Make use of the Blockchain facility in the publishing industry
Blockchain is a huge database which is not owned by a particular person or company. You can also add your data to the Blockchain but the data once entered cannot be altered or deleted. When you wish to add data to the Blockchain, it has to be validated by various entities by performing complex calculations. These entities have to be paid for validating the process.
Blockchain is safe, cannot be damaged and does not require any human interference.
How is it useful to publishers?
Smart contracts which use Blockchain technology create indestructible data, which is authenticated by the total network. So, when somebody submits data, it will be verified, checked and the payment will be given to the contributor. This process can be added to anybody who contributes to the supply chain, like photographers, content writers, editors and suppliers of products to the publishers. It makes the payment process simple, and accounts are easy to maintain as total payment history can be viewed.
The Editorial department will be highly benefited as the data once entered cannot be deleted or removed. The editors can check the financial transactions and can come to know if anybody changes the content. As every entry is recorded, Blockchain has a history of every document.
Prevents Ad Fraud
Ad fraud or click fraud as it is known as a persistent problem in the online world. Fraudsters use various advanced technological methods and inflate the traffic to a particular website and claim charges for the high footfall. Many companies are now trying to use Blockchain to prevent this fraud, which causes huge revenue losses. By using Blockchain, a shared ledger is created to check the number of genuine impressions.
Data Destruction Process
A publisher, in normal circumstances, does not have the record of his data. With the increase in users by huge quantity, it is very difficult to trace the data if any compliance issue arises. By using Blockchain which has all the data of footprints, the publisher can destroy the data if any compliance standard arises.
Useful in preventing Piracy
Authors and publishers can avoid issues of piracy when the content is published using Blockchain. It will issue licensing of publication and usage rights to that particular author and publisher. The authors will be compensated if the readers are willing to pay according to the article.
Reduce the Cost of Producing Articles
Blockchain helps to store data at document space for real-time viewing and collaborating for all the parties involved. It will streamline the processes involved which would take a lot of time.
Digital Advertising Benefits
Advertising in digital media is beneficial for publishers as the volume of consumers is increasing every day. Blockchain by interacting with publishers has reduced the cost, consumers pay for the ads.
Implementing in 3-Dimensional Processes
There are lots of companies who deal with 3-D printing of risky objects. Using blockchain technology in these processes would help you in mitigating those risk factors, security challenges, adhering to the privacy policies, and lots more. There are companies such as Link3D who develop 3-D printing software to allow companies connecting to the digital media platforms and automate their processes and workflows.
These were some common areas where you can implement blockchain facility and prevent your organizations from any sorts of risks or breaches.