Blockchain is well-known for its ability to optimise data and streamline corporate process. However, it could actually be powerful in the creative sector.
There are already companies making movements towards implementing blockchain in creative careers: anything from intellectual property to putting creative content on the blockchain.
Secure content creation
A huge problem plagues the creative sector, and that’s intellectual rights.
Intellectual property rights ensure that you own your own content, and control how it is used between different parties, such as sponsors. IP is not easily protected or managed. In fact, it is difficult to protect, and even harder to contest IP violations financially.
Blockchain would provide an avenue for content creators to secure their content, without doubt or contest, on the blockchain. These IP rights would be decentralised, as well as permanent, which means they’re accessible, tamper-proof and reliable.
Blockchain technology would allow creators to exercise more control over their own monetary income. Monetisation of content could become direct, rather than through larger corporations. Instead of having to be ‘paid’ through an intermediary, creators would receive the money direct.
Music, art, film and general content could provide a direct financial benefit to their creators. This would ensure that revenue goes to the creators and not to others who may involve themselves in the process or act as intermediaries.
This also means that people could have security in their earnings, and not dependent on the intermediary.
The ability of blockchain goes further than merely ensuring that the income goes to the right people. In fact, creative content itself can be put on the blockchain – and it could revolutionise the way we see creative production.
Decentralised marketplaces allow people to sell and trade anything from DApps and video games to commodities such as clothing or jewellery. In some marketplaces, customers can be paid in exchange for giving certain information to companies, instead of merely allowing them to take the data at no cost. This would give the customer autonomy over their data, while also allowing the vendor to use a variety of targeted personal information.
Blockchain could also allow movie and music creators to defend their work against piracy. It would ensure that only honest purchases are made, and it would allow owners to trace piracy through the blockchain to its source. While this would not inherently abolish piracy altogether, it would provide a solid defense against it for content creators.
Blockchain technology can do more than just store data and trade cryptocurrency. It excels in being permanent, decentralised and accessible. That’s why it will be perfectly suited for the future of the creative sector.
Our blockchain-enabled platform STAMP is versatile. It’s perfect for data management, supply chain and fuel tracking, but its potential is endless. To find out more, click here.