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Applying Blockchain To Creative Industries

This PSFK research paper explores how advertising and media agencies are leveraging blockchain to improve transparency and transaction experiences. The brief provides insight and examples of ways that companies are using blockchain technology to verify content accuracy, ownership rights and proper and fair compensation.

Blockchain is being used to ensure transparency within the digital ad industry, particularly around the placement and analytics, by providing a distributed ledger of all transactions that can be validated in real time. The technology is also being used to move assets between peers without the assistance of intermediaries–thus streamlining the process and cleaning up the supply chain of digital assets.

Technology companies, publishers and media buyers are experimenting with marketplaces built on blockchain to create a higher level of transparency by cutting off bot traffic and protecting brands from misguided content.

Cryptocurrency-based crowdfunding allows users to participate and contribute to a specific cause with an additional layer of security and transparency.

Blockchain-based platforms are shifting the power paradigm that dominates social media and other digital content, enabling writers and other contributors to receive payment for their work without confining to payments or restrictions imposed by digital intermediaries.

By providing secure transactions, easy sharing and visibility, blockchain allows fans to gain direct access to their favorite artists—allowing them a direct channel to voice their opinion, interests and
passions in a symbiotic transaction that benefits the artist and their audience.

Published March 2018