Blockchain Technology Solves Some Of The Biggest Key Challenges Faced By Media And Entertainment Companies

Blockchain Technology Solves Some Of The Biggest Key Challenges Faced By Media And Entertainment Companies

Share to Linkedin Blockchain technology has often been compared to the internet for its disruptive potential. Although blockchain was originally leveraged for financial transactions, it has quickly spread to just about every other sector—including the media and entertainment industries. DENVER, CO - FEBRUARY 18: Ethereum co-founder Vitalik Buterin speaks at ETHDenver on February 18, ... [+] 2022 in Denver, Colorado. ETHDenver is the largest and longest running Ethereum Blockchain event in the world with more than 15, 000 cryptocurrency devotees attending the weeklong meetup. (Photo by Michael Ciaglo/Getty Images) Over the past few years, we've seen media and entertainment companies begin to leverage blockchain technology to change how they develop and distribute content. Disney was a very early mover, developing a private blockchain platform all the way back in 2014 to make transactions more reliable and transparent. More recently media outlets including The New York Times NYT have announced that they are leveraging the blockchain to combat fake news. In March, TIME even released the first fully decentralized magazine available as an NFT on the blockchain. We are only just beginning to unlock the full potential of blockchain technology and there are several persistent challenges media and entertainment companies face