Ethereum co-founder and ConsenSys creator Joseph Lubin said that blockchain technology and decentralization can benefit content creators and journalists. Lubin spoke about different industries that are benefitting from blockchain technology in a video on March 12.
In the video, Lubin said that artists are âset to benefit quite dramaticallyâ from blockchain, as it allows them to attach policies and stipulations for how the content is consumed and shared i.e. derivative works, streaming, public performances, etc. In Lubinâs view, it also allows them to eliminate middlemen:
âIn regard to journalism, Lubin said that blockchain-driven platforms like Civil could help the âguttedâ journalism industry to deliver content directly to the consumer and âreturn ethics to journalism.â Lubin said that a platform like Civil allows newsrooms to form a code of ethics and stake that security bond on the platform:
In the video, Lubin said that artists are âset to benefit quite dramaticallyâ from blockchain, as it allows them to attach policies and stipulations for how the content is consumed and shared i.e. derivative works, streaming, public performances, etc. In Lubinâs view, it also allows them to eliminate middlemen:
âI think artists in the music industry on average capture about 11 or 12 percent of the value in the industry and those big record companies are sucking up 70 or so percent. We can replace those record companies with smart contracts on the Ethereum platform.âLubin continued that, while there will still be intermediaries such as promoters, they will not be able to âget to a commanding position where theyâre extracting enormous rents just because of their intermediary role.
âIn regard to journalism, Lubin said that blockchain-driven platforms like Civil could help the âguttedâ journalism industry to deliver content directly to the consumer and âreturn ethics to journalism.â Lubin said that a platform like Civil allows newsrooms to form a code of ethics and stake that security bond on the platform:
âIf they break that pledge in some way, their readership, their listenership can call them to task, can challenge their stake and potentially have them bumped off the platform.â ÂEarlier this month, Civil announced its official launch, despite a lackluster initial coin offering last year. The platform â which aims to provide an alternative business model to the journalism industry â now allows participants to purchase Civil membership, including CVL tokens which will represent membersâ voting power within the Civil ecosystem.
-
- 1
Francisco Gimeno - BC Analyst The blockchain allow for many new ideas which radically change the way we work and interact. or media and art this is going to be very visible, as it may allow artists and content creators to own their works and art and content consumers enjoy a cheaper but good quality work. No more intermediaries where is not needed.