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.
Blockchain Could Put Authors At Center of Publishing Universe
IBM 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.
Cannes films are being distributed on blockchain this year.
Six 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.