Blockchain and Media: How Bitcoin Latinum Can Optimize the Media and Entertainment Industry
As the Bitcoin Latinum community grows and the token nears its exchange launch, we are sure the community is wondering how the Bitcoin Latinum Foundation plans to increase market share and benefit the world with the groundbreaking enhancements of our blockchain and token. As the first in a series of four blog posts detailing how Latinum’s target markets are primed for blockchain adoption, this article will discuss how the Media and Entertainment (M&E) industry can utilize blockchain to optimize their distribution, remuneration, and transparency practices, and ultimately how Bitcoin Latinum is the solution to fill these emerging demands.
The next generation of media and entertainment relies on blockchain technology. As the digital age unfolds and the market as a whole achieves a greater understanding of the implications of blockchain to increase efficiency, cut costs, and automate practices, the M&E industry is on the verge of a major upgrade to barriers of entry that starts with blockchain. As M&E companies begin to incorporate blockchain, the barriers of entrance to market leadership will become significantly more competitive, leaving behind companies who fail to harness this cutting edge tech. While implementing blockchain will enhance numerous practices within M&E corporations, doing so will also further maximize profits and minimize costs as expensive intermediaries that create lag times are discontinued. Blockchain is primed to change the M&E industry forever.
For distribution, blockchain enables Media and Entertainment companies to distribute their media products via the blockchain to their consumers. With deployment of digital wallet addresses, these companies can release their products as a series of Non-Fungible Tokens (NFTs) on the blockchain, and can send these NFTs to the digital wallet of the consumer. The consumer will be able to prove ownership of the asset with the receipt of the transaction indefinitely engrained into a block on the blockchain. This permanent digital receipt helps make instances of piracy even more transparent if no receipt of digital ownership is found on chain. Blockchain makes the distribution of media assets a seamless effort that allows M&E companies to distribute and prove ownership of assets, while also removing costly third party distributors and limiting piracy risks.
In terms of remuneration for their products, M&E companies distributing their products on chain will also receive digital payment for their products as reciprocal. With smart contract capabilities on select blockchains, digital assets can be transacted for crypto reciprocals automatically, without the need for an intermediary to facilitate the transaction. Smart contract deployment is yet another game changing innovation that will allow M&E companies to cut costs and increase transactional and distribution efficiency.
Blockchain also implements greater transparency into cash flow. With a large advertisement reach, there is a stifling amount of operational intermediaries that get a cut of the check, as IBM reports only 38 to 46 cents out of every dollar spent actually is actually received by the media partner. With payments distributed over the blockchain, the permanent ledger feature gives M&E companies transparency into all recipients of advertisement costs.
Bitcoin Latinum is the missing puzzle piece for M&E companies on their quest to greater operational efficiency. Latinum’s 888,888,888 pre-mined tokens have larger block sizes and smaller block times, while consuming a small fraction of the energy that leading crypto blockchains require, making Latinum appear to be the digital asset of choice for M&E companies looking to upgrade their technology to next generation operational efficiency. Latinum is also engineered to become a decentralized finance (DeFi) hub with its smart contract capabilities. With DeFi enablement, Media and Entertainment companies can distribute their products and receive automatic payment on chain through smart contracts, saving time and money for producers and consumers of media assets.
For more insight on the incoming wave of demand for Latinum’s capabilities, please stay tuned for the next segment detailing Latinum’s benefits for the gaming community. For daily updates and news, be sure to follow us on our major social channels, linked at the bottom of our page.
