain technology are, being revealed, although, blockchain has found bastion, in the finance industry.
To a very large extent, this is right, due to its ability, to keep records, verification and allow for their future retrieval.
One other aspect, of the blockchain technology that, has ensured that technology gains more prominence, because of its secure database.
Many people, across a distributed network, can share it and also see everything that is happening, on the network.
Blockchain is, decentralized, so, it cuts away autonomy and gives everyone access and power.
For these reasons, its application is spread, across major industries and sectors, which include; Real Estate, Cryptocurrencies, Retail, Aviation, Media and Entertainment, etc.
The main focus is, how can the blockchain technology affect, police and change the media and entertainment world?
The global entertainment and media market, has been estimated, to reach, approximately, USD 6,709.4 billion, by 2030, registering a CAGR of 10.40%, during the forecast period.
These statistics shows that the media and entertainment industry is, massive, with a lot of players, in the ecosystem, but the flip side is that, piracy, bad content, distribution and monetisation is, rampant.
Blockchain, however, seems to be the only solution that can, effectively, police and changes these narratives.
Below are 3 ways blockchain can police and change the media and entertainment industry
Content Consumption and Sharing
The blockchain technology will, effectively, police the issue of content sharing, among peers, which cuts off the content’s original creator.
Giving the content creator, the ability to track, how the content is being shared, thus, earning money in the process.
The blockchain platform is, watertight and no information can go out of the grid of the content creator.
Intellectual Property is, more Protected
Piracy is, a scourge that needs to be, effectively, cut off, from the root and blockchain technology, can effectively, do this job.
The blockchain keeps all records and they are, very easy, to access, at any time that it is needed.
Content creators can monitor who they gave access to, for the consumption and viewership, of their content.
This move, will effectively, cut off intellectual property thieves.
Efficient Content Distribution
With the blockchain technology, content is, even, distributed, in ways that please the content creator.
It, also, gives content creators leverage, to interact directly, with their audience, thus, creating a seamless exchange of information, between the content creators and their audience.
Featured Image: medium
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