Media companies that once adapted successfully to the digital age must now embrace blockchain technology in order to meet a new set of challenges and grow into the distributed future.
That dynamic is well understood by Jarrod Dicker, the CEO of Po. et — a project that includes many team members from BTC Inc. the publisher of yBitcoin — who sees Po. ets blockchain-based content management network as the key to enabling innovative new models of revenue generation, attribution management and more within the media industry.
In explaining how he started on the career path that has led him to this pivotal moment in the evolution of digital publishing. Dicker said his goal has always been to make big changes. That drew him into a career in journalism, starting at the Huffington Post in 2010.
“What was extremely interesting at that time was that there were conversations about traditional media being upended.” Dicker said. Large media companies were either finding new ways to reach audiences in the digital age or failing outright.
Dicker added that his experience at the Huffington Post allowed him to witness firsthand how new content distribution practices, as well as novel advertising strategies like social marketing, were becoming essential parts of the new media industry.
From the Huffington Post. Dicker moved on to jobs at Time and the content management system startup RebelMouse, before eventually landing at the Washington Post. where he served as vice president of innovation and digital strategy.
“I was drawn there by the Bezos acquisition.” he said, referencing the fact that the Washington Post was acquired by Amazon founder Jeff Bezos in 2013. “It brought together everything I loved: journalism, technology and media.”
Although Dicker said he was happy with the changes he was able to accomplish at the Post, the
Position didnt satisfy his drive to overhaul the entire media industry.
“What I realized was that there needed to be something bigger.” he said. “We couldnt change an entire ecosystem from one organization.”
That led Dicker to Po. et. where he became CEO in February. Po. et. which was incubated by BTC Labs, a subsidiary of BTC Inc.. is different in two main ways from the organizations that Dicker has worked at previously. First because Po. et is a nonprofit foundation, “all of the dollars go back into building” the platform. Dicker explained.
Second. Po. et is a community – based organization, with a platform that is being built “by the community, for the community.” according to Dicker. “We want to give back to creators, help them build tools and make it all open source. We want to become the next layer of the internet that others build on.”
For now. one of Dickers main tasks will be to grow the Po. et community and increase adoption of the platform. Frost, an open application programming interface (API) that allows anyone to register digital content on the Po. et blockchain.
Was released in early February, making Po. et widely accessible to the public for the first time.
Frost is pivotal in what Dicker said will be an ongoing commitment to community engagement, central to Po. efs growth strategy.
“Were going to continue to focus heavily on the community, and empower the community, and give them the tools and guidance they need to build something useful for them.” he said.
He noted, too. that the community members already using Po. et were drawn to it organically, without the encouragement of marketing campaigns.
“People are already building on Po. et. and thats how you know you have something.” Dicker said. “With some marketing effort and with some business value for larger partners, this could be something big.”
Dicker explained that the key to increasing engagement with Po. et and expanding its user base will be to focus on content creators, who can use the Po. et network to manage attributions for the digital assets they create — such as news articles, blog posts and videos.
An embedded Po. et badge provides an easy way for publishers to validate their content against the Po. et network.
“If youre a writer for any company, whether a traditional one or a large one. you will want intellectual property management and attribution ownership.” he said.
He also pointed to the new types of advertising solutions that Po. et could enable as an attractive factor for media companies to embrace the platform. Today, advertisers and content owners have to work with intermediary agencies in the advertising industry to place ads and generate revenue from them. But with Po. et advertisers could engage content creators directly. This model would make advertising more efficient for advertisers, while also empowering content creators with new compensation opportunities for their work.
Incentivization could come directly from Po. ets native cryptocurrency. POE. The token is expected to serve as the economic layer for Po. ets creative-works marketplace, driving participation and curation. Potentially, content creators can ask to have their content listed on the marketplace and pay a deposit in POE. They may also be compensated for their work in POE.
When speaking about the current state of the media industry. Dicker drew comparisons to the music industry 20 years ago. on the eve of its disruption by Napster. At the time, music companies ignored the writing on the wall, and Napster arrived and “blew up the industry.” Dicker said.
Dicker sees Po. et as the solution that will help media companies to keep control of the reins of the industry while adapting to new challenges.
“Lets not wait for the Napster of media and content to come about.” he said. “Lets instead build Po. et so we can evolve the media model.”