Social Media Event in South Korea - Steemit will change the World
[Picture by @yongyoon]
By embracing cryptocurrencies and adopting the possibility, Kwon considers that media firms would have the ability to modify the revenue model. "The future of the media is located in tokenisation," Kwon clarified, including "For the press to endure, we have to embrace cryptocurrencies and employ it into the present system to aggregate audience involvement while decreasing our reliance on advertising revenues. " It is now a priority for the media business to learn more about the ways in. TokenPost CEO Sonny Kwon considers that blockchain technology can offer a remedy for this issue.
"For networking to live and function its worth in our society, it is now crucial to embrace blockchain engineering," he stated, adding that "tokenisation" of the press is vital for the business to survive. Speaking in the Media X Blockchain seminar on April 30 at FKI Tower in Seoul, '' Kwon stated: "Most of these businesses today are relying on advertising revenues, making it hard for media to perform its societal function". This reward system which promotes a flow of content sustains Steem's ecosystem. The platform is on the point of exceeding 1 million consumers. "While the immutable character of blockchain technology may benefit certain areas, others might endure," Shin cautioned, including that especially in the event of the press, one wants to be cautious. The media business, which was flourishing, is finding it hard to survive. Kwon considers that blockchain technologies -- an innovation called the technology supporting the industrial revolution -- may tackle these difficulties. According to South Korea, TokenPost is a major supplier of analysis and information on trends, technology, and companies.
Media Has to tokenise to Endure; States TokenPost CEO Kwon added that press, or even the 'estate,' can't serve its function as 'watchman' since contemporary journalism's infrastructure is formed about earnings generation advertising revenue. The dependence on advertisers is a limitation for networking as it doesn't have any option other than to stand by while the advertisers corrupt and pollute the business. "it's unnecessary to tear a great operating program," Shin said. "Switching in the present method to Smart Contracts wouldn't just lead to additional expenses, but extrinsic sounds may also fog the people. "
Advertising revenue mainly drives the present revenue model. Media homes throughout the planet are currently seeing a drop their advertisement revenue like facebook, which offers enormous advertising chances and achieves that is wider at the lower price compared to the media.