Categories: Ethereum

Ethereum Co-Founder Joseph Lubin: Blockchain Can Benefit Artists, Journalists

Click here to view original web page at cointelegraph.com

Ethereum co-founder and ConsenSys creator Joseph Lubin said that blockchain technology and decentralization can benefit content creators and journalists. Lubin spoke about different industries that are benefitting from blockchain technology in a video on March 12.

In the video, Lubin said that artists are “set to benefit quite dramatically” from blockchain, as it allows them to attach policies and stipulations for how the content is consumed and shared i.e. derivative works, streaming, public performances, etc. In Lubin’s view, it also allows them to eliminate middlemen:

“I think artists in the music industry on average capture about 11 or 12 percent of the value in the industry and those big record companies are sucking up 70 or so percent. We can replace those record companies with smart contracts on the Ethereum platform.”

Lubin continued that, while there will still be intermediaries such as promoters, they will not be able to “get to a commanding position where they’re extracting enormous rents just because of their intermediary role.”

In regard to journalism, Lubin said that blockchain-driven platforms like Civil could help the “gutted” journalism industry to deliver content directly to the consumer and “return ethics to journalism.” Lubin said that a platform like Civil allows newsrooms to form a code of ethics and stake that security bond on the platform:

“If they break that pledge in some way, their readership, their listenership can call them to task, can challenge their stake and potentially have them bumped off the platform.”

Earlier this month, Civil announced its official launch, despite a lackluster initial coin offering last year. The platform — which aims to provide an alternative business model to the journalism industry — now allows participants to purchase Civil membership, including CVL tokens which will represent members’ voting power within the Civil ecosystem.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Bitcoin {BTC} founder Satoshi Nakamoto will allegedly disclose his identity; Charlie Lee rejoices with regards to Bakkt launch

Satoshi Nakamoto was the man behind Bitcoin. His personal identity has remained secret for over a decade. Some believe that… Read More

2 hours ago

Crypto Community Reacts to Bakkt But Not all Are Bullish

The news that regulatory approval has finally been granted to Bakkt has generally been perceived as bullish for the industry.… Read More

2 hours ago

Bitcoin is not behaving like a safe-haven asset, says Ikigai founder Travis Kling

Kling doubts whether Bitcoin is ready to assume safe-haven responsibilities like its peers such as gold. Kling did note Bitcoin’s… Read More

2 hours ago

Istanbul Hard Fork: Ethereum Devs Agree to Make Six Different Code Changes

The developers of Ethereum (ETH), the world’s largest platform for building decentralized applications (dApps), have finalized six different codebase modifications… Read More

2 hours ago

Blockchain Voting System in Moscow Municipal Elections Vulnerable to Hacking: Research Report

A recent research report by a French cryptographer demonstrates that a blockchain voting framework utilized in Moscow’s municipal elections is… Read More

2 hours ago

What Would It Take To Build A World Without Globalists?

Authored by Brandon Smith via Alt-Market.com, You can bet that whenever you find people analyzing the root of a problem… Read More

8 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More