Solving problems of Content Trading Business by Blockchain Technology!
Have you ever thought about what happens when you buy or sell a product or a service through an agency or a distributor? Trading seems like a simple process of buying and selling goods and services, but it is quite a complex matter among holders, sellers and buyers.
In the past, the way from the holder to the buyer looked like a black box.
Nowadays, although the internet is so popular, some hidden parts make the right holders dissatisfied.
Here I would like to introduce the solution to the problems of the content trading business using Blockchain technology.
Potential problems in Content Trading
① Invisible transactions to the right holders
The flow of Content trading looks as below.
①Right Holder →② Agency →③ Buyer
Three parties participate in the process of content trading. The right holder gets money from the agency. However, the right holder cannot see the transaction from the agency to the buyer.
Moreover, it might be more complicated for the rights holder, because the transactions go through many agencies.
Therefore, it takes a lot of effort and resources to visualize transactions clearly, so this problem had been neglected.
② Too many right holders
As I introduced in point one, the problem of not seeing the transaction from the agency to the buyer is quite complicated, but the right holders have their problems as well.
Many right holders are involved in the same content.
For example, there might be a huge number of right holders involved in one film production process.
In such a case, the problem of how to pay royalty fees/rewards occurs, and right holders often complain.
Solving problems using Blockchain!
Blockchain can solve these problems because Blockchain is “a shared ledger that everyone can use”
Once transactions are recorded on the Blockchain, right holders, agencies and buyers can see contents of all transactions.
Therefore, Blockchain not only solves the abovementioned problems but also helps to avoid the confusion among the affiliate right holders. As a result, Blockchain will dramatically reduce the effort.
Besides, agencies can encrypt the value of the transaction that they do not want to show, so only the person with the key can see it.
You will have no problems with rights holders when publicizing specific information.
Our company (A.N Lab JSC,) in cooperation with Kyodo News Images Inc. made an investigation and a demo of the content trading using Blockchain technology and achieved certain results.
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