Blockchain Technology and the Revolution of the Publishing Industry

Blockchain is an enigmatic concept for many. What we do manage to gather is that this complex infrastructure opens the door for the new and improved business models which prioritize end-users and their needs. In the publishing industry, the aim is to explore to which extent can a decentralized platform benefit authors and let them take control over their creations.

Self-published and indie authors, in particular, appreciate the changes occurring in the industry. For the first time ever, they get the chance to be in the epicenter, while publishing companies step aside and let authors collect the profits.

However, this doesn’t mean publishers should fear that they will lose their position in the market. They, too, will recognize the rising opportunities intended to simplify their job.

We bet you’re still confused — allow us to explain the idea behind the entire blockchain-publishing symbiosis.

Self-publishing Era: The early years

Though we are only talking about the marriage of the two concepts for a few years now, the beginnings can be traced back to the end of the 20th century.

Namely, the first books in digital formats started appearing at the beginning of the 90s, while the first digital bookstore appeared in 1998. At this point, books could only be read on a computer screen, but authors still took advantage of the opportunity to appeal to a wider audience, patiently waiting for the mobile era.

In 2004, Sony launched its first eBook reader, and three years later so did Amazon. But what placed Amazon at the top of the market was its retail store which represented a new channel through which authors can deliver their work to the public.

Unresolved questions

Still, several challenges remained:

• A third party is still in control of the content — of the publishing process and specific terms of the agreement that often benefit the third party more than the creator of the work.
• Payments come late for authors, especially rising stars. Not only are publishing companies first in line to collect the profits, but building loyal readership also takes time, which means it can take months or even years before a writer scores some major sales.
• Author’s rights are still at risk because the widespread availability of an eBook increases the risk of utilizing pieces of content without the author’s knowledge.

These are just some of the three thickest branches of the problem tree — but the tree top is dense, as each of the listed issues produces several related ones.

Potential answers

The Alliance of Independent Authors (ALLi) focuses on addressing the existing challenges and presents blockchain as a viable solution. Posing as a voice of indie and self-published authors who are trying to make a statement in the literary world, the alliance started a Self-publishing 3.0 campaign through which they promote the benefits of digital technology and its impact on authors’ independence.

Scriptarnica’s intention, as well, was to deliver solutions that will contribute to the emerging revolution. Here are some of the main points we believe will be addressed and resolved with blockchain technologies.

Authorship rights and plagiarism

Blockchain can make an author the sole owner and profit-collector of their work. The main idea behind the technology is to establish a decentralized network; in the publishing industry, this means each content author is the main proprietor of their work. Rights holdings will be at disposal, without any central authority meddling. The source of content will be easily authenticated because the information about where, when, and who published the original material will be available.

Plagiarism will be prevented: owing to digital signatures embedded in an eBook, an author can ensure that no matter where their work or parts of it are copied to, they are still referenced. All digital content is time stamped and no matter how many hands an electronic book goes through, it will still be possible to trace it back to the original author. All this is possible due to blockchain’s unique architecture and its decentralized trusted timestamping service.

Probably the most notable project that fights against this unlawful practice is Po.et which focuses on delivering solutions to reference content and establish validated claims like authorship and ownership. The platform utilizes blockchain to embed unique fingerprints of all digital assets directly into the blockchain, thus leaving evidence of when and where a particular piece of content was first produced, and by whom. It relies on a one-way cryptographic function that prevents re-creation and cloning of the fingerprints.

CERTO, as well, relies on blockchain to verify content origin, be it video, picture, illustration, art brand, product, software, or any other digital asset. Registering the document on the blockchain deposit, this app enables you to get a hold of a certificate of authenticity, that way preventing misuse of content, forgeries, and copyright violations.

We are also seeing the appearance of blockchain-based projects intended to eradicate fake news. For instance, the team behind Imagjn is working on a solution that will “make reputation verifiable, and anonymity accountable”. Their reputation protocol enables both organizations and individuals to develop multiple reputations that will be traceable and verifiable. As such, content creators will not only be able to claim rights to their work, but will also be held accountable for everything they publish on the web.

And we believe this is only the beginning. In time more projects will emerge to fight for the protection of creative work and reputation, allowing content producers to claim their work, no matter who else obtains and manipulates it after it is published.

Content monetization

With intermediaries taking the larger portion of the earnings, rising authors are in a position where they cannot monetize their hard work. Unlike with Amazon where they reserve the right to adjust and change pricing as they please, Scriptarnica has a predefined formula that calculates the number of characters (calculating free and premium characters), which makes this pricing method highly transparent.

Furthermore, micropayments are cheap and fast, allowing users to purchase only parts of the eBook they want to. While users are granted only the sections they need, the fee they pay is directly transferred to the content owner. This greatly accelerates the earning process, as the author immediately receives the fee paid by the user who purchased (a part of) the content.

Ancillary project management

It is also important to note that direct sales are not the main and only source of revenue. In fact, authors and publishers benefit from the profit that comes from ancillary projects, translations, and fanfiction created in association with the original book. Blockchain enables easy copyright claim and the receival of their share of the royalties. Tracking process will be simplified, and transactions will not require any third-party permission but will be carried out automatically.

Stakeholders rights

At Scriptarnica, we also thought about all the side-work completed during the content writing process and after it is officially published. Aside from writers, other participants in the publishing process can be rewarded for the work they complete. Here’s where smart contracts come into play: they contain predefined rules and are designed to automatically assign revenue to stakeholders.

How it works on our platform: we allow writers to present parts of their work to the public while it is still in the production phase. Readers are allowed to comment and contribute with their feedback, receiving financial compensation in return. Those who decide to contribute by translating will receive their share of the deal, as well.

Payment security

Blockchain technology enables all transactions to be tracked, ensuring that everyone working on a piece of content receives their share of the pie. Reimbursement is automated with smart contracts which are programmed to carry out terms of agreement all project participants agree on.

Streamlined publishing process

For publishing companies, this means significant simplification of the publishing process. Partnering with a platform like Scriptarnica, they get a new, refined distribution channel where they can expand their audience network. Publishers also meet an army of talented editors, proofreaders, and translators who complete all activities that are performed prior and after a book is published.

Faster marketing and audience expansion

As we’ve already mentioned, Scriptarnica enables writers to share their unfinished work and ask other users for advice. Not only do they benefit from an objective feedback through which they better familiarize with their target readers, but this socialization also helps the author expand their following and build the reputation before they even officially become a published author.

Finally, this instant feedback facilitates the overall quality of content — an objective pair of eyes can point out flaws in narrative as well as grammar and lexis. Furthermore, the writer’s block is nipped in a bud, as through constructive criticism and editing of what is already written you get to build upon the existing content with ideas that help continue the storyline.

Conclusion

What needs to come of this movement is the right to receive reimbursement and appreciation for the work you completed. The book you produce becomes your international property and your living rests on it.

Nevertheless, the issue extends beyond the writer. Anyone included in the project, be it a publisher, translator, or a lector has earned their right to receive praise and compensation for their contribution.

The third-party causing lags in the system is eliminated and the process is hastened and more transparent. Blockchain is complex, but this sophistication is precisely what allows it to streamline all eBook publishing activities.

At this point, we gave you a sneak peek into what Scriptarnica can do to improve the state of the industry. Intrigued to find out more? If you’re ready to better understand the technology behind our idea, check out our website and whitepaper.

We’d also like to hear your opinion on this topic — your side of the story and experience you had with blockchain technologies. Please share your thoughts with us in the comment section and help us build upon the ideas we have for the future of the publishing industry — we promise to reference your contribution :)