The apps, books, movies, music, TV shows, and art are inspiring our some of the most creative people in business this month The struggles and triumphs of prominent women in leadership positions The major tech ecosystems that battle for our attention and dollars What’s next for hardware, software, and services Our annual guide to the businesses that matter the most Leaders who are shaping the future of business in creative ways New workplaces, new food sources, new medicine–even an entirely new economic system Celebrating the best ideas in business An award-winning team of journalists, designers, and videographers who tell brand stories through Fast Company’s distinctive lens Since blockchain blipped onto the public’s radar in 2008, it’s been met with equal parts skepticism and fanaticism. For some, it’s that shadowy thing that has to do with cryptocurrency.
For others, it’s a possible game changer for how business can (and maybe should) operate. The possibilities of what blockchain can do–and what it’s already done–in the entertainment industry kicked off a panel discussion at the Tribeca Film Festival earlier this week.
As Daniel Hyman, VP of entertainment finance and development at SingularDTV, defined it during the panel, blockchain is a method of decentralized information sharing. In other words, there’s no one gatekeeper to a particular blockchain and whatever transactions occur within it are immutable.
What happens in a blockchain stays in a blockchain for all participants to see. That can play into the entertainment industry in numerous ways, mainly crowdfunding, ledgers for record keeping, and smart contracts (agreements implemented through blockchain that cut out intermediaries and their fees).
Back in 2017, Mitzi Peirone became the first director to successfully finance a film through cryptocurrency, which is based on blockchain technology. But it wasn’t like normal crowdfunding that’s donation-based. Read more from fastcompany.com…
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