Blockchain: The Next Boon for the Online Content Industry
The revolutionary blockchain technology can considerably influence the routine functioning of the content industry through its unique features. For example, news features published on an online portal could be linked to their respective writers for various purposes including revenue sharing. As one of its many unique features, the blockchain technology helps to complete profit sharing process, featuring the works of all writers including small bloggers.
Micro-payment systems supported by blockchain technology helps print media pricing models to attract new customer segments by allowing those who are reluctant to have a subscription to view a wide range of content, access a small range of material. Blockchain also assures advertisement-sensitive readers to read any numbers of articles free from advertisements at a compelling price. For this, the readers need to register and tender payment details to activate pay-per-click facility to access digital content services.
There will be substantial transaction quantities as a large amount of historical data needs to be retained at blockchain junctions. This is due to the use of enormous deals made to utilize the blockchain technology in the payment systems of digital media.
Blockchain technology supports everyone from major media businesses to small bloggers to generate advertising returns easily. As blockchain allows precise tracking of content usage, the content creators can directly interact with the online users and can sell their digital copies of videos, songs, articles, and other forms of digital media content.
As the content creators directly communicate with their users, the content aggregators and advertising networks are likely to lose their dominance in the market. Also, existing multifaceted media and advertising ecosystems will become uncomplicated and more transparent. Monetization of content is expected to become more democratic, and entry hurdles could vanish as anyone can use the online podium to publish the content.