This VIP special report will take you on a deep dive of blockchain, exploring its conception, existing and potential applications across key entertainment sectors, and why exactly it has commanded the attention and imagination of so many media enthusiasts.
Film, music, book publishing, photography, print and digital journalism, social media, even fine arts – all media sectors are seizing upon the potential blockchain has to skirt traditional buying, selling, trading and funding systems embedded in the creative industries. Not since the dawn of online has a new technology collected so much interest, or cast such a thick cloud of intimidation over media purists. To those most crazed about its prospects, blockchain proposes solutions to nearly every sector of entertainment and will drive a much-needed revolution across economic, operational and artistic fronts. To skeptics, it’s a neat experiment at best and a technological black hole at worst.
Even with all the hype, blockchain is still in a developmental phase. There are lots of technical barriers impacting its ability to support industries at the size necessary to maintain and build health on a mass market scale, and public blockchains are still limited when it comes to the size and speed of the transactions they must process, as is the case with Bitcoin, blockchain’s patron saint. Newer protocols such as NEO and EOS have achieved faster speeds and can handle larger blocks of data, but have a long ways to go when it comes to achieving the processing speed of major credit card networks.
But while blockchain is still in its teething stage, its greatest potential impact across media likely won’t come from enabling new consumer behaviors, but rather by providing new tools to restructure supply chains historically riddled with inefficiencies on terms that are more just and equitable to those funding it all. We see blockchain’s long-term impact not as a hammering blow of disruption, but rather a gradual reinvention of the various paths to market each media sector endures.
Read on to learn about:
The driving factors behind blockchain in media through examinations of what is influencing recurring interest and the newer, popular initiatives drawing increased attention
How blockchain came to be in the first place, with meticulous breakdowns of the term's coinage and what key traits like protocols, smart contracts and tokenization mean within blockhain's context and applications
Numerous examples of how blockchain is being applied across music, film & video, video gaming and publishing, and determinations of its effectiveness in each of these sectors