A blockchain can be used to to store a cryptographic “hash” of the original content file, associating it with the address – and, potentially, the identities – of the people involved in its creations.
The blockchain could also store the instructions, in the form of a smart contract, for how the content creators would be compensated for the song or music, and how the users can access it.
The innovative features that can be offered with the blockchain technology are:
- Convergence and multiplatform operation, which will simplify the interaction with content on any device, anywhere, anytime in a multiplatform scenario by using the blockchain ledgers to act as the sole reference repository of content identification and access.
- Personalised services, whereby user IDs, profiles, preferences and history will be present whenever needed by the users and for every media content that is created, consumed, shared, recommended or further analyzed.
- Sustainability of media content and services: both the blockchain technology and the virtual currencies can ensure a long lasting, scalable and disruptive revenue-based business model that can ensure the financial & technical sustainability of media and services.
- Incitement of participation and pluralism, since every user can be concurrently media creator, copyright owner, distributor and consumer with no further need of intermediaries.