FEED Issue 15


41 ROUND TABLE Blockchain

Blockchain – or distributed ledger technology (DLT) – is something everyone is talking about, but few people understand. We assembled some of our favourite blockchain experts to set us straight about the up-and-coming technology and how it might be used for media companies in the future THE BLOCK NEW KID ON

CLIFFFLUET,LEWISSILKINLLP&ELEVEN Cliff joined Lewis Silkin LLP as a partner after a decade as in-house counsel in the music and broadcast industry. Cliff’s team spearheads the firm’s media and entertainment sector and acts for some of the largest names in music, mobile, radio, audio-visual production and online. He founded “Eleven”, a company working with disruptive business models in the world of digital media, film and sport.

COLLINMÜLLER,THEBLOCKCHAINBAR Collin has been helping companies achieve growth and efficiency through digital transformation as an executive and a consultant for more than 20 years. On blockruption.com he blogs about Bitcoin and the blockchain, and how to take advantage of this technology. He is also co-founder of theblockchainbar.com, where non-experts can learn blockchain concepts in a non-technical way.

FEED: So what IS blockchain?

is accepted into the blockchain. The novel part is that a group of people, or more accurately their computers, can agree on which submissions were accepted without having to trust each other. MARIA TANJALA: Blockchain is a ledger, a database that records information such as transactions, the ownership of a song, a photograph, an academic paper and so on. A block is thus a permanent store of records which, once written, cannot be altered or removed. The decentralised character is key – being distributed on so many computers, it’s hard to hack the information recorded, as everyone has equal access to the entire history of the database. And that’s what also makes it transparent because it offers visibility to everyone within the system. It’s also irreversible, meaning that you can trust the set of rules made at the beginning, that everyone subscribed to. At Filmchain, we record the set of instructions on how people in the film industry are recouping their investment. Also, we record each transaction made to each beneficiary, so that every investor,

CLIFF FLUET: Blockchain creates a new kind of internet, one that is digital, but prevents duplication or unilateral changes, one that manages transactions, but without a central controlling authority and one that is transparent so it’s accountable. The first-use case was to enable digital money without a bank, such as Bitcoin, but not only can it store and transfer money, it could revolutionise digital businesses that rely on charging fees for online transactions through its power to minimise fraud and create trust. COLLIN MÜLLER: Blockchain is a computer system, collectively run by all users, which enables them to transact securely and exchange value without a trusted middleman, such as a bank or a trading platform. JOE NAYLOR: The blockchain is a long list of notes. Any participant can submit whatever they want, and as long as the new submission does not conflict with anything else that was submitted earlier, it

JOENAYLOR, IMAGERIGHTS INTERNATIONAL Joe is president and CEO of ImageRights International, a leader in copyright enforcement services for photo agencies and professional photographers. Joe’s career spans more than 20 years in the design, development, operations, sales, and marketing of communications and internet-based services. Joe serves as chairman of the Digital Media Licensing Association’s technical committee.

MARIATANJALA,BIGCOUCH&FILMCHAIN Maria is co-founder with Irina Albita of media fintech company Big Couch and Filmchain, which collects, allocates and analyses revenues on the Ethereum blockchain for films, TV and digital video content. She is the winner of the UK Tech Founder Award for Blockchain Founder of the Year and was nominated at Screen Awards in the Rising Star category.


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