Blockchain Innovations on the Horizon

 [Approximate Reading Time : 4 mins]

As the information revolution continues apace, a variety of innovations in blockchain technology may be on the horizon in STM. Developing better ways to disseminate information in the digital age is a must as the entire world comes on board with smartphones and other devices. In fact, as of 2015, 3.2 billion people worldwide use the internet.

Protecting intellectual property and defending revenues from open access are among the top concerns of publishers and researchers in technical fields such as STM. As a Forbes’ blog states, blockchain can be helpful in areas such as data management, improved user analytics, ad targeting and affiliate attribution.

STM and Blockchain Technology

An STM publisher needs to know the most effective means to disseminate important information. For many publishers, this may best be accomplished by partnering with an entity that provides end-to-end publishing services. In the near future this will likely involve working with a company that harnesses the promise of blockchain in the following arenas:

• Content attribution
• Digital advertising supply chain
• Permissions
• Paywalls
• Subscriptions

Blockchain innovations could pave the way for securing and verifying data, decentralizing payment options and confirming the number of times an ad is viewed. The potential of this cutting-edge technology is still uncertain, but the message is clear: STM publishers should work with a technology enabled services company that is exploring the possibilities inherent in blockchain.

How Blockchain Could Strengthen STM

In an industry susceptible to intellectual property theft, new technology could well be the savior to some of STM’s problems such as copyright infringement. By firmly and unequivocally determining a record of transactions and citations, blockchain offers a path to verify the ownership of data. There is also potential in the area of peer reviews, as blockchain could make the process more efficient, thorough and transparent.

To learn more about the relationship between blockchain technology and STM publishing, publishers should consider meeting with an experienced technology company. There is much to sort out in this developing field.

Resources: http://time.com/money/3896219/internet-users-worldwide/ https://www.forbes.com/sites/forbesproductgroup/2018/05/03/blockchain-in-publishing-innovation-or-disruption/#c5aefc554569