How does a writer get paid online? How would an illustrator get paid? Blockchain technology provides a solution to receive payments for original content. Blockchain technology can be used for many things. The primary use case in it’s early adopter phase has been for digital currencies. Names like BitCoin, Ethereum, LiteCoin and zCash are first class citizens in the blockchain.
The engineering solution involves setting up a full node to communicate with the blockchain network and for a service to timestamp files and publish these on the blockchain. The timestamp is associated with a wallet address where deposits are made to the original content creator.
The payment and scalability side of things is solved by a technology within the BitCoin blockchain called lightning networks – the technology is not only found in BitCoin other alt-coins have it too. It is a promising step in the goal for content producers to get paid for their work.
The payment channel, yet to be deployed worldwide in all digital currencies, allows for trustless micro-transactions in a secure and fast way. The days of being rewarded for reading and writing content on the Internet are within sight. Some projects that may incorporate payments for original content include:
- adToken for advertising credits, anti-fraud mechanisms
- VOISE claiming to revolutionize the music industry with payments to the artists
- LBRY Credits for a content marketplace
- and many more alt-coins which can be used for payments
At this stage, it’s best to bookmark this page and revisit on a monthly basis for updates. The blockchain world and cryptocurrency landscape is full of development and there’s all kinds of projects looking at harnessing this new technology to get digital payments for original content creators! Stay positive!