The blockchain helps to securely establish the ownership and licensing of the world’s creative assets.
Nashville, Tennessee, June 19, 2017 — BTC Media announced today that it is partnering with Po.et — a new blockchain protocol that could rapidly accelerate solutions for the digital media industry. Solutions including proper attribution, longtail revenue for licensing, SEO liquidity, protection for freelance writers’ intellectual property and advertisers’ ability to gain accurate insights from their sponsored content.
The Bitcoin blockchain uses a distributed computing network to transfer the digital currency from computer to computer. The network is secured by “miners,” or computers that cryptographically verify those transactions, which are entered into a public ledger called the blockchain. A blockchain is simply a shared (distributed) database (history) where the database is updated and kept secure through some communal consensus algorithm. Po.et which stands for Proof of Existence 2.0 is inspired by Proof of Existence, the first nonfinancial use case of Bitcoin blockchain. Originally developed in 2013, Proof of Existence enabled users to register a digital proof of any document on the Bitcoin blockchain. BTC Media is the world’s largest Bitcoin-and blockchain-focused media company which includes Bitcoin Magazine , Distributed and yBitcoin . The media company believes the technology they have continued to develop insights around may also create transparency and trust among the content creators they employ and reduce risk of inaccurate attribution or create longtail revenue opportunities for that content.
“The digital media and publishing industry is rife with problems. It is impossible to tell who owns a given piece of content. Once you do, the licensing process is difficult, slow, and inefficient,” said David Bailey, CEO of BTC Media. “Bitcoin blockchains and distributed ledgers may enable the entire ecosystem to play well together by providing the ultimate ground truth of ownership — a timestamp or a ‘proof of existence’ that allows publishers to license the content, identify and monetize the freelance author’s work, and better support advertising attribution, thereby bringing forward an efficient, convenient and protected ecosystem.”
Po.et will provide BTC Media with the ability to timestamp and time-license their content in an unalterable system which will automatically issue digital ownership certificates in the form of a Badge integrated easily on any publishing platform. It will also enable SEO liquidity. Using Po.et BTC Media and other publishers will have a transparent price discovery tool to effectively “liquidate” their SEO value for some time interval. The Badge will also enable authentication of blog/news ownership, split equity and payment for the writers whose work they publish, and provide an individual profile management system for the writers they employ — ultimately building a digital fingerprint of the author’s history and preserving the writer’s journalistic portfolio.
“I’m excited BTC Media is spearheading this partnership. The nervous system of the publishing industry is the integrity of its works and one where the ecosystem is supportive of accurate authorship, attribution and monetization. Po.et brings this to BTC Media — a company that believes in the possibilities that blockchain technology can create in digital media, a burgeoning decentralized landscape.” said Greg Clayman, Advisor to Po.et, former Digital Media EVP at Viacom & News Corporation .
Po.et — Proof of Existence 2.0 is a Bitcoin blockchain protocol that establishes an open, universal, and immutable ledger for managing the unalterable ownership, attribution and licensing of creative digital assets. Po.et builds a bridge between creators and publishers and enables the discovery of new content and verification, authenticity, and authorization of generated content through a truly transparent and time stamped system of attribution. Po.et is based in Singapore and the United States, with offices in Nashville, Tennessee. For more information about Poet, please visit https://po.et/.
Po.et — Proof of Existence 2.0 Pat@po.et