Block Chain for Publishers

Block Chain for Publishers

-Dr. Lalit Kumar Setia*

When I was doing my graduation in the year 2002, there was a software generally used to frame the projects i.e. Dbase III plus. Then Foxpro Dbase came and replaced that software. Thereafter MS-Access came and replaced the same. Sh. Santoshi Nakamoto wrote a white paper on how to apply blockchain in cryptocurrencies like Bitcoin, and make virtual currencies work without the central banks**. Now-a-days, the database can be shared through clouds and it made possible to create a chain of data. A block-chain is basically a database which is shared across a network of computers. The users can add data in the shared database and due to this feature, the blockchain has become a tool for various applications including Bitcoin cryptocurrency, Amazon selling portal etc.
It is blockchain which allows to perform transactions, record them, and circulate among the stakeholders. The blocks of blockchain stores the place, time, and value of the transaction and the blocks are linked to unique 'digital signature' of the buyer and seller. Suppose a buyer purchases bitcoins by using debit card and verifies the transaction electronically by providing One Time Password (OTP). During the transaction, the buyer pays money to the Bitcoin exchange. The money is kept in digital wallet in form of bitcoins. 

Block Chain for Amazon and Bitcoin:

In the era of Bitcoin, Amazon, and other virtual success stories; imagination of block chain for publishers cannot remain a dream. Bitcoin provides channel to exchange money, Amazon provides channel to buy and sell commodities, and Publica provides channel for direct transactions among authors and readers.

Digital Keys in Publishing:

The use of digital keys in trade transformed the life-styles around the world. The reach to any market or a group of people relating to a specific interest; has become a big issue for sellers and service providers. The data-scientists are coming in each area to use block chain technology for the easiness of sellers and service providers. The use of mobile and tablets made everyone to read e-books, e-newspapers by zooming the content with the help of fingers. Since readers are not preferring to read printed books, the publishers are also deciding to release the electronic version of their printed books. They have started to promote their books by using blogs and advertising upon the related websites.

Publica and Smashwords as New Block Chains:

In publisher’s zone, there are various choices to authors now-a-days i.e. Amazon’s kindle, Publica, Smashwords, Kobo, Harper Collins etc. to get their ebooks published and sold through online platforms.

The considerable point is that these channels are supporting authors with providing channels to approach readers of their interest, with minimum cost. Due to such networks, there are plenty of book available free of cost to the readers. The editing and proofreading of the written content is not a problem, now-a-days. Leading the block-chain community, Josef Merc, the Chief Executive Officer of Publica; provided first protocol for decentralized publishing.

Publica : The future of Publishers and Readers:

The Publica protocol uses a currency known as Pepples (PBL, ERC20 token). For the purpose of buying or selling over the Publica network, one has to use Pebbles or PBL tokens. For example, if somebody wants to access key to a literary work published through Publica; he has to pay in PBL tokens and even the supply of PBLs is fixed and locked. One can access the Publica software by retrieving the webpage at https://publica.io/ and enter as author to sell his writings. 
*Copyright © 2018, Dr. Lalit Kumar
References:
**This information has been retrieved from "What are the advantages blockchain offers?" written by Jocob Koshy published in 'The Hindu' dated 21st July, 2019, Pg. 14