Mediablocks Newsletter #2: Prediction: Private and Permissioned Blockchains adopted first

Mediablocks – a bi-weekly newsletter covering Blockchain and Media

Issue #2 • March 21, 2019

From Bloomen.io, EU co-funded research project. Visit us at http://www.bloomen.io
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Welcome to Mediablocks where we report how Blockchain can be used in media and content. Please forward to others who might be interested to subscribe. Thanks! https://tinyletter.com/Bloomen
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Update

Prediction: Private and permissioned Blockchains adopted first

  • Entirely open blockchains have a number of issues, one being the scalability. To properly write/record all transactions a certain time is needed. When thousands of transactions are line up a public blockchain might slow down.
  • Private or permissioned blockchains are an alternative. The latter allow for invitations of partners and users. As a result they have better performance.
  • First wave of adoption: For this reason “permissioned platforms” will be at the center of the first wave of blockchain adoption in the EU. This and other findings are published in a report from the EU Blockchain Obeservatory and Forum. 29 insightful pages, download is free. Download PDF

Project

Bloomen is preparing for the second EU review of the work done so far by the end of March. Significant work has been completed hin all use cases and the underlying technical work packages.

  • As a result Bloomen currently conducts first user tests, by presenting the demonstrators to potential users across a range of different occupation and interests
  • One observation: Many people say they “don’t know anything” about Blockchain and expect a very complex, technical presentation then. In case of Bloomen Photo many are surprised that the utility and the goal is much more in the foreground than the more complex underlying technology.

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Know-how

Know Your Customer: Identification with blockchain

Based on newly published articles we found in the past two weeks this newsletter will focus on KYC, the shorthand for “Know your customer”. While the term and the process are not new, blockchain technologies could help to simplify the process and even provide greater privacy and security to everyone involved.

Below are some recent examples how KYC could be implemented using blockchain technologies. They provide a sense of the goals and the range of approaches in different areas:

  • Why not just one identity? SoftBank, the Japanese telecom company, explores whether blockchain can help to end the highly fragmented process for authentication of customers. So far every company performs the process, resulting in many, many personal profiles scattered across multiple companies. SoftBank will work with a US startup called TBCASoft. The goal: That an individual has one, highly secured identity, which then could be shared, when needed. Coindesk
  • Company Identity: The US state of Delaware is traditionally a place to register US national and international companies. Authorities are now thinking about a new company register, which would then be based on a blockchain. This then could result in much better tracking of changes of ownership, location, finances – in short: lead to a more accurate company register. Computerworld
  • Identity in 60 seconds: Reykjavik plans a project with another startup called Authenteq, based in Berlin. This company has developed a 60 second identity verification process. By performing a scan and without a password a user can verify. Further users can own and control a so called eID, to give them control of key data about themselves. EU Startups.com Authenteq
  • KYC in Bloomen? KYC is of course part of the research being done in the Bloomen project.
    • For example, in Bloomen Photo, the current demonstrators foresee a module to let a newsroom first invite, then verify a photographer to prepare for exchange of photos and payments.
    • Most of these photographers will be known as professionals, so the verification is not starting at zero.
    • Furthermore the idea is very focused: To exchange photos as fast and as simple as possible, reducing contractual and other paperwork to a bare minimum. Furthermore to fairly pay the creators of the material in a simple process. At this time of development the module is very simple. But in the next iterations we will explore how to find a good model, which should then serve both sides.
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Media & Communication

Apple to launch paid subscription news: The company will extend the already existing “Apple News” app with a subscription option. Consumers would be charged 10 US-Dollars per month, to get  access to many high quality news sources. Based on reports the “Wall Street Journal” plans to joint, while other media brands will not be part of the bundle. Publishers have debated the terms to join: Apple would get half of the subscription revenue. Apple itself argues that by adding content media brands would reach out to millions of potential users. As reported by the New York Times publishers would have to give Apple unlimited access to all content they have. So, why do publishers consider the offer. Quote from an article on Recode: “And some publishers are happy to do it, because they think Apple will sign up many millions of people to the new service. And they’d rather have a smaller percentage of a bigger number than a bigger chunk of a smaller number.” New York Times Recode

New York Times and Blockchain: Could publishing single articles using blockchain change distribution and business models for news? The “New York Times” might want to find out. According to an article published on Coindesk the news company had a job posting, searching for a Blockchain expert. The posting though is by now unavailable. Coindesk

10 European blockchain startups: In search for areas of application a good overview about startups in a field can help. While there is no guarantee that these companies will be successful, they provide excellent guidance on areas of interest  for innovation. There is a wide range – from logistics to prediction markets to identity. Follow the link to read about 10 good examples. EU Startups
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Thanks for reading. In two weeks we will report the EU’s review of our project and next steps planned. Should you see relevant topics for blockchain& media, please be in touch. info@bloomen.io

Photo by André François McKenzie on Unsplash