Putting blockchain to work in media

What use case is there for a giant global spreadsheet capable of running on millions of computers? One that can secure a rights holder’s IP stake and can confirm who gets paid for what and when without relying on a central authority such as a bank, a rights intermediary or a broadcaster.

The same distributed database can then automatically make and keep track of these transactions, creating a ledger that is impossible to tamper with - making it perfect for generating smart contracts.

For those involved in monetising content, the tangible benefit of such a technology will immediately be clear. But the mere mention its name, blockchain, will cause some to run for the hills, particularly following the wild speculation and gyrations in price in cryptocurrency Bitcoin over the past year.

Because blockchain is a…