1 Introduction
Blockchain technology
The creative industries
Methodology
Conclusion
2 Blockchain: the internet of value
From bitcoin to blockchain
Blockchain 2.0: smart contracts and DApps
Tokenonomics: blockchains and value
Incorporative and radical applications Conclusion
3 Opportunities for the creative industries
Ownership
Attribution
Distributed IP databases
Distributed ownership
Smart, transparent payments and licensing
Licensing
Royalty payments
Transparency
Increased control
Setting parameters for pricing and using creative works
Setting parameters for pricing and using tickets
New business models
Consumption data
Digital scarcity
Smart droit de suite payments
Tokens
Conclusion
4 Barriers to adoption
Political
Economic
Social
Technological
Legal
Environmental
Conclusion
5 Risks of adoption
Political
Economic
Social
Technological
Legal
Environmental
Conclusion
6 Conclusion and recommendations
Reasons to act Recommendations
Recommendation 1: Embed blockchain technology in the Industrial Strategy and creative industries 'sector deal'.
Recommendation 2: Establish a cross-sector, cross-departmental blockchain working group.
Recommendation 3: Publish clear guidelines on the treatment of cryptocurrencies and tokens
Recommendation 4: Establish blockchain innovation hubs around the UK.
Recommendation 5: Invest in the blockchain talent pipeline through schools and universities.
Recommendation 6: Extend the FCA sandbox programme to include tokens and industries beyond fintech. Recommendation 7: Consider how best to regulate cryptocurrency exchanges in the UK.
Recommendation 8: Take the lead in working towards global, multi-stakeholder blockchain governance.
The future is distributed Appendix: interview transcripts
Artos
Blokur
Civil CryptoKitties
FilmChain
GUTS
JAAK Maecenas Fine Art
Publica
Verisart
Index
About the Author: Marcus O'Dair is Associate Professor in Music and Innovation at Middlesex University, UK, and convenor of the Blockchain for Creative Industries cluster. He is also an Associate Editor of the Frontiers in Blockchain journal and a contributor to the Blockchain Research Institute.
