Company to Distribute E-books via DLTJudy Rubio
Media Do Holdings will allocate $2,8 million for the creation of distributed ledger technology for e-book sales. The pandemic and the following lockdown caused people to pay more attention to books. And since it is easier to just buy electronic copy than to wait even for the next day door-to-door delivery, the sales stats reflected the growing number of people realizing that. It is true not only for Japan but for all around the world.ja
Covid19 pandemic caused more people to read
Blockchain has caused quite a stir in the world when it was first introduced to the masses. Many used it as bate, not actually implementing anything, just feeding customers with empty promises of using modern technology. However, some recognized it as a step towards fraud-free sales, clear documentation, reliable tracking, and swift exchange. The world evolves and the companies have no choice but to evolve alongside with it or become obsolete.
While the whole world tries to stop the spreading of the deadly virus, a lot of people are forced to stay home. Over a hundred countries worldwide introduced lockdown. The whole world learns how to deal with the limitations that it brought to us. Consequently, a surge in book sales. Some buy more books for children, while others try to fight off their boredom and spend time productively by themselves. The major bookstores and retailers reported a record 200% or even 300% increase in book sales.
Media Do Holdings are among companies that experienced a sharp increase in interest. Their sales in April increased by 20%.
Blockchain technology for e-book sales
The introduction of distributed ledger technology for e-books sale is a conditioned by a growing demand during the pandemic. The plans were reported by Nikkei. The Japanese-based company will start developing its DTL at the end of this year. The developing process is expected to take approximately 2 years.
The article states that distributed ledger technology will provide reliable and safe access to the history of transactions. Thanks to it, the users will be able to resell their e-books to other users, making the experience even more alike to the physical copies of books. The new possibilities may help the segment growth and introduce new clients, that were previously skeptical about purchasing e-books. It also will help publishers to stay afloat. And we cannot even begin on the perks that it promises to authors. The more profits will lead to the publishing of new books. More clear and reliable purchase process is beneficial to all (except for pirates).
At the moment, it is expected that My Anime List will be the first Media Do Holdings portal to pioneer DLT e-book sales.
Media Do Holdings stance
The company president Kyoji Fujita noted that restrictions due to covid19 increased e-book sales. He emphasized the benefits of electronic copies in comparison to physical ones, for example being able to buy and immediately start reading, they will be at your disposal all the time, without carrying extra weight around, it is easy to search in the document and you can edit, make notes, or highlight without damaging your copy.
The lockdown will shine a light on its benefits and show us how easy they are to read. He also noted that schools and bookstores shutting down contributed greatly to the surge in sales.
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