How blockchain and bitcoin are Revolutionizing Content Distribution

The potential for fraud is significant in content distribution, and tracking the Provenance of any given asset is a monumental task. You can check to get an automated trading experience by accessing the best-in-class trading bots and trading strategies. Blockchain and bitcoin offer a new paradigm for ownership that eliminates these issues.

Imagine a world where all assets are stored on an immutable, transparent ledger system which enables the distribution of content online to be instantaneous, borderless, and free from piracy or intellectual property infringement. The reality is that this dream is becoming a reality by way of blockchain technology and bitcoin.

Today, content distribution is still largely centralized in a handful of access points. People who sell content online or through traditional entertainment or news media channels are given a limited set of options for monetization: capture, pay-per-play or pay-per-view (PPV). Additional revenue streams like subscription, advertising and merchandise can also be leveraged but are challenging to obtain from the existing system.

Decentralization offers a third path that eliminates the conflict of interest between content creators and distributors: revenue sharing, which can be automated through smart contracts and trusted token-based systems. With blockchain and decentralizing content distribution, consumers can share the value of their consumed assets, aligning incentives.

Difference between centralization and decentralization ways of content distribution:

The difference between centralized and decentralized systems is that in a decentralized system, authority is distributed across many entities with all stakeholders being equal. Furthermore, the technology used to distribute these rewards (smart contract) is essentially the same as that used to distribute any other asset: blockchain and intelligent contracts play a vital role in ensuring that everyone involved in the process has equal ownership rights.

A World with Decentralized Distribution:

The world would be a much different place in this decentralization model. Any asset that is digitized and given a digital footprint can now be registered and tracked as it moves from one owner to another. 

An immutable and unbreakable record of ownership:

Any digital content can have its rights stored on the blockchain. This way, there will be an unchangeable and auditable record of ownership rights that can never be altered or broken. The process is essentially the same as transferring any other asset using blockchain technology but at a finer granularity (per file).

Content integrity and Provenance:

The immutable nature of the blockchain allows for content verification, custody & control. It means the blockchain is a verifiable ledger of ownership rights on the content.

Millennials, for example, are likelier to share content than any other generation due to how technology has changed their daily lives. With a decentralized system that eliminates conflict of interest typically associated with digital content distribution, millennials will continue to share and benefit from their digital assets until the last devices and connections burn out.

Fast delivery:

Peer-to-peer delivery across borders will be possible without borders due to blockchain technology and intelligent contract automation that removes currency barriers, law and national borders for files exchanged across the internet. 

Content monetization:

Smart contracts help remove the conflict of interest present in traditional content distribution by making possible automated revenue sharing with consumers. Furthermore, the projects have demonstrated why the decentralized project is necessary for the future of content distribution, as there is a need to have a network that ensures the security of content on the blockchain, removes censorship and ensures fair revenue distribution between consumers, content creators and distributors.

Global reach:

Any digital asset can be made available – either for free or a fee – to anyone connected to the internet. As a result, billions worldwide will have instant access to any content they choose, anytime, without restriction.

People can now get paid for producing and sharing their content online and reap the rewards from consuming and sharing other people’s work. Gone are the days when governments, corporations and third-party intermediaries dictate how we think about ownership of digital assets and what you can do with them. 

The blockchain will be the information layer of the innovative economy. It will be a global common that allows for cooperation and collaboration between individuals who, at their core, have similar values and interests. But, of course, this is not meant as an absolute statement but merely an observation of human nature.

The bigger picture

A new world with decentralized distribution offers a model for more equitable cultures in a distributed value system that puts consumers and producers back in the driver’s seat where they belong. There will be a massive wealth transfer as the value from the old order to the new decentralized economy. There will be many winners and losers, but the big picture is that a decentralized world is better for everyone. 

Without proper control and regulation, the internet has reigned into a culture of rampant piracy and intellectual property infringement that has been hurting digital content producers worldwide. Decentralized content distribution through blockchain technology re-aligns incentives by making it possible for producers to reward consumers and vice versa using smart contracts that automate this process. Consumers benefit by owning their data rather than having it stored on someone else’s server(s) and also benefited from sharing their personal information in exchange for rewards.