How Bitcoin Can Save Publishing
Sunday 06 October 2013
This excellent piece by Jonathan Stacke, of the equally excellent Genesis Block identifies a tangible benefit that bitcoin's micro-payment facility offers to online publishers right now.
Publishing has evolved drastically over the past two decades, proving to be one of the industries most disrupted by the advent and proliferation of the internet. Ever-lower barriers to entry for new participants have led to more competition for publishers, as well as more noise for consumers. The result has been a broad decline in publishing revenue and a user experience dominated by increasingly invasive advertising. Bitcoin, with it’s unique applicability for micropayments, may eventually be able to conquer this problem.
Historically, revenue generation for publications was straightforward. Publishers would sell individual copies or subscriptions to customers, as well as space in the publication to advertisers. With print media being near-impossible to directly duplicate and/or repackage in a timely manner, content producers were able to build strong relationships with customers, forced to deliver value for the price paid or risk losing the customer forever...
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