Blockchain Could Reshape the Arts Industry
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.