Prospects of Block Chain in Media
The digital services and platforms as well as holographic screen and immersive journalism are not very popular terms among the media fraternity but these are already a reality. The transformation of TV and the main trends in the media industry were discussed at the third International Forum titled ‘Connected Future’ held in Moscow. Nearly 450 participants and over 200 companies took part in the forum. One of the main topics of the event is the effective monetization of content, which is not only related to videos but also cyber sports and video games. The use of block chain technology in the media industry was also discussed.
YEVGENIY SOLOMATIN, HEAD, ORGANIZING COMMITTEE, CONNECTED FUTURE FORUM IN RUSSIA:
- Block chain is used in many areas such as advertising, transaction, copyrights account and content distribution. The block chain technology is unnoticeable for consumers but it allows increasing transparency of the market.
This innovation is interesting primarily to advertisers and content producers who plan to introduce the audience to another promising area, paid video content.
GERASIM GADIYAN, GENERAL DIRECTOR, VINTERA.TV, RUSSIA:
- We are using the blockchain technology. There is an option where viewers can pay based on the time spent watching contents. By 2025, 75 per cent of all video and TV content will be in mobile format. The conference is held due this forecast. This is what the over-the-top (OTT) platform. Vintera.TV is doing. They have live TV channels and these can be accessed from all devices.
According to experts, this service will become relevant as early as next year due to technology development and rapid innovations in the media industry.