How Can Blockchain Impact the Entertainment Industry?
In our blog, we talk a lot about blockchain and its benefits for different industries. This time we want to discuss the entertainment sector and how blockchain can impact it. As you might know, blockchain is an innovative technology that can store large amounts of data. The ample storage is not the only advantage, blockchain is highly secure, so information on the system is uncompromisable. Besides its security benefits, this technology also has a significant level of transparency and immutable nature. All together, these features can revolutionize many areas in our lives. One of them is the entertainment industry.
Entertainment has been a significant part of our lives since ancient times. We can’t imagine living without music, movies, art, or television. However, as casual as the industry might seem, it takes much effort to make it as it right now. Artists, producers, and other stakeholders face many risks and disadvantages. Yet, most of them could be solved by implementing blockchain technology. In this article, we point out the major niches in the entertainment industry that could benefit from blockchain technology.
Entertainment and Blockchain
Movies — we watch movies almost every day. It became so easy to access visual content that we don’t even consider how it reaches us. Market giants like Netflix, Amazon, and HBO inspired the growth of mass production. That caused a disadvantage to artists and producers because they have to pay additional costs to satisfy the middleman. It didn’t take long for creatives to discover blockchain. So how could blockchain change an existing situation? The solution is simple — blockchain-based platforms. These platforms would allow sharing movies without any middleman involved. It would save much money and liberate the entertainment niche. Not to mention, it would inspire the broader distribution of films around the world which would make the industry more accessible.
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