Mitigate piracy of digital content and achieve greater visibility across content creation and distribution lifecycle.
The media and entertainment industry is affected by the commoditization of content and ubiquitous piracy of intellectual property (IP). Today, media users have free access to digital content and most of them are hesitant to sign up for paid subscriptions for premium content. In addition, the industry is beset with co pyright infringements. The new consumption models and streaming subscriptions have contributed to only partial recovery of revenue leakage.All these inefficiencies make the media and entertainment industry an ideal use case for blockchain adoption. Blockchain in media and entertainment can help with decreased IP infringement, provide greater transparency into who owns the content, and enable monetization of copyrighted assets through smart contracts.
The implementation of blockchain in media and entertainment can bring a significant change in the industry by enabling the following:
Blockchain can eliminate the involvement of platform providers, content aggregators, and royalty collection associations significantly, thereby empowering the copyright owners.
Blockchain can decentralize the collection of payments and advertising revenues. Payment transactions become cost-efficient and revenue distribution can be automated using smart contracts.
The decentralized nature of blockchain contributes to greater transparency of provenance of any asset. In addition, it facilitates tracking the lifecycle of the asset.
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Blockchain is a type of digital ledger technology that makes transactions safe, open, and unchangeable. Businesses can profit from enhanced security, openness, and efficiency, among other things. Businesses may automate procedures, lower fraud, and mistakes, and boost consumer and partner confidence by embracing blockchain technology.
The intricacy of the project and the client's particular requirements can affect the length of time it takes to construct a blockchain solution. However, from the initial consultation through deployment, a blockchain project can often be finished in several weeks to several months.
Security is something we, at Code Elevator, take very seriously. We use a variety of techniques, such as secure coding procedures, exhaustive testing and auditing, continual monitoring, and maintenance, to guarantee the security of the blockchain solutions we provide. For our clients' greatest level of security, we also prioritise the usage of open-source software and follow industry best practises and standards.
Several variables, such as the project's complexity, the size of the development team, and the projected completion date, might affect the cost of implementing a blockchain solution. In order to comprehend their budget and create a cost-effective solution that satisfies their needs, we work closely with our clients. To guarantee that our clients have a clear idea of the cost of their blockchain development project, we also offer transparent pricing and thorough project estimations.