Digital technologies have transformed media content production and distribution in the global entertainment and media industry over the last two decades. The market is forecast to continue to grow over the next five years, and is currently estimated to be worth just over $2 trillion. Acute challenges remain, though, especially relating to the way in which digital content can be copied and freely distributed on the Internet, and how content contributors are compensated when their materials are used or bought through legitimate channels. The blockchain technology and the virtual currencies can provide the ideal, cost effective framework for payments, preserving privacy, low commission fees, instant financial transactions, without intermediaries.
