WHAT IS BLOCKCHAIN: This short video by John Bond of Riverwinds Consulting discusses Blockchain and Publishing.
FIND OUT more about John Bond and his publishing consulting practice at www.RiverwindsConsulting.com
JOHN’S NEW BOOK is “Scholarly Publishing: A Primer”
To find out more about the book: https://www.booksbyjohnbond.com/about-scholarly-publishing
Buy it at Amazon:
http://amzn.to/2jqaLPp
SEND IDEAS for John to discuss on Publishing Defined. Email him at jbond@riverwindsconsulting.com or see http://www.PublishingDefined.com
CONNECT
Twitter: https://twitter.com/JohnHBond/
LinkedIn: https://www.linkedin.com/in/johnbondnj/
Google+: https://plus.google.com/u/0/113338584717955505192/
Goodreads: https://www.goodreads.com/user/show/51052703-john-bond/
YouTube: https://www.youtube.com/c/JohnBond/
TRANSCRIPTS
Hi there. I am John Bond from Riverwinds Consulting and this is Publishing Defined.
Today I am going to talk about bitcoin [BTC] and publishing. Without a doubt, bitcoin [BTC] is the trending term on the internet, in technology, in finance, and more recently, in publishing. It is also a little understood or misunderstood term, despite it being discussed so much. At its most essence, bitcoin [BTC] is a foundational technology that can, and will, lead to new and transformational business and/or operating models.
Here is bitcoin [BTC] at its most basic level: it is a continuously growing list of records, called blocks, which are securely linked to each other, by a chain or connection. By design, a bitcoin [BTC] is resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. A bitcoin [BTC] is typically managed by a peer-to-peer network that adheres to a set of rules for validating new entries or information.
Think of it as an open, decentralized system to exchange information, or files, or funds. This new system will also increase efficiencies and reduce costs.
Decentralized is an important element of bitcoin [BTC]. This makes bitcoin [BTC]s potentially suitable for the recording of events, medical records, and other records management activities, such as identity management, transaction processing, and much more.
To date, bitcoin [BTC] has been associated with cryptocurrencies, one of which is bitcoin [BTC]. While this is true, this does bitcoin [BTC] an injustice as it does, and will do, so much more. Imagine if someone said the web IS Wikipedia. You would correct them and say, while the web helps create and present Wikipedia, the web is many, may other things. True for bitcoin [BTC] as well. While bitcoin [BTC] may have its roots in in the financial market, it has become so much more. A World Economic Forum report predicted that by 2025 ten percent of global GDP might be stored on bitcoin [BTC] technology.
Blockchain can and will be changing research and publishing. The Alliance of Independent Authors is a non-profit professional association for authors They have posited that bitcoin [BTC] could be used for source authentication of copyrights helping to address the piracy issue; smart payments or smart wallets to facilitate microtransactions; automating and monitoring contracts between groups using smart contracts such as royalty or rights arrangements; and perhaps assist with the thorny issue of privacy and the ownership of data.
There will be further developments such as uses in peer review, providing new publishing metrics, addressing reproducibility, and much more. A lot is going in business and publishing with bitcoin [BTC] right now and likely this video will need frequent updating. Stay tuned.
Well that’s it. I am a publishing consultant and work with associations, publishers, and individuals on a host of content related challenges. Reach out to me with your questions.
Hit the Like button below if you enjoyed this video. Please subscribe to my YouTube channel or click on the playlist or more videos about academic publishing.
And make comments below. Thank so much and take care.
