[Opening Up] Blockchain Trends, Risks and Opportunities for the Media

babeltop (37)in #journalism • 7 years ago (edited)

I am about to disclose the presentation that I gave at an event yesterday.

Although weak in substance, it deals with the philosophy that I have on how blockchain technology and the media should be integrated and develop in the future. For those interested in the lecture that I gave, please don’t hesitate to contact.

I’ll be posting the Declaration of ‘Ring Media’, the genuine blockchain media network mentioned in the presentation shortly afterward.

Blockchain Trends,

Risks and Opportunities for the Media

Seung-eun Myung

Issuer of MJCoin
Representative of Venturesquare
Adjunct Professor, Department of Media Communications, Kyunghee Cyber University
Author of <Media 2.0>, Co-author of <The 4th Industrial Revolution and FutureNomics>

An Experiment for Blockchain Media

CIVIL: P2P subscription-based News service
· Issue CVL, an Ethereum-based, ERC 20 Token
· Those who read articles written by editors can edit the articles
· The record of issuance and modifications are kept on blockchains.
· Disadvantages: low rate of diffusion, doubts about scalability, incomplete decentralization
Continuing experiments with blockchain media such as SingularDTV, Nasdaq NIAE, Po.et, BitTeaser, etc.

The Historical Context of Communication Technology

From the development of pictures and characters, development of paper, invention of printing to the rotary printing press, from the discovery of radio waves and the development of broadcasting technology, from the internet to mobile…
Communication was born of ‘technology’ and changed by ‘technology.
In terms of ‘record’ and ‘distribution of trust’, blockchain is a type of communication technology.

The Value of the Computer (Value in Everyday Life)

The beginning of a simulacrum
· An icon of a trash bin was used to represent ‘delete’, a disk for ‘store’, and the Windows Operating System was originally based on the shape of a ‘window’ and not an ‘album’.
Calculation
Productivity
Systemicity

The Value of the Internet (Technological value)

The development of the simulacrum
· 1. Replica of the original 2. Destruction of connectivity with the original 3. An original which is not related to the original … a cycle
Dispersion
Network of networks
Stability
Regional scalability
Efficiency
Cost-effectiveness

The Value of Web 2.0 (Social value)

The proliferation of the simulacra
· Rearrangement of the original and the replica, the relationship in which the replica of the newly created becomes a better product, a different original which is connected to the original
Participation/social media, blog
Sharing/open-source
Open/API

The Value of the Mobile (Personal value)

Personalization of the simulacra
· Personal choice, whether to share an image with others or make it extremely private and personal
Personalization
Custom services
Network mobility

The Value of Blockchain (Political value)

Perfection of the simulacra
· Completeness of records, systemization of trust systems, possibility of the irreplaceable original, the return of P2P, reaction from internet fundamentalists
Decentralization (Power of the Administration)
Distributed ledger (Power of the Parliament)
Cryptocurrency (Power of Financial bodies)
Disintermediation (Power of the Media)
What is Blockchain Technology to the Media?
· Redefining the simulacrum
Finding the way to improve the conformity the real and the simulacrum
Why choose blockchain?
· Durability of records:
· Immutability of records:
· Fairness in profit distribution:
· Transparency in delegating authority:
· Variability in organizations:
· Accumulation and collection of value:
· Conformity with the purpose of a network:
· Possibility of integration with technology:

Looking at Blockchain from the Media’s Point of View

View Number 1 – Copyright

Retrieve the value of the original
Distinguish between risk and management, and fact and opinion
R&R between an organization and an individual, redesign the economic benefits
Transparency in sharing and distribution

View Number 2 – Journalism

Why anonymity was allowed, and media organizations were needed
Sustainable journalism should become vested in individuals
The power to decide whether to separate vocation from journalism or to combine
Cooperative systems should be made on a global level

View Number 3 – Creator

Rediscovering journalists
· No distinction between creators, curators, readers and journalists
Removing the power to control from journalists
· Liberation from the capital, expenses, forms, ideology, time and organizational control which imposed restrictions on content creation
From unpredictable rewards to predictable rewards
Copyright created during the course of performing one’s duties reserved for and for the use of the relevant individual

Reflection and Lessons Learnt from TNM Experience

Feeble profit model
Confusion in copyright management
Infrequent and irregular postings
Sense of affiliation felt by the participants
Weak organizational power and influence
Conflicts with laws and regulations
Low level of technical completeness
Being monitored and controlled by big competitors

Ring Media Project (The genuine blockchain media network)

Organization without an organization
· You only need banners and links to participate
· You have the option to go anonymous or pursue fame
· There are no restrictions in the type of contents
Transparent rewarding and trust relationships
· The ability to get initial assistance and utilize network effects
· The openness of Creative Commons License is supported
· Participation of the original creator of an article and a translator, group rewards
· Global scalability through decentralization