The media industry is ever-growing and inventive. This sector uses technology to build and allocate content, thereby catching the eyes of the audiences. Several ways are used in which the eyes of the audiences are caught. Such ways include music videos, blockbuster movies, and video games. It is quite likely that with innovation comes obstacles and the media sector faces them too. Digital infringement, faulty royalty distributions, deceptive content, and false data, to name just a few.
This is where the propagated ledger system blockchain arrives. This system has been mostly used in branding and rights management, and there are diverse applications for it. For beginners, the recorded circulation of music and movies lets actors be rewarded well, thereby maintaining the right data on streams and investments. The terror of fake news can profit from blockchain’s capability to authorise the ancestry of a story or evidence- where all clots collectively agree on one source of reality. Moreover, movies produced using blockchain technology such as No Postage Necessary open up the latest income channels through cryptocurrency payments. Blockchain technology is still developing, but it assures to bring about a boom in the media industry.
Mediachain
With assistance from blockchain technology, it automatically associates music to its creator, thereby providing background news about the music. This liberated, decentralised music information centre automatically provides information to the listener about the inventor, producer, and lyrics to provide a translucent listening experience. Mediachain is located in New York, NY. An organisation by the name of Spotify acquired Mediachain in the year 2017. The main aim behind conquering the organisation was to expand technology that better gives credit of music to correct holders and artists whose work goes live on the company’s platform.
Rebel AI
The blockchain of Rebel AI provides publisher recognition and tracks the amount spent on brands in media and advertising. The organisation’s patent-awaiting blockchain will organise recognition of a publisher over the creation of content, music, and advertising. At the same time, it will also advertise wallets that are responsible for handling media trading securely. Rebel AI partners with a contracting marketplace named NYIAX to ensure a translucent and appropriate supply chain in media contract trading. The company is located in Louisville, Colorado.
Fluz Fluz
The company Fluz Fluz connects blockchain with social media using its e-commerce platform. The organisation provides cashback for shopping at some of the world’s largest retail joints like Starbucks, Nike, Disney, and Uber. If you are a Flu Fluz user, you must invite your friends and colleagues to increase the cash backs. Growing your network and sharing the content is all you need to do. If you increase your social media connections, you are most likely to earn a reward of up to 8% on personal and network purchases.
The organisation is situated in New York, NY. If you are willing to shop online, then you are most likely to receive cashback options. You can either shop in-store or with Fluzpay, which happens to be a crypto-based pre-paid store balance card. If you are a member of the company and have grown your social media networks, you can earn 100x more cashback than other apps.
Steemit
Steemit is a decentralised social media site that gives a prize to its users to create content and interact with different users. At the same time, the site also uses STEEM tokens to incentivise socialisation within the community. Every time you connect with any of your contacts on the social media site or produce some new content, the organisation’s blockchain creates a document of it.
If you are an owner of STEEM tokens, you have more STEEM power, which helps them make decisions based on community dealings and reward allocations. The company originates from Austin in Texas. From June 2018, this organisation has nearly paid an amount of $60 million to the community members who are associated with the creation of content and have interacted with other members. Moreover, this social media site has also said that it has got 1 million users.
Civil
Civil is owned by a network of journalists who utilises blockchain to create clarity and trust. Using Civil’s network, journalists create newsrooms. With the help of these newsrooms, these journalists add and share the content produced by them. The blockchain technology used by the organisation ensures that all journalists have a total holding on their creation. The clarity of such ownership allows users to authorise the accuracy of the content, thereby eradicating fake news. The organisation is situated in New York, NY. Civil is home to a large number of renowned, independent, and native outlets of news responsible for producing content on the blockchain-backed site, which includes Block Club Chicago, the Colorado Sun, and FAQ NYC.
Dot Blockchain NYC
Dot Blockchain Media is responsible for managing rights for the music sector. Moreover, the organisation’s blockchain is responsible for keeping a permanent directory of artists, publishers, and label rights so that royalty payments can be distributed equally and within the right time. At the same time, this organisation offers blockchain solutions to artists to integrate lyrics for songs and operating rights with their music on online streaming services.
Upon watermarking a song, Dot Blockchain Media allows listeners to access a handful of background information while maintaining a record of the streaming payments to different artists. The organisation is based in New York, NY. In recent times, Dot Blockchain Media partnered with a company named Cardstack which happens to be a platform responsible for accumulating data from different sources, thereby bringing it under one roof. The organisations will operate on using blockchain to pay artists correctly.
Erna Clayton is a passionate writer who loves writing pieces on several topics. In her free time, she loves reading novels, traveling and attending conferences
