Newsworthy — Ascribe.io’s Founder: “Blockchain is going to hit the media industry hard, just like the Internet”

Lance Koonce
Feb 18, 2016 · 1 min read

Bruce Pon, co-founder of ascribe.io and the CEO of ascribe’s scalable blockchain project BigChainDB, published an article today laying out his thoughts on why media companies are not prepared for the changes that blockchain technology will bring to their industry and seem uninterested in trying to understand it, but ultimately could substantially benefit from embracing the new technology. In his words:

…the media companies are sleepwalking into this next technology maelstrom, without knowing what’s going to hit them. Just like with the Internet.

It’s probably a bit early to assume the majority of media companies will bury their heads in the sand as the blockchain maelstrom blows through, and I must assume that Mr. Pon hopes that’s not the case, given his effort in the same article to educate his readers on what the blockchain may enable. But the views of someone working furiously on projects in this space should not be taken lightly.

At a recent conference I attended, I was interested (but by no means surprised) to learn that many professionals in the financial industry who are now focused on potential applications for blockchain, first encountered the technology when working in threat assessment roles. New technologies often play this dual role of threatening existing norms while offering new models. Mr. Pon’s statements provide fair warning that those who think that this technology will have little impact on their businesses, or only view it as a threat, should take heed of history.

CreativeBlockchain

Musings on Distributed Applications for the Arts and Beyond

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store