Joseph Lubin told how blockchain technologies will help artists and journalists
One of the creators of the (ETH) and the founder of ConsenSys, Joseph Lubin, told how blockchain technologies will help the development of modern art and journalism.
In a video posted on YouTube, Lubin said that, for example, artists will be able to publish information about their works through blockchain platforms and sell them without the involvement of intermediaries. The same applies to other artists.
Founder of ConsenSys said:
- “I think that artists in the music industry, on average, deduct up to 70% of the cost of their production to record companies. We can replace these record labels with smart contracts on the ETH platform.”
The institution of intermediaries, of course, will not disappear completely even after the blockchain is introduced into the sphere of culture and mass media, but its influence will be minimized, and it will have practically no effect on the work of artists.
As for journalism, Lubin said that thanks to blockchain technologies, any media can deliver news content directly to the consumer. Direct contact of news resources and consumers of information will contribute to the emergence of the so-called journalistic ethics of the new generation.
If the media provides low-quality or uninteresting information, it will only lose the audience. Competition between news resources will increase, which will positively affect the quality of the work of journalists, says Lyubin.
Joseph Lubin himself has repeatedly stated that at he does not care about the current rate of the ETH coin since his task is to develop blockchain technologies, and not to trade in a digital asset.