Cryptocurrency has shaken the banking industry. There are still undiscovered solutions that cryptocurrency may solve. According to economists, cryptocurrency will have an upward trend for the next 10 years. The industries related to entertainment such as broadcasting should consider the benefits of adopting cryptocurrency in their organization while they have the chance.
Middlemen are responsible for making contacts and exposures for talents and content creators. They take a huge pay cut in the process while the people who did the work get a little pay. Cryptocurrency can disable this process by allowing artists to directly seek payment from companies that they work for. One example is a designer who works with online shops like lazada and zalora. She can now sell her designs directly and get paid through Cryptocurrency by royalties without the intervention of a middleman.
One of the problems that we are facing today in the digital age is authenticity. This probably the reason why we can’t get the same quality artists from van Gogh Museum Amsterdam. Piracy is hard to kill. Cryptocurrency may help on this aspect by establishing a distributor ledger. The ledger will contain the name of the author and the words of the content. It contains all the necessary information which could be used as sufficient proof against on a piracy case.
The banking system we follow today tried to fix the issues concerning international transactions. One of the factors is the currency. The conversion varies which affects the profit of the companies who are working on the international level. Cryptocurrency has no regulator which gives more power to the users. Sooner or later we will shop online using discounts using cryptocurrency as a mode of payment. If the entertainment industry will participate, they will save on banking fees and more.
Cryptocurrency has so many possibilities to offer. Those other possibilities are still unknown, they may be good or bad. But with all the advantages it has to offer, the broadcasting industry has so many reasons to take the risk.