Blockchain technology may have first emerged with bitcoin but its significance extends far beyond the financial sector: it is ushering in a whole new techno-economic paradigm. This book provides the first critical, in-depth examination of blockchain's transformative impact on the creative industries, including music, media, art and gaming. Drawing on interviews with 10 leading start-ups and a comprehensive review of the literature, the author examines blockchain's impact on business models, addresses the barriers and risks, and concludes with policy recommendations that will help unlock value in the UK's creative economy.

Autorentext

Marcus O'Dair is Associate Professor in Music and Innovation at Middlesex University, UK, and convenor of the Blockchain for Creative Industries cluster. He is also an Associate Editor of the Frontiers in Blockchain journal and a contributor to the Blockchain Research Institute.

Inhalt

1 Introduction

Blockchain technology

The creative industries

Methodology

Conclusion

2 Blockchain: the internet of value  

From bitcoin to blockchain

Blockchain 2.0: smart contracts and DApps

Tokenonomics: blockchains and value Incorporative and radical applications

Conclusion

3 Opportunities for the creative industries

Ownership

Attribution

Distributed IP databases

Distributed ownership

Smart, transparent payments and licensing

Licensing

Royalty payments

Transparency

Increased control

Setting parameters for pricing and using creative works

Setting parameters for pricing and using tickets

New business models

Consumption data

Digital scarcity

Smart droit de suite payments
Tokens

Conclusion  

4 Barriers to adoption

Political

Economic

Social

Technological

Legal

Environmental

Conclusion

5 Risks of adoption

Political

Economic

Social

Technological

Legal

Environmental

Conclusion

6 Conclusion and recommendations   Reasons to act

Recommendations

Recommendation 1: Embed blockchain technology in the Industrial Strategy and creative industries 'sector deal'.

Recommendation 2: Establish a cross-sector, cross-departmental blockchain working group.

Recommendation 3: Publish clear guidelines on the treatment of cryptocurrencies and tokens

Recommendation 4: Establish blockchain innovation hubs around the UK.

Recommendation 5: Invest in the blockchain talent pipeline through schools and universities. Recommendation 6: Extend the FCA sandbox programme to include tokens and industries beyond fintech.

Recommendation 7: Consider how best to regulate cryptocurrency exchanges in the UK.

Recommendation 8: Take the lead in working towards global, multi-stakeholder blockchain governance. The future is distributed

Appendix: interview transcripts

Artos

Blokur Civil

CryptoKitties

FilmChain

GUTS JAAK

Maecenas Fine Art

Publica           

Verisart

Index