A publishing house run entirely on the blockchain.
A smart contract that sells a book, immediately calculates royalties, and sends the payment STRAIGHT to the wallets of the author, agent, and publisher — at the exact moment the sale is done.
No lag time. Full transparency. No miscalculation. No cheating. What happens on the blockchain, stays on the blockchain. Forever.
What this means is that a massive email-blast-powered sale pays off the DAY it is run. What this means is that no scammer will be able to take advantage of false positives and skew the graph for the honest readers and writers, if there is a common pool of funds to draw upon. What this means is the ease of choosing to be an affiliate for an author you like — and just like that, beginning to sell and promote their work, without fear of being eventually stiffed of your rightful earnings.
What it is also means is not having to pay accounting fees, legal fees, PayPal fees, wire fees — as one of the reasons blockchains came to be was specifically to cut down on transaction fees, even those with customers outside the country the book is originally published in.
Too good to be true?
We don’t think so. But we do certainly hope to find out.
After all, back in the day, the Gutenberg press also likely seemed waaaaay ahead of its times.
