Why is Crypto relevant to the creative industries?
Why is Crypto relevant to the creative industries?
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Crypto currency is an emerging digital technology which promises a lot of potential for applications across all of the creative industries, offering new and innovative ways to take payments, manage content and distribute creative work.
Whilst crypto is currently being widely reported as a volatile and developing sector, there are clear signs that these technologies will become deeply embedded into everyday life and business, so understanding how it works and getting a foot up on the ladder to applying crypto will give creative students a substantial head start in their future applications.
How does it work?
How does it work?
Crypto currency at the most simple level operates by taking the reporting and log keeping done by central banks (keeping track of who has money and how much) and sharing the tracking amongst everyone. A network of lots of participants all collectively keep a track of who owns what, and this shared record is called the BLOCKCHAIN.
A number of different variations on this technology are developing, with Bitcoin being the most recognisable as it was the first. The key thing to understand is that at a core level, these all share the same concept. Moving control from central organisations to the public control.
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