Japan’s Media Do to Use Distributed Ledger For E-Book Distribution as Demand Surges May 18, 2020 May 18, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsMay 18, 2020 by Kelly Cromley

Japan’s Media Do to Use Distributed Ledger For E-Book Distribution as Demand Surges

Media Do Holdings, a company headquartered in Japan, is investing $2.80 million for the implementation of distributed ledger technology for e-books distribution.

As per a May 17 news reports on Nikkei, Media Do Holdings intends to invest ¥300 million (equates to about $2.85 million) for the creation of a distributed ledger for the distribution of company’s e-books in the next two years, beginning late 2020.

The company pointed out that the DLT platform will enable maintaining a trustworthy transaction history for e-books thereby making it easy to resell used copies, while making payments to both writers and publishers.

Media Do intends to implement the distributed ledger technology in My Anime List, a manga and anime social networking platform and one of its associate firms.
Media Do Holdings President Kyoji Fujita said:

The strength of e-books lies in the convenience of being able to purchase and use them 24 hours a day, 365 days a year.

The situation caused by the coronavirus will allow us to recognize the value of e-books and increase their use.

The e-book distributor is presently associated with more than 2,000 publishers and 150 e-bookstores (online). Even before the world shifted to remote working and stay-at-home routine, the company posted e-book sales worth $600 million for the fiscal year ended February 2020.

In April, Media Do posted a 20% y-o-y rise in e-book sales, primarily due to shutdown of schools and bookstores amid the coronavirus outbreak and declaration of emergency in Japan.

Al though Prime Minister Shinzo Abe terminated such limitations on a major portion of Japan last week, top cities such as Tokyo continue to remain under an emergency state, which was announced April 16.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.