Content creators typically rely on several structures to create a digital product. It can include content libraries and repositories, multiple intermediaries, meta-data generation software and technologies, quality assurance chain partners, and associated systems. On the other hand, there are contents on the internet about the success of bitcoin that is written during the pandemic.
But while this digital distribution process may look seamless on the outside, there is often no transparency on how these disparate systems work together to deliver a digital product in its final form — until now! The advent of blockchain technology provides opportunities for both parties involved the publishers and creator- for more open channels of communication with significant data privacy and security benefits.
Blockchain technology was initially designed to create, distribute, and validate transactions between two or more parties. Now it looks set to become a shining star of content distribution too. Let’s take a look at how.
The power of blockchain technology in content creation
The term ‘blockchain’ is often thrown around without much thought or understanding of what it means or how it fits into the picture.
Content creators can upload their work to a decentralized database
Through blockchain technology, each member of the digital chain can access their pre-determined data set. It could be anything from information about the file generated by a specific piece of software (i.e., metadata) to a watermark. Not only does this make it easier for all members of the content creation industry to view and verify vital data, but it also improves productivity and efficiency at every stage in the digital chain.
This blockchain approach to content creation also offers a range of additional benefits to publishers and creators alike. For example, it allows content creators to receive compensation based on the popularity of their work. By using a decentralized database, all manner of transactions can be carried out automatically and transparently, such as:
- Recording ROI tracking data at the individual asset level
- Distributing royalty payments to creators based upon a predefined set of criteria in real-time – Tracking invoices with secure smart contracts
It provides a significantly improved workflow for publishers who can now track their creations from start to finish with enhanced visibility into a creative performance. It is especially true when you consider that previous methods for tracking ROI were cumbersome and highly time-consuming.
Compliance
Blockchain technology also has significant advantages around compliance. For example, digital rights management (DRM) or watermarking is a standard tool used across many industries to identify ownership and ensure that no unauthorized access has been made to restricted information or files. However, the reliability and security of DRM security measures are often called into question.
Experts in the field have warned that there is a growing number of ways to break DRM. This concerns publishers because their work selection may be stolen and redistributed by rogue third parties. It also means that any watermarking system used for digital distribution cannot guarantee accurate tracking or payment. As a result, it makes it more difficult for content creators to track performance and compensation accurately.
Blockchain can also track and reward content creators for their work
Just like all other transactions on the blockchain, authors can easily record and validate all of their transactions via a decentralized database. It includes:
- Content creation and delivery
- Requesting payment for the use of the content
- Providing access to their content for free (i.e., if it is for an educational resource)
But what about rewards? Well, blockchain has recently begun working with microtransactions. So much so that you can already purchase digital gifts such as SounDAC Music on the Ethereum platform using cryptocurrency. So the potential to reward content creators based on user-generated micro-transactions is substantial and far-reaching.
It would make it easy for journalists, researchers, and investigators to track where information comes from and how it is used. JIn addition, web page publishers could verify that visitors see their content fully. Finally, it could be beneficial for companies offering free content. For example, blockchain technology could record that fact if a new medical development was provided by people free of charge via an online news portal. Access rights:
Blockchain technology can make it easier for content creators and publishers to manage access rights. For example, an online education provider like Coursera can issue certificates to students who complete online courses. In addition, it can be instrumental when a third party has created copyrighted content or intellectual property. Yet, the blockchain can provide a reliable digital signature and track ownership of work at a granular level in the chain.
Implementation
Using the blockchain in content creation is still very much in its infancy. There are, however, opportunities to start adopting blockchain technology right away. For example, companies offer unique ways for content creators to protect their images and videos via blockchain technology.
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