Author: Michael Hathaway
The entertainment and media industries have been creating technology to protect their written, visual, audio and streaming content for decades.
Whether its magazines, newspapers, film studios, music labels, streaming services, stock photography and video companies, or the individual writers, singers, artists, designers – those who invest their time and capital in creating the content we love to consume continue to struggle with managing and getting compensated for their intellectual property.
Unclear ownership of content continues to blur the fast-moving world of media, particularly given the extensions into social media – and the “twenty-four-hour news cycle.”
Controlling content is a problem that is ripe for solving – with blockchain. By decentralizing the way content is shared, stored and commercialized all participants who benefit from content – from the creator to the consumer – win.
One great example of a blockchain purposefully designed for content management is the Ink consortium blockchain which digital certificates, user identification and permission control. With rules and policy, this innovative technology allows different entities defined levels of access to specific data and resources.
Based in Singapore, Ink launched a successful token sale last November; the INK token is available on several crypto exchanges including EXX, Allcoin, BigONE, Gate.io, Coinegg, Lbank, Coinnest, ZB and others.
Ink’s consortium blockchain is built on an accounting system that can cater to unlimited, authenticated users to manage digital assets and interact directly with the consortium, completely anonymously. It’s a very straightforward value proposition: control your content, control and grow your income.
Even as the entertainment and media industries continue to respond to the implosion of old models, thanks to the Internet, they continue to try and force top-down methods, which rewards big companies at the expense of artists.
What do these big institutions fear most? They fear losing even more control, which will happen when the marketplace is governed by an “exchange” – auction and bidding – environment.
Cash flow is another issue – blockchain companies n the IP asset management world, like Qtum, bring liquidity to the artists – the content creators entertainment and media companies have lived off of since the inception of digital media.
The best answer may be having both industries adapt to a new, more democratic world, which can also benefit even the biggest conglomerates by bringing more automation to the process, even if this does bring more leverage to the artists. The fact is – neither industry can thrive without them.
And while Bitcoin gets the most media attention these days – the REAL story is in blockchain to operate enterprises, industries, consortiums, communities and marketplaces better. It’s really that simple: use blockchains for efficiency, productivity and profit gains.
At Cognida, we’re obsessed with the underlying mechanism enterprise blockchain. Even though we are relatively early in this tectonic shift, blockchain (in part through cryptocurrency) has already proven its success by controlling the equivalent of $9 billion USD in value and 250,000 daily transactions.
Its success is based on an immutable, decentralized register of every transaction. Now that we’ve proven it works, Cognida wants to make sure it works efficiently and securely so have created a network and platform that supports any blockchain – we’re agnostic!
Cognida uses blockchain to securely establish identities, asset ownership and permissions to access that asset, be it content, devices, or information shared in the cloud.
We are following the amazing creativity now happening with the invention of new blockchain mechanisms that enable decentralization, and excited to see so many new applications coming online.
Blockchain has the potential to revolutionize everything digital, including publishing and content distribution, management – and ownership.
Are you in control of your content? You could be in much more control, as a consumer, as a creator, as a publisher or distributor. Just as electronic trading completely changed the financial markets, blockchain will change the way we exchange just about everything.
This is one reason the team at Cognida is working so hard to make sure enterprises and entire industries can take full advantage of all the benefits.
This is meaningful work.