book sales, publishing, self-publishing, Uncategorized, Writers Co-op

Blockchain Update

It’s like a big spreadsheet where an entry, once made, cannot be changed. The advantage is that no middleman, no clearing house, no central authority is required. (My explanation is admittedly like my understanding of blockchain technology: simple minded. It’s like looking straight up at a big wave. I can’t see much. But it is here.)

Books sold on a blockchain could be searchable by author, genre, popularity, etc. You could offer your book for sale in such a way that anyone could purchase it through PayPal.  No publisher or retailer is required. The transaction would be solely between you and the reader.

ALLiBlockchain Could Put Authors At Center of Publishing Universe

IBMIBM is currently selling blockchain packages (starting at $1,000/month) that could be used by a service to provide writers a way to sell their books. Cost per author would depend on how many subscribed to the service. Could be quite cheap & I’d expect the pricing to go down as the tech becomes common.

CannesCannes films are being distributed on blockchain this year.

astonishmentSix hours ago, CNBC reported that “HSBC says it’s made the world’s first trade finance transaction using blockchain.”

The news is coming in faster than I can type.


5 thoughts on “Blockchain Update

  1. mimispeike says:

    Interesting, GD, but you still have to get yourself noticed. How is this better than having a website and publicizing the site? Maybe I’m not getting it. This is a breakthrough?

    I’m still fighting the computer wars. My attention is going to that.

    Liked by 1 person

  2. victoracquista says:

    I think this has real potential, but the devil is in the details. I see this getting talked about more and more on author sites. Part of me wants to be an early adopter, but I think many of the attempts to have something that works well for independent authors are likely to fail. By the time it’s clear which efforts succeed, the window of opportunity to be an early adopter will have closed. I will continue to follow this blockchain revolution with interest.

    Liked by 1 person

  3. GD Deckard says:

    Mimi has pointed out the devil in the details. “You still have to get yourself noticed.” Readers go to Amazon to find books, so Amazon earns its percentage. On the other hand, how much notice do you actually get when your book is dumped into Amazon’s bin of eleventy million other books?

    It boils down to, what do I need to pay for? The only need is to be noticed. And I don’t see how that will work any better on a blockchain than it does on a website, be the website mine, or Amazon’s or ebay’s. But then, as Victor says, the blockchain revolution is not yet clear. And, it will be interesting.

    Liked by 2 people

  4. mimispeike says:

    I don’t go to Amazon to find books. I go to Amazon to buy books that I have found elsewhere. It is rare that I buy a book out of the ‘People who bought this also bought these’. It happened with Walter Mose and ‘City of Dreaming Books’. And Mose was recommended to me by someone at work.

    Liked by 1 person

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