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How will the Blockchain Transform Digital Media?

Basics Blockchain

As the blockchain keeps developing, more and more industries adopt its positive features, in a similar way that the Internet revolution changed different areas of everyone’s lives a few years ago. Digital media needs to be the one of the first to make progress.

Nevertheless, not all decentralized networks can follow the same methods in order to evolve. Some have to start from the beginning and others can continue to develop their already existing services. For example, making an assigned platform that serves engineers who build decentralized applications is completely different than making a decentralized digital media network that serves members not related to technology. They will have to develop from completely different perspectives.

Digital media is built on creating content and personal influence. In order for it to prosper and develop well, network effects are required, as well as a large number of people who take part. In order for a digital media to be established over others, it needs to:

–        Come up with something new and revolutionary for its users but also hard to copy by competitors.

–        Be accessible to most users.

A completely decentralized media network, which is easy to use, might be something that the world is not ready to take yet. Decentralization and tokenization offer a clear value proposition and that is the challenge in this case. Most probably, a decentralized media ecosystem will grow from an already existing group of experienced people who will be concentrated on this idea.

In order to make a blockchain decentralized digital media network the following are required:

–        It must be useful and beneficial for new users, as the already existing media networks block healthy competition.  Cryptoeconomic business models offer a financial benefit and support for all network users. This gives a strong motive for new users to take part before it even becomes popular to the mass. The problem in the past networks was the tendency to give value to new participants only after it reached a critical level of users.

–        Users that buy tokens on Token Distribution Events are not the type of users that operate digital media systems. It would be interesting for creators of digital media and community members to start earning tokens as this would stabilize in a way the token holder network.

–        A normal use of tokens; adding tokens in digital media, needs a natural way to be put into effect in order not to confuse users. At the moment, digital economies that already have a micro transaction history are appropriate for adding tokens.

–        No necessity for users to know about blockchain or crypto; in order to succeed with the public, the system needs to break the gap between the blockchain and the conventional users. Coinbase is a platform that has succeeded in this. In the cryptocurrency industry, it is not easy to make a product that is friendly to the masses. But if you have an experienced big company that focuses on the product and allows open-source code to be used by international developers, then it’s meant to succeed. Filecoin and PROPS follow that exact line.

–        Focusing on the worthiness of decentralization virtuousness; In order for decentralized digital media to operate as well as the centralized applications, one must understand that it is a difficult and long-term accomplishment which requires constant improvements in its basic structure. Examples of such efforts are operation in IOS or Android applications, high-demanding video streaming, large amounts of micro transactions. Redesigning digital media needs a realistic and moderate method to reach decentralization. This viewpoint will help to build applications available to everyone, easy to use and on any device, in a decentralized and tokenized digital media environment.

–        A new user experience and fantastic features; Facebook, Instagram and YouTube have all become huge. Creating something unique that no one has already done is a necessity in order to develop in digital media. Snapchat became popular from the disappearing messages and stories; YouNow featured making live mobile videos; made it possible to lip-sync and discover music.  At the moment, the video is the most possible to get a new innovation around it because it has become the most powerful form of media in our devices.