It took me a while to get my head around blockchain, as there are so many complex explanations on how it works. Then I found something that sums it up well and a very neat video from The New York Times on cryptocurrency.
Blockchain changing content
According to Christoph Burgdorfer, Tech Director of This Place,
“Blockchain technology will enable creators of content to capture the value from each piece more efficiently. Examples of such concepts are Steem.io and yoyow.org where users earn value bearing tokens such as cryptocurrency for blog posts, social posts, comments and so on. This may encourage more people to get into content creation, which, if connected to marketing, provides potential to a vast array of new business models yet to be explored.”
There are already organisations popping up that are testing a new model. Take Socialmedia.market – online portal simplifying transactions between businesses and influencers.
How we consume and who we trust
Authenticity and quality
“In the simplest of descriptions, blockchain is powerful as it gives us a way to represent global truth. We can expect to see this used to trace the original source of media, ideas, and popular phraseology. This will increase the value of original content and reward quality and timeliness over strong distribution.”
*All persons interviewed in this post volunteered and were not paid.