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Blockchain

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Discussion document to frame discussion with content owners about approaching proof of concept uses for blockchain.

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Blockchain

  1. 1. Michael Cairns Managing Partner Information Media Partners Blockchain for Content “Proof of concept” discussion document
  2. 2. 2 Blockchain is not established technology Scale issues: Blockchain verification is slow ❖ Can only handle a relatively small number of transactions per hour ❖ Many blockchain applications are still niche ❖ Solvable but continuously improving problem similar to early HTTP ❖ Still a long way off scale Government & governance ❖ Law and regulations have not kept up ❖ Exists with most new technology but will improve over time ❖ Many influential governance and industry bodies exist to define and establish standards ❖ Long term benefit of blockchain is dependent on interoperability: collaboration is inevitable There are few “proof of concept” examples ❖ Rapid development and improvement across industries ❖ Issue is increasingly irrelevant There is no “Microsoft” ❖ Technical architecture remains ‘ad hoc’ and “wild, wild west” ❖ There are standards groups and associations ❖ Every large software application company is actively involved in blockchain development Publicity of Blockchain ❖ There is a lot of hype which can be hard to justify ❖ Real business cases for blockchain are critical and important ❖ Will there be the inevitable fall due to “irrational exuberance” similar to the ‘internet bubble’?
  3. 3. 3 The problem isn’t blockchain ▪ What clear business problem you are addressing? ❖ Is the problem material? ❖ Will the improvements improve operations/outcomes materially? ❖ Is the cost benefit positive (to support your time and investment)? ❖ Have you researched a broad range of possible solutions? ▪ Customers want to solve a problem not “use blockchain” ❖ Is blockchain uniquely able and/or the best approach? ❖ Is there sufficient scale to the solution? Is there a plan for getting there? ▪ Does this even make sense? ▪ What are your competitors doing?
  4. 4. 4 McKinsey report on blockchain https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/blockchain-beyond-the-hype-what-is-the-strategic-business- value
  5. 5. 5 Applications in publishing Workflow • ARTiFacts • Mediachain • Po.et • Content attribution for researchers registered on blockchain • Aid to discovery • Version controlling • Peer-to-peer content and data sharing • Document verification Contracts • Publica • DE Decent • Katalysis • LBRY • Blockai • Ascribe • Soundcloud • Peer-to-peer transactions • Open source distribution platform • B2C & C2C monetization and distribution • Multi-media content Micropayments • Blendle • Coinetize • Steem.io • Disaggregated content • Browser based “wallets” • Fractions of cent • Cryto-based solutions • Rewards program Database Publishing • Everipedia • GemOS • Authority control • Supply chain management • Product data • Unique identifiers • Credentialing • Rewards
  6. 6. 6 Applications for content and media ▪ Register and protect against copyright infringement ❖ Catalog and store original works of art, digital intellectual property, documents, manuscripts, images/photos ▪ Decentralized, non-proprietary blockchain enables content and IP users to find and use authorized content ❖ Blockchain built as a “trust network” ❖ Distributed network designed to eliminate bad actors ▪ Note: US infringement cases require official copyright office registration ❖ Blockchain isn’t ‘protection’ ❖ Blockchain provides public record of ownership ❖ Easier access to author/creator which US copyright office finds difficult ❖ Blockchain could eliminate ‘orphan work’ issue ▪ Once on blockchain it is there forever
  7. 7. 7 What problems does blockchain solve? ▪ Blockchain registry could offer/create tamper proof record of ownership ❖ In UK, copyright is unregistered exists on creation of the work ❖ Ownership hard prove and hard for licensees to determine person/entity to grant a license ❖ Owners risk infringement and limited monetization of their work ▪ Blockchain enables any party to see chain of ownership ❖ Licenses, sublicenses, assignments, etc. ❖ Blockai/Ascribe using blockchain in this way to make record of copyright ownership ▪ Facilitates ability to see where and how content is used ❖ Enables programmatic content control capability: search all web sources simultaneously ❖ Allows “use and payment” control. Are licensees using content as licensed? ❖ Significantly reduces mis-use/piracy: Potentially improves license revenue ❖ More usage data will enable more business models and experimentation: variable, demand based pricing ▪ Blockchain is in effect a “digital certificate” of ownership/authenticity ❖ Allows users to ID the official work of an author and tackle infringements ❖ Low cost of maintenance, increased transparency, lessened admin burden, resilience to fraud
  8. 8. 8 Micropayments & smart contracts ▪ Frequently difficult to ID the correct content owner ❖ Cumbersome and time consuming process ❖ Misinformation/ misappropriation of ownership ❖ Cost of infringement mitigates against use ▪ Resulting behavior ❖ Inappropriate use and piracy ❖ Non use/lost revenue ▪ Smart contracts: Terms ‘ride along’ with the content/IP ❖ Licenses are ‘self-executing’ on use of the content ❖ Makes it easy for users to do the right thing ❖ Blockchain with micropayments could make monetization very easy ❖ Enables enforcement of contract terms ❖ Micropayments (using bitcoin) eliminate ‘transaction costs’ of small value transactions ▪ Potential significant impact on collecting agencies if more artists choose to cut out intermediaries ❖ Imogen Heap album Tiny Mirrors released on blockchain incorporating the above solutions
  9. 9. 9 Blockchain in news and information ▪ Civil ❖ Blockchain based platform for content, newspaper and civic/purpose driven organizations ❖ Colorado Sun: community-supported, journalist-owned team focused on investigative, explanatory and narrative journalism ▪ Snip ❖ A distributed system wherein writers can offer snippets -- concise summaries of news articles -- and the public can choose the topics they want to read about, whether sports, technology, medicine, etc. ❖ Snip has built a verification and reward system wherein the writers can earn SnipCoin (Snip’s version of a cryptocurrency token) by writing excellent snippets. Advertisers can pay Snipcoin to increase visibility. Readers can tip writers with tokens and, if they choose, clear their feeds of advertisements for a small Snipcoin payment ▪ onG.social ❖ Created a social media dashboard that rewards real news with digital tokens (similar to cryptocurrency, think of these as rewards), given by users to other users who post the real news ❖ Cryptocurrency can then be exchanged for currency -- dollars, pounds, euros, etc. Users can realistically make money by curating and sharing real news and rejecting fake ones ▪ Baidu ❖ Totem uses a blockchain to timestamp submissions of each original photograph from a user with a real-name identity and store data associated with the images on a distributed network
  10. 10. 10 Solutions benefits summary ▪ Copyright and attribution ❖ Owner information imbedded in blockchain ❖ Enabled business model ❖ Protect & enhance revenue streams ▪ Reputation ❖ Establish a reputation network ❖ Trust ❖ Protect content ▪ Discovery ❖ Control and manage metadata ❖ Aid in censorship and restrictions
  11. 11. 11 Michael Cairns Managing Partner Michael.Cairns@InfoMediaPartners.com 908 938 4889

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