Po.et announced that Richard Titus and Greg Clayman, two digital media heavyweights, will join its advisory board, helping shape a new blockchain protocol that could rapidly accelerate solutions for the digital media industry.
Solutions include proper attribution, longtail revenue for licensing and protection for freelance writers’ intellectual property. Po.et’s platform includes a licensing wallet and immutable portfolio for all creative content where territory and search parameters are considered for licensing and monetization. Po.et is ultimately building an open, blockchain-based protocol for decentralized media applications.
Bitcoin uses a distributed computing network to transfer the digital currency from computer to computer. The network is secured by “miners,” or computers that cryptographically verify those transactions, which are entered into a public ledger called the blockchain. A blockchain is simply a shared (distributed) database (history) that is updated and kept secure through some communal consensus algorithm. Po.et, which stands for “Proof of Existence 2.0,” is inspired by Proof of Existence (PoE), the first nonfinancial use case of the Bitcoin blockchain. Originally developed in 2013, PoE enabled users to register a digital proof of any document on the Bitcoin blockchain.
Greg Clayman has previously served as the head of on-demand video at Vimeo and digital strategy for News Corp, where he oversaw the launch of the company’s iPad news magazine, The Daily. Prior to that, Clayman served as MTV Networks’ executive vice president of digital distribution, negotiating its first deals with Netflix and Hulu after having led the programmer’s mobile media efforts.
“The digital media and publishing industry is rife with challenges, but at the core, the nervous system is the integrity of its works and an ecosystem supportive of accurate authorship, attribution, and monetization,” said Clayman. “I believe in this team’s ability to leverage blockchain technology to the process of integrity and attribution.”
Richard Titus, named to the Wired 100 list in 2010, is a serial entrepreneur with executive experience in startups including Razorfish, Schematic and Videoplaza. His most recent startup, Prompt.ly, he co-founded in 2013 and sold in 2016 to Breezeworks. Titus recently led product experience for Samsung Consumer Electronics and previously held senior leadership roles at the British Broadcasting Corporation (BBC), where he launched iPlayer and the BBC mobile service and subsequently served as chief executive of Associated Northcliffe Digital, the digital holding company of Daily Mail and General Trust.
“Bitcoin, blockchains and distributed ledgers will enable and protect an entire ecosystem by providing truth of origin and ownership — a timestamp or a ‘proof of existence’ that allows publishers to license content, identify and monetize author’s work,” said Titus. “Preserving an ecosystem of content creators, publishers and advertisers requires the establishment of ownership and Po.et is at the right stage of development to bring a true marketplace into existence.”
BTC Media, a Po.et Alpha Partner, is the world’s largest Bitcoin-and blockchain-focused media company, whose properties includes Bitcoin Magazine, Distributed and yBitcoin. It believes that the technology it develops insights around can also create transparency and trust among the content creators they employ and reduce the risk of inaccurate attribution, creating long tail revenue opportunities for that content.