There’s a common belief that low overhead for a business means lower costs. Those savings are theoretically passed on to the customer in the form of lower prices. This concept is at the heart of blockchain’s potential for publishing, but there’s a hurdle.
The most prominent publishing stakeholders already wield significant influence over publishing’s future. Amazon, HarperCollins, Simon & Schuster, and Oxford University Press don’t need blockchain technology — they’ve done just fine without it.
But we’re talking about the future of publishing, not just a few individual publishers or distributors. Will these behemoths actively discourage blockchain technology because they believe it will hurt their competitive advantage? Or will they remain passive, or even (gasp!) facilitate its adoption?
Those exploring blockchain opportunities hope for cooperation from large publishers for the sake of authors and literature as a whole. If blockchain-powered platforms can lower the cost of independent publishing, it could be a new source of quality reading material at lower prices. With low overhead and cost-saving automation, blockchain opens the possibility of an entirely new self-publishing paradigm.
Regardless of the growth of such platforms, the future should continue to weed out viable projects from those that are merely empty hype. Funding runs out without a practical plan, and the next year should determine which projects have the most traction in publishing.
1. David Brierley, Founder of Howdoo
“We are at a crucial point in time when the current forms of publishing platforms are being tested by public opinion and are about to be bested by blockchain based competitors who are reacting and adapting more quickly and more innovatively to changes in demand. Projects such as Everipedia and Steem have led the way for the next generation of publishing platforms who are learning from their predecessors and adapting to today’s consumer needs.”
2. Rob Giometti, CTO of Sapien
“Blockchain technology will facilitate the decentralization of publishing, enabling any individual to contribute a publication and be fairly compensated for their efforts. The immutability of blockchain will create a reliable record of a publication’s activity over time. Ultimately, blockchain will enable the creation of incentive models to mitigate the propagation of fake news and fairly reward publishers for the value that they create.”
3. Richard Skidmore, Head of Business Development at Dot Blockchain Media
“I can see a gradual uptake in publisher adoption until we reach ‘critical mass' where we have key stakeholders on board. At that point, the rest of the industry will decide to jump onboard or build non BC solutions that can communicate with the Chain in some way. Skepticism is still rife out there but as theory is replaced by credible enterprise builds opinions will shift”
4. Arjun Mendhi, CEO at MTonomy
“The dust has settled, and tomorrow’s publishing giants are being built today. Blockchain-based systems that address critical challenges in publishing are quickly becoming fundamental to managing and distributing intellectual property of creators.”
5. David Turner, Head of Products for Po.et
6. Barbara Bickham, Founder of Trailyn Ventures, LLC
The blockchain would need to be faster in order for Video content to be more viable from an OTT perspective. The ability for content creators to own, distribute and monetize their content removing some of the middle men will be the future for many industries adopting the Blockchain.”
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