cryptodailytrading.com

Cryptocurrencies and the Entertainment Industry in 2019


Cryptocurrencies and the Entertainment Industry in 2019
You may also like:

The entertainment industry is just as big now as it always has been, potentially even bigger. This is as a result of it being able to move with the times so to speak, it’s embraced the latest technology and used it effectively to continue to move forward. With cryptocurrencies having gained more media attention over the last few years, they and the technology behind them, are now being touted as the latest tech which could have an impact in the entertainment sector.

There are many working in this sphere who you would describe as content creators working in the entertainment industry. They could be music artists, music producers, they may create video, or even text-based content. What has often been referred to as a problem where some of these people are concerned is that the content creators, in a way, must hand out a large chunk of their earnings to different parties, with social media websites and hosting platforms said to profit as a result.


This resulted in the technologists working in the crypto sector thinking and they have come up with what they believe is the perfect solution. The experts feel that the way forward is to build and operate a decentralised economy, using the technology behind some of the world’s leading cryptos, to provide content creators with the opportunity to deliver their content directly to the customer.

The structure that would be put in place is likely operate in a peer-to-peer style, with no middle men, governors, or intermediaries involved. Content creators, whether they produce sound, video, text, or something else, would be able to deliver their content directly to the platform, with users then able to purchase the content. This would even open the opportunity for custom content to be created too, with the content creators being paid 100% of their earnings every time.

With the likes of Tron, a firm from Singapore, already invested in this approach, it’s likely that 2019 will see further developments in this area. It could revolutionise how content is bought and shared around the world today, totally transforming the entertainment industry once again. There’s no doubting that the digital entertainment sector is moving towards a decentralised approach, and 2019 could see it take another giant step in this direction.

There’s also the likelihood that the entertainment industry in its current form could embrace cryptocurrencies more in their traditional sense. Gaming platforms and brands, such as PartyCasino which feature some of the world’s leading slot machines, could embrace cryptos more as a way to pay. This will then bring these operators in line with the likes of CloudBet who has one of the most impressive bitcoin gambling platforms in the business.

The online casino sector has always been keen to embrace new and innovative concepts, especially with this market being so competitive as well as extremely customer focused. Therefore, we should expect the online casino and gaming sectors in general, leading the way in showing how cryptocurrencies can be highly advantageous to any business that aspires to be the best.

With the crypto community still growing at an impressive rate, it makes sense for some of the more reputable cryptos to be accepted as valid payment methods by companies in the entertainment industry. While some have been reluctant to do so, companies are investigating both the pros and the cons, so 2019 could be the year cryptos make the breakthrough in this area.

Cover image via u.today
Subscribe to the official U.Today Telegram channel. Get news first!
👓 Recommended articles

Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?


Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?
You may also like:
Contents

On a day where the markets are predominantly in the red, but only slightly, it is interesting to note that Binance Coin is surging. The exchange token is up fiver percent, but it is totally understandable as to why there is so much positivity around the company.

The biggests news, which comes off the back of its decentralized platform, Binance DEX, is that the Binance Chain mainnet has been launched and that they will be executing their Mainnet Swap on April 23rd.


This means that Binance Coin will be shifting away from Ethereum, leaving questions open as to what this means for Ethereum, which has been under the pump to stay relevant in today’s crypto and blockchain space. This move will result in a migration of $3 billion worth of BNB being moved away from the Ethereum blockchain and onto the new Binance chain.

A positive investment

All the good news emanating out of Binance has not only helped the coin to climb in price when the rest of the market settles down – it is helping it head towards a new all time high. Binance, like many altcoins, reached its ATH in January of 2018 in that parabolic stage.

Binance Coin hit $24 back then, and now, it is at $21 and rising with the thoughts being that when the mainnet move takes place, there could well be an even bigger surge. It is also interesting to note that just a few months ago, at the end of last year, it hit lows of $4.50.

Competing with Ethereum?

The mainnet move is obviously good news for Binance, as the markets are suggesting, but is it equally bad news for Ethereum, which was the holder of $3 billion thanks to the exchange. Many people have speculated that this new blockchain platform will pose competition to Ethereum, but ultimately it will help diversify Binance Coin’s use cases while also increasing its utility.

So perhaps rather than being a direct competition to ETH, it is only going to strengthen Binance Coin and in doing so perhaps spell out the future of cryptocurrencies as there is good reason to believe that this token, with its added utility and use cases, will be a viable token for the world going forward.

Cover image via 123rf.com
Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!
👓 Recommended articles