Introducing Soneium: Why Sony Developed Its Own Blockchain Platform

With this, let's take up the topic "Know Soneium: Why Sony Launched Its Own Blockchain Platform?" with an introduction and a conclusion as follows:

Introduction:

In its own right, such a move by Sony is a landmark in technology and entertainment convergence: Sony just launched its own blockchain platform, named as Soneium. Launched last September 2020, Soneium is a decentralized blockchain platform set to introduce safe and clear data management, content distribution, and digital rights management. But why would Sony want to trod the blockchain; after all, this year marks the company's 100th year in the entertainment industry? Well, let's see what's behind the Sony launch of its self-owned blockchain and how that might change the entertainment landscape.

Body:

Sony is entering the blockchain space not as a knee-jerk reaction to this growing trend in the tech world but rather to take hold of the potential that decentralized technologies can offer in being able to help solve some of the deepest problems that the industry has faced. Here are some key reasons why Sony launched Soneium:

1. Data Security: Whether it is the good, long-standing entertainment companies of Hollywood or the relatively newer entertainment firms like Sony, cyber attacks and data breaches always presented a vast assortment. The data storage and management were done long before Blockchain technology-became a safe and tamper-proof method and also transparent way.
2. Content Distribution: The streaming services have actually made content distribution pretty much more or less involved process, broken from the good old days. Soneium is making it all much easier by letting open source, decentralized artists manage all their digital rights management, track distribution and collect their royalties.
3. Digital Rights Management: Using blockchain-based technology, Soneium automatically manages digital rights among the creators, producers, and owners in ways that ensure creators are duly compensated for their work.
4. New Business Opportunities: On the other hand, Sony must provide new business opportunities by issuing its blockchain, for example a decentralized marketplace of digital content, services related to the blockchain provision towards other companies, and developing new applications to existing product forms. Conclusion: Sony's move into blockchain is quite a big step for the entertainment industry, and Soneium will change the way that content is created, distributed, and consumed. In this context, blockchain technology application will address some of the most daunting challenges within an industry: data security, content distribution, and management of digital rights. Down the line-that is, in the near future-more companies will emulate Sony as they embrace blockchain technology to create new business models that improve on transparency and make the whole entertainment experience enhanced. Tune in to see how Soneium raises entertainment into a new creative dimension of the future!