Blockchain as a service for media industry

We live in a world where massive software driven automatisation happens. This is a summarizing article on how blockchain technology could be used to automate business processes in media industry.

Challenge: automatisation of contracts

During interviews in Berlin and Latvia I found out several challenges media industry is facing. These are:

  1. Manual settlement and governance. There are lot of cases when business contracts settlement (calculations, invoicing, payments, copyright transfers, etc.) for media publishers involves manual work. We can find manual inputs in settling contracts with journalists, advertisers, magazine distributors, TV equipment renter, etc. Manual work increases costs and reduces profit margins.

Solution: blockchain as a service

I propose that blockchain as a service could be a good response to the automatization challenge. Here is the list of my requirements for a blockchain to become a good service for lenders.

  1. Permission based distributed ledger. The ledger would be created among all value chain of media publisher. It should be treated as a connector of IT system of different parties. This will increase visibility of value chain and will be a step towards interoperability.

I see the future where standard contracts are settled by technology. If you are eager to assess costs and benefits from using this solution, I am ready for an up to 45 min Skype talk or meeting you in person. You are welcome to send me email to sandris.murins@gmail.com.

Read my other articles on blockchain powered media industry:

How AI could help manage cash flows for media companies?

How to automate journalist contracts?

How to automate advertising contracts?

How to automate equipment rental contracts?

How to speed up payments from magazine sales?

Serial crypto startup builder & public speaker