Can Publica Disrupt the Disruptor-in-Chief?
Blockchain and ICOs are not just for payments, but hold promise to revolutionise a wide range of industries – from music and wine to logistics.
Amazon famously disrupted publishing – but will blockchain disrupt the disruptors? As most authors will tell you, not only is it near impossible to make any money at it, but you have to do your own marketing these days and even then you’re only going to get a smallpercentage… eventually. The lion’s share going to Jeff Bezos’ empire.
There are plenty of 21st century ways of getting your words out, from blogging and e-books to Unbound, print on demand, Smashwords, CreateSpace – there’s little guarantee of quality, and no way to ensure getting paid properly. Or you’re back to publishers giving the nod, or the ‘Amazon mass grave’.
Not any more if Publica.com’s Josef Marc, who I interviewed for this week’s show, has anything to do with it.
Likewise Sukhi Jutla, who’s written three books – including the first in the world published on Blockchain, aptly called “Escape the Cubicle”.
Josef, who calls Publica “the Gutenberg press for the 21st century" became fascinated with Bitcoin which led him to apply the technology to publishing. Now Publica enables authors to self-publish, or raise funds through a book ICO, selling their token – yes, a book token! – via a smart contract provided, managed entirely by themselves. Including setting the price.
When a sale’s made, the reader immediately gets the key in their wallet and the author gets instant payment in theirs – in Publica’s own, freely convertible, Pebblecoin.
No third parties taking a cut – the writer gets 90%! Even better enabled by blockchain, you can loan it, give it, or resell it, just like a ‘real book’. Plus if you resell one of my books I get whatever percentage I set when I set it up!
“This blockchain technology now allows authors unprecedented freedom to both crowdfund and distribute their books” commented Jutla who says it’s easy to setup, taking a few minutes.
Provided you own the rights you can upload your book and have another outlet (from which you get 90%). Or crowdfund a new one. Running a book ICO is like kickstarting your book, getting your fans to vote with their wallets.
There’s a ton of titles in the app already, so – what you waiting for?
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