HBR publishes an article regarding yet another use case for blockchain. There is a very long supply chain in the cultural industries between the creators of movies, art, and music and those who consume them. Each middlemen takes a cut of the creator’s revenue, leaving artists with a lot less than they deserve. However, blockchain could provide an ecosystem where artists’ creations could be stored and moved securely and privately, eliminating the need for intermediaries. Zach LeBeau, CEO of SingularDTV, a blockchain-based distribution platform, details the advantages of this novel system including:
- inclusive revnues
- transparent ledgers
- digital rights management
- piracy protection
- reputation systems
See how this novel system could completely transform the arts industry here.
In this day and age, large companies are able to access and store huge volumes of our personal data. However, many of these databases are not secure and have had problems with leaks in the past. Additionally, countries across the world struggle with protecting a national identity system. Learn how highly secure blockchain technology could combat these issues here.
This May, West Virginia allowed overseas residents to vote using mobile blockchain technology to make voting easier and more efficient. The traditional method involves mailing ballots overseas, but states have faced difficulties in the past. With this new system, voters cast their votes through a secure and real time app and West Virginia plans to continue the pilot into the general election. Although the technology appears to be promising learn why it does not provide a national solution here.
In the arena of capital markets where large sums of money, hundreds of shareholders, and intense coordination are involved, blockchain appears as the perfect candidate for facilitating transactions. JPMorgan has been developing a prototype for a blockchain-based platform to use in capital markets, where investors buy and sell securities. Get the story here!
In the health-care industry there is a long supply chain drugs pass through as they move from the maker to the patient. The FDA is ramping up regulations to ensure that the drugs received by patients have not been tampered with along the way. Blockchain seems a natural fit to help with these efforts and professionals discuss how this database could assist here.
JetBlue, an American low cost airline, sees the value in using innovative blockchain technology to improve its travel offerings and to accelerate the transaction process. JetBlue Technology Ventures, located in the Silicon Valley, has begun investing in a number of blockchain startups that will hopefully take off. One of these startups is called Flyr, a company which uses algorithms and machine-learning to potentially offer travel bundles which would include flights, hotels, and excursions. These startups have the potential to transform the airline industry and JetBlue is taking full advantage of this cutting-edge technology. Read more here.
One of the biggest issues advertising giants face in this day and age is advertisement transparency. There is a long chain of suppliers between the digital ad and the consumer and it is particularly hard for companies to know if their ad had any influence on a real person. Ad fraud is pervasive, but blockchain could help with this.
Because blockchain is a secure, data-driven technology, it will be able to monitor the ad delivery to ensure that a real consumer saw the advertisement. This will allow marketers to have tighter control over their marketing efforts and allow them to better understand consumer preferences. HBR explains how blockchain will change the face of digital advertisement with this article.