dc.description.abstract | Decentralization and information transparency has always been the crucial element of public media industry. In the past few years, the introduction of network and social media brought significant paragon shift to the media industry by changing the way how audience interact with media. Yet some of the industrial problems still remain unsolved causing the media industry suffers from flaws of over capitalized and centralized. With the invention of Blockchain technology, researchers found it possess key features that might be the perfect solutions for current media industrial problems. Therefore, we establish the topics of this study as “Can current business model describe the media industry correctly?”, “How can Blockchain technology been used into other field than Finance?”, and “How can Blockchain provide additional value for digital media users, including authors, audience, and prosumers?”
This study use theory elaboration as methodology in order to conduct a conceptual framework with both scientific and practical utility. Driven by current industrial problems and solidified with existing theories, We create a new market design emphasizing the interactions between users within the media ecosystem with the combination of Blockchain and Smart contract.
The Joint-User System Framework we proposed in the study utilize the features of Blockchain and smart contract creating a media market with decentralization, indelible, and traceability. With these features, Wiki-Oriented JUST provides the possibilities to flatten the market middle layers and release the capital locked by old media monopolies to the crowd in order to attract more users and individual join the market.
Furthermore, Joint-User System not only create a peer-to-peer media market but also shed light on the synergy value that crowd and community created via interactions. According to Network Effect interactions within the network will create value for the entire network which means that purchases made audience also create value for the entire media market. With Community-Oriented JUST, we propose a way to monitor, calculate, and return the value back to the users who created it.
With Joint-User System, this study tried to provide some solutions with new technologies to mitigate the problems that media market suffered from. Hoping that with less centralization and capitalized monopolies in the market, media industry can always fulfill its purpose of speaks for the people and truth. | en_US |