• Agenda
    • What We Care About
    • Health Channel
    • Play & Learn Channel
    • Sustainability Channel
  • Network
    • Startups
    • National Partners
    • Investors
    • Partners
    • Speakers and Jury
  • Events
    • Event overview
    • BRIGHT
    • This is CBN
      • This is CBN SCIENCE
    • Summits
    • Creative Business Cup
  • Services
    • Advisory
    • Academy
    • Innovation Challenges
    • Library
  • About
    • Team
    • Board Members
    • Projects
    • Careers
    • Press Room
    • FAQ
    • Contact Us
  • BRIGHT
Sign in
Welcome!Log into your account
Forgot your password?
Create an account
Sign up
Welcome!Register for an account
A password will be e-mailed to you.
Password recovery
Recover your password
Search
  • Agenda
    • What We Care About
    • Health Channel
    • Play & Learn Channel
    • Sustainability Channel
  • Network
    • Startups
    • National Partners
    • Investors
    • Partners
    • Speakers and Jury
  • Events
    • Event overview
    • BRIGHT
    • This is CBN
      • This is CBN SCIENCE
    • Summits
    • Creative Business Cup
  • Services
    • Advisory
    • Academy
    • Innovation Challenges
    • Library
  • About
    • Team
    • Board Members
    • Projects
    • Careers
    • Press Room
    • FAQ
    • Contact Us
  • BRIGHT
Search

Newsletter

Community

  • Agenda
    • What We Care About
    • Health Channel
    • Play & Learn Channel
    • Sustainability Channel
  • Network
    • Startups
    • National Partners
    • Investors
    • Partners
    • Speakers and Jury
  • Events
    • Event overview
    • BRIGHT
    • This is CBN
      • This is CBN SCIENCE
    • Summits
    • Creative Business Cup
  • Services
    • Advisory
    • Academy
    • Innovation Challenges
    • Library
  • About
    • Team
    • Board Members
    • Projects
    • Careers
    • Press Room
    • FAQ
    • Contact Us
  • BRIGHT
Facebook
Instagram
Twitter
Home Deep Tech, Blockchain and AI Blockchain Blockchain and the cultural and creative industries

Blockchain and the cultural and creative industries

Disrupting the systems within the cultural and creative industries

By
admin
-
June 18, 2020

What is blockchain exactly?

You are probably familiar with blockchain as the underlying enabling technology which has been developed to support the well-known cryptocurrency Bitcoin. 
But in reality, blockchains have the possibility to reach far beyond their original intended purpose of financial transactions. 

Specifically, in connection to the creative industries, there is huge potential for blockchain to revolutionise the way artists work and get paid, ensuring their intellectual value can reach its full potential in a fair and less complicated way. Let’s break it down for you:

Essentially, blockchain is like one big, global spreadsheet, or database, which is distributed openly. Anyone can access what is going on, person to person, with no intermediary. It does not require any established institution to authenticate or settle transactions. This means that blockchains can record any structured information. It cannot be hacked, copied or manipulated. It goes without saying that in terms of financial services, this has revolutionised the way transactions are made, completely independent from central authorities, on a foundation of truth and trust.

Because blockchain is a decentralised system, it could ultimately be used in any context where an intermediary is needed.

Just like blockchain disrupted the way financial transactions have originally been managed institutionally, let’s say through big banks, credit card companies, etc., it could disrupt and completely redefine the intermediary between artists and their audiences.  

McKinsey has listed several important features of blockchain that could be used for the benefit of the creative economy, described in detail here and here. Especially the music industry has a lot of value to gain from disrupting the already existing system, in which the artists have almost no participation in the value they create. Originally managed by big labels and today distributed by big tech companies like Spotify and iTunes, it leaves artists with little revenue from what they create. Imagine if the new music industry became a distributed app on the blockchain, where artists could post their products onto same blockchain with a contract that specifies how it could be used – this way, the artists would get compensated directly for the value they create.

Of course, there are plenty of challenges and risks, particularly due to the fact that blockchain is still a very new technology – but just think about the potential it holds for disrupting the existing systems within the cultural and creative industries! 

The future of blockchain technology in connection to the cultural and creative industries will be discussed at our webinar Wednesday 17 June @ 9:00-10:00 CEST!

Take part in the discussion on how creatives can utilise the full potential of blockchain and learn from our experts: Antonia Folguera (Curator and communicator, Sónar), Jack Nikogosian (CEO, Aryze), Heidi Svane Pedersen (Head of Digital, Lifestyle & Design Cluster) & Amir Ghomi (founder, Unlimit Music). 
You can sign up for the webinar and read more right here.

Together we will examine how and why blockchain is the beginning of a new era of technology, as well as the many opportunities – but also challenges – blockchain poses for future development.

Share
Facebook
Twitter
Linkedin
Email
Print
    Previous articleThe world in lockdown: Creative industries to the rescue
    Next articleCreative Hub Switzerland
    admin

    RELATED ARTICLESMORE FROM AUTHOR

    HalGatewood - Energy - Unsplash

    Data Science for Learning Through Play

    Museums, Culture & Playful Learning

    Copenhagen as a sustainable destination

    Recent Articles

    Finland’s Creative Industries Roadmap: Why the Innovation Policy Approach works! –...

    February 22, 2021
    HalGatewood - Energy - Unsplash

    Data Science for Learning Through Play

    February 22, 2021

    Museums, Culture & Playful Learning

    February 17, 2021

    Copenhagen as a sustainable destination

    February 15, 2021
    Mohammad Saifullah - Slush - Unsplash

    Digital marketplaces for Play & Learn – The Nordics

    February 12, 2021

    Creative Business Network

    International House, Bella Center
    Center Boulevard 5, 1st floor
    DK-2300 Copenhagen S,
    Denmark

    Contact and Opening Hours

    About Us

    FAQ
    About
    Team
    Careers
    Privacy policy
    Good governance

    Follow Us

    Facebook
    Instagram
    LinkedIn
    Twitter

    Subscribe to our newsletter

    Subscribe here

    © Copyright - Creative Business Network, 2020

    X