Impact of Blockchain on the creative industries

Blockchain technology has been a game changer in various industries, including finance and healthcare. However, the technology’s potential is not limited to these sectors alone. The creative industry is one of the sectors that can significantly benefit from blockchain technology.

The blockchain’s ability to provide transparency, security, and traceability is particularly attractive to the creative industry, which has long struggled with issues such as pricing, remuneration, and transparency.

Let’s explore how does a blockchain work in the creative industry and the benefits it brings to artists, creators, and other stakeholders.

Redefining How Artists Remunerate With Smart Contracts

With blockchain technology, the creative industry can use smart contracts to manage digital rights and revenue sharing. It enables artists to receive fair compensation for their work and gives them more control over the terms of the content they generate. Blockchain-based smart contracts have the potential to replace traditional contracts that can be difficult to interpret and can leave some artists with little power over the terms of their content.

Tracking Creative Works And Demand For Dynamic Pricing

Blockchain’s public nature makes it possible to see and validate all of the transactions for creative work, including who accessed the work and how much revenue the work is generating. This transparency allows stakeholders to have a better sense of the overall value of the creative work being produced.

Tracking demand for creative content helps to make pricing more dynamic, and prices for creative content could fluctuate according to supply and demand. This would enable artists to control prices and can set prices themselves without the help of any complex web intermediaries.

Do you think incorporating blockchain technology into your business is worthwhile? Seek the finest blockchain development services from our experts at Blockchain Firm, who have more than 100 happy clients over the past 5 years of experience.

Micro Monetizing Creative Works For Better Pricing And Control

Using blockchain technology, snippets of creative works could be made available for a price. For instance, a few seconds of a song could be featured in a movie trailer. This records the precise components of the creative work. It also allows artists to have more control over their work and receive compensation for every use of their content.

Incentivizing Sharing Of Creative Works

Blockchain technology can also incentivize the sharing of creative works.

For example, the blockchain-based social media platform Steemit pays users for creating, curating, and commenting on content. This system encourages the creation of high-quality content and offers a way for artists to earn money from their work. Such a method provides artists with the greatest autonomy over their creations and the opportunity to receive remuneration for each instance of their work.

Closing Words

Thus blockchain technology has the potential to transform the creative industry by providing transparency, security, and traceability. By implementing blockchain, artists, and creators can receive fair compensation for their work, and pricing can be made more dynamic.

Are you looking for an expert team to assist in integrating blockchain into your business? Connect with Blockchain Firm, the leading blockchain development company in India and UAE.

Blockchain Firm’s ultimate goal is to deliver the right services to the right person at the right time. Then why not us? Give us a try and you will never regret your decision.

What is GEEK

Buddha Community

Blockchain Certification | Blockchain Training Course | Blockchain Council

In all the market sectors, Blockchain technology has contributed to the redesign. The improvements that were once impossible have been pushed forward. Blockchain is one of the leading innovations with the ability to influence the various sectors of the industry. It also has the ability to be one of the career-influencing innovations at the same time. We have seen an increasing inclination towards the certification of the Blockchain in recent years, and there are obvious reasons behind it. Blockchain has everything to offer, from good packages to its universal application and futuristic development. Let’s address the reasons why one should go for Blockchain certification.

5 advantages of certification by Blockchain:

1. Lucrative packages- Everyone who completes their education or upskills themselves wants to end up with a good bundle, not only is one assured of a good learning experience with Blockchain, but the packages are drool-worthy at the same time. A Blockchain developer’s average salary varies between $150,000 and $175,000 per annum. Comparatively, a software developer gets a $137,000 per year salary. For a Blockchain developer, the San Francisco Bay area provides the highest bundle, amounting to $162,288 per annum. There’s no point arguing that learning about Blockchain is a smart decision with such lucrative packages.

2. Growing industry- When you select any qualification course, it becomes important that you choose a growing segment or industry that promises potential in the future. You should anticipate all of these with Blockchain. The size of the blockchain market is expected to rise from USD 3.0 billion in 2020 to USD 39.7 billion by 2025. This will see an incredible 67.3 percent CAGR between 2020-2025. To help business processes, several businesses are outsourcing Blockchain technologies. This clearly demonstrates that there will be higher demand in the future for Blockchain developers and certified Blockchain professionals.

3. Universal application- One of the major reasons for the success of Blockchain is that it has a global application. It is not sector-specific. Blockchain usage cases are discovered by almost all market segments. In addition, other innovations such as AI, big data, data science and much more are also supported by Blockchain. It becomes easier to get into a suitable industry once you know about Blockchain.

**4. Work protection-**Surely you would like to invest in an ability that ensures job security. You had the same chance for Blockchain. Since this is the technology of the future, understanding that Blockchain can keep up with futuristic developments will help in a successful and safe job.

**5.**After a certain point of your professional life, you are expected to learn about new abilities that can help enhance your skills. Upskilling is paramount. Upskilling oneself has become the need for the hour, and choosing a path that holds a lot of potential for the future is the best way to do this. For all computer geeks and others who want to gain awareness of emerging technology, Blockchain is a good option.

Concluding thoughts- opting for Blockchain certification is a successful career move with all these advantages. You will be able to find yourself in a safe and secured work profile once you have all the knowledge and information. Link for Blockchain certification programme with the Blockchain Council.

#blockchain certificate #blockchain training #blockchain certification #blockchain developers #blockchain #blockchain council

5 Blockchain Applications That Have Transformed the World of Technology

The blockchain is the decentralized database of the blocks of information, which gets recorded in the chain format and linked in a secured crypto graphical manner. This technology ensures proper safety of the data due to its secure nature, and it totally changes how people carry out transactions. It also brings about a faster and secure process of validating information needed to establish reliability.

Though blockchain technology came into the market to carry out only digital transactions, it is now used in various industries like supply chain, finance, health care, and many more.

The blockchain technology has made its position in mobile app development as well. Blockchain applications are transparent and accountable. From getting easy access to medical records and buying insurance, you can see blockchain applications everywhere.

Here are some of the areas where you can see the use of blockchain applications and how they have changed various industries.

1. Ripple

Ripple is useful for increasing banking transactions. The implementation of blockchain technology in the financial sector is much more profound than any other sector. Ripple proves this. It is one of the greatest tools to record and complete financial transactions.

It develops a large network despite strict physical boundaries. As there is no such third-party involvement present, the cost of these transactions is lower than usual. At the same time, the network also remains transparent and quite secured.

It is normally seen that financial transactions that happen globally are

error-prone and take a lot of time. In addition to this, when the transaction

fees and exchange rates get added up, the total cost usually gets high.

However, Ripple offers real-time international transactions without spending too much money. It has the network of about 200+ institutions making the process affordable, secure, and fast for all sorts of international transactions.

2. Etherisc

This blockchain application helps in automating flight insurance. Insurance is another area where blockchain is gaining popularity. Through this application, insurers can make smart contracts rather than getting involved in the traditional contracts that are usually complex. Etherisc is the blockchain application that helps customers buy flight insurance. If the flight gets canceled or delayed, they do not have to wait for months to get the payment back. This application ensures an on-time payout.

#blockchain #blockchain-technology #blockchain-development #blockchain-use-cases #blockchain-a #blockchain-technologies #technology #decentralization

Tracefood.io - A game changer for Food Supplychain

Blockchain for meat industry holds a promising potential in bringing up vibrant supply chains in the near future. Blockchain in pork industry ensures provenance in the pork value chains thus aiming to add abundant value. Blockchain solution for beef is undeniably a long-lasting remedy for the beef supply chains to cope exactly with the market demands.

Blockchain for beef business helps us track the cattle right from the pasture to the meat case.
Beef industry blockchain is one effectual means of optimizing the beef supply chains to bring up a positive transformation. Blockchain Technology in meat traceability works right away in bringing an ultimate range of sustainability for the meat supply chains.

#meat supply chain blockchain #blockchain technology for beef #blockchain in meat #blockchain for meat industry #blockchain in pork industry #blockchain solution for beef

Is the Mining Industry Ready for the Blockchain revolution?

Blockchain has become an overhyped buzzword without a standard definition. Almost any digital technology coupled with a few ‘magic’ words such as ‘smart contracts’ or ‘cryptography’ could pass as blockchain technology. The current environment thus encourages us to be cautious of blockchain marketing tricks and blockchain consultants, even those hiding behind the names of recognised global corporations.

Instead of investing in blockchain solutions, it might be wiser and more strategic to first invest in learning about the technology from reliable sources. When in doubt, it is always good to critically reflect on the key fundamental features that have made the technology distinctly innovative.

To get in depth knowledge on Microsoft business intelligence, enrich your skills on Blockchain online training professionals

Blockchain can be defined as a particular type of shared database: a ledger. Although not as futuristic sounding as artificial intelligence, robotics or the Internet of Things, ledgers – such as the Babylonian clay tablets or double entry bookkeeping – have allowed for significant civilisational advancements and were essential for the development of the modern capitalist economy (Yamey, 1964). Trusted institutions, such as governments, banks and auditing firms evolved in parallel with ledgers. These third-party central institutions are required for recording, verifying and storing information of high value, such as records of financial transactions exchanged among peers in a global digital economy.

Blockchain has changed thousands of years of history based on centralised ledgers. Blockchain allows for direct peer-to-peer transactions to be securely recorded in a ledger shared by a network of computers that does not require any trusted third parties for validation. Instead, individual transactions are directly recorded and cryptographically secured in a data storage unit, known as a block. The block of data is then validated by one of the winning computers that first solves a particular mathematical problem set by the network’s software. To solve the mathematical puzzle, the competing participants need to use valuable resources, such as computing power and electricity. This investment proves commitment and disincentivises cheating (the proof-of-work makes any misbehaviour economically unviable). At the same time, honest behaviour (correct block validation) is economically incentivised by a reward of the network’s native money. Once the block is validated, it is added to the longest chain of valid blocks (hence the name blockchain) and the ledger is automatically updated across the network of thousands of computers. This particular type of decentralised open public ledger has proven highly secure, immutable and resistant to censorship efforts.

‘To properly reflect the innovative and decentralised nature of blockchain technology, any true blockchain model would probably behave like the Bitcoin system.’ Learn more from blockchain online course

However, not all distributed ledgers are created equal. The simplified description of blockchain above refers to the ingenious open public Bitcoin system introduced anonymously by the person or group of people known as Satoshi Nakamoto (2008) Nakamoto’s intention was to create a decentralised system of electronic peerto-peer cash transactions that cannot be stopped by third parties such as banks and governments. A decade later, it looks like Nakamoto has not only achieved their goal but has also created the technological foundation known as ‘the internet of money’ (Antonopoulos, 2016).

The internet of money, blockchain solutions and industry
The Bitcoin system (of which bitcoin currency is an integral part) soon captured the imagination of code developers, entrepreneurs and established tech companies. They all seemed to have their own ideas about blockchains magically solving their business-specific issues, such as saving costs by removing intermediaries, streamlining transactional processes, verifying the provenance of goods in a supply chain and even curing cancer.

Most of the currently proposed blockchain solutions for the mining industry fall into this category (see Weiland, 2018). Vitalik Buterin (2014) was the first to address the innovative visions of decentralised autonomous enterprises by expanding on Nakamoto’s single-purpose innovation (decentralised money) and creating a general purpose open blockchain, called Ethereum. General purpose blockchains can, in theory, decentralise and automate everything and this makes them potentially attractive to enterprises, including those in the resources sector.

However, the open public nature of blockchain technology was generally not well received by businesses and governments, who preferred a more private and business friendly version. In response to the demand, dozens of private blockchains owned by corporations and consortia have since emerged and offered technology that is proprietary, regulated and controlled by trusted third parties. But wasn’t the original blockchain innovation all about avoiding trusted third parties? Good question.

Decentralised versus private models
It is likely that most of the blockchain solutions out there in the market have little to do with Nakamoto’s innovation, as Halaburda (2018) points out. The word ‘blockchain’ was never mentioned in the original Bitcoin publication. This is because blockchain is not a single piece of technology that could be extracted from the Bitcoin system and freely applied to a current business model.

To properly reflect the innovative and decentralised nature of blockchain technology, any true blockchain model would probably behave like the Bitcoin system. The open public Bitcoin blockchain is a complex system that entails a network of computers, open software constantly updated by dedicated developers, cryptography, game theory, economic incentive mechanisms and a community that is not governed by a central authority. Bitcoin does not have a CEO, headquarters or customer service. It is an autonomous decentralised system. It is a system that was not created to work for centralised institutions but to challenge them by giving more power to individuals. It is not a system that can be controlled by a single business or a consortium and regulated by any legislation. This is where the great divide of blockchains begins. Those who believe in unstoppable decentralised and autonomous organisations embrace the open public blockchains (arguably the only blockchains). Those who opt for a traditional business-friendly ledger that can be centrally controlled by select authorities and owned by a business or a consortium are likely to choose the so-called ‘private permissioned blockchains’. However, the name ‘blockchain’ in the latter case is fundamentally confusing; instead, the term ‘distributed ledger technology’ (DLT) is becoming more commonly accepted.

It would be an exaggeration to say that all private distributed ledgers have no value and their proponents are disingenuous actors. These solutions often exist as a result of technological and regulatory limitations. Furthermore, the main limiting factor seems to be the traditional business model based on proprietary values and organisational culture that knows no other forms of governance but centralised ones. A truly innovative blockchain solution is unlikely to achieve its full potential in such an environment.

Instead, the current enterprise blockchain innovations are rather incremental and still at the level of proof-of-concept rather than mass adoption. Their main intended value proposition is to save costs by offering cheaper ways of verifying transactions and replacing old intermediaries with new ones

However, if the governance model remains centralised, the same and even better cost saving effects can be achieved with current technology, namely relational databases, such as Oracle and MySQL, as noted by expert developers. Of course, relational databases do not have the same marketing appeal or buzz as the term ‘blockchain’. They do not sell to naïve investors or enterprises who are willing to pay premium dollar for having the latest technology, even if they don’t really understand it – or need it.

Preparing for the revolution
To prepare for the blockchain revolution properly, one needs to approach it from a broader interdisciplinary perspective and a longer-term viewpoint. This is not about buying the latest software and doing facade restructuring, supported by trendy buzzwords displayed ostentatiously on one’s website.
To get in-depth knowledge of this technology and to develop skills to make a great career in this regard one can opt for Blockchain online training Hyderabad

#blockchain online training #blockchain online course #blockchain training #blockchain course #blockchain online training hyderabad #blockchain online training india

Top 5 sectors that will be benefited by Blockchain

Here we discussed Blockchain technology potential and how it benefits leading industries in the future.

With the rapidly changing technology and business environments, it has become inevitable for businesses to be on their toes. Thus, data securing becomes an important aspect, and including Blockchain technology is a must. It can be used in various industries and sectors right from the government to private. Blockchain will form a digital ledger that will be used in recording all the transactions in secured blocks.

Read More: Top 5 sectors that will be benefited by Blockchain

#best blockchain development companies #blockchain adoption by various industries #blockchain solution provider #top blockchain developers #blockchain technology #top blockchain developers