Funding to blockchain companies doubled between 2017 and 2020, and actual spending is expected to reach $16 billion by 2023. While the most visible changes thus far have been in the financial sector — from crowdfunding overhauls to decentralized finance (DeFi) apps impacting loans and credit, insurance and asset trading — and infrastructure and security, blockchain’s gaining popularity is set to have a lasting impact on the entertainment industry.
From the way content is produced, aggregated, distributed and consumed to the relationship between content creators and their audience, blockchain technology could have a direct impact on entertainment for years to come.
Blockchain’s Potential Impact on the Entertainment Industry
The decentralization of global infrastructure is already underway. We’re seeing the impact in finance, and now entertainment executives are starting to identify how it can impact their businesses. While not widely adopted, smart contracts, which are powered by the blockchain, could influence entertainment agreements, providing a secure alternative to traditional negotiations, ensuring reliable payment of creators, a more seamless way to work with the crew on global projects and eliminating the red tape that hampers many large projects.
Continue reading: https://www.rollingstone.com/culture-council/articles/blockchain-future-of-entertainment-1298876/
From the way content is produced, aggregated, distributed and consumed to the relationship between content creators and their audience, blockchain technology could have a direct impact on entertainment for years to come.
Blockchain’s Potential Impact on the Entertainment Industry
The decentralization of global infrastructure is already underway. We’re seeing the impact in finance, and now entertainment executives are starting to identify how it can impact their businesses. While not widely adopted, smart contracts, which are powered by the blockchain, could influence entertainment agreements, providing a secure alternative to traditional negotiations, ensuring reliable payment of creators, a more seamless way to work with the crew on global projects and eliminating the red tape that hampers many large projects.
Continue reading: https://www.rollingstone.com/culture-council/articles/blockchain-future-of-entertainment-1298876/
