Boosting the Competitiveness of the Content Industry: Strengthening Domestic OTT Platforms and Blockchain-based Art Trading

Boosting the Competitiveness of the Content Industry: Strengthening Domestic OTT Platforms and Blockchain-based Art Trading

In order to further develop the domestic content industry, experts have emphasized the need for active participation from the Media and Content Industry Convergence Development Committee (MCICDC), which was established to create a comprehensive development strategy for the media and content industry. The MCICDC, headed by the Prime Minister, consists of experts from academia, industry, and the legal field, as well as government officials. The committee's main objective is to consolidate individual policies related to the media and content industry, formulate comprehensive strategies, and implement them promptly. This initiative is expected to lead to the creation of a roadmap for the development of the media and content industry, which is tentatively named the "Media and Content Industry Convergence Development Strategy."

One researcher in the content industry expressed the importance of support for domestic OTT platforms, highlighting the lack of relevant laws and a clear policy control tower. However, with the recent establishment of the MCICDC, there is hope that it will provide policies that benefit the content industry and domestic OTT platforms.

Moving on to a different aspect of the content industry, the article "Proposal for a Blockchain-based Art Trading Platform to Popularize Art" sheds light on the lack of progress in the culture of owning art among the general public, despite the increasing level of cultural consumption in South Korea. The existing systems for art trading, both traditional and blockchain-based, are primarily designed for high-value transactions, making it difficult for the general public to access and participate in this market.

To address this issue, the article proposes a blockchain-based art trading system that can improve the culture of art ownership among the general public and contribute to the popularization of pure art. The proposed system integrates three blockchains for identity verification, art registration, and smart contracts. By utilizing the advantages of blockchain technology, the proposed system enables users to provide trust in each other and introduces the concept of "art notes" within the blockchain system, allowing artists to establish trust in their own works. Since the trust system is built through the participation of system users rather than experts or external organizations, it reduces costs and enables transactions of artworks that are accessible to the general public.

Despite the differences in the content industry and the art market, there are common points that can be identified. Both industries require strong government support and the formulation of comprehensive strategies to overcome existing challenges. In the case of the content industry, the MCICDC plays a crucial role in consolidating policies and driving the industry forward. Similarly, the proposed blockchain-based art trading platform addresses the need for a more inclusive and accessible art market by leveraging trust-building mechanisms and reducing costs.

Based on these common points, it is clear that the development and competitiveness of various industries depend on the collaboration between government bodies, experts, and industry stakeholders. To further strengthen the content industry and promote the popularization of art, here are three actionable pieces of advice:

1. Enhance collaboration and communication between the MCICDC and relevant stakeholders in the content industry. This will ensure that policies and strategies align with the industry's needs and challenges.

2. Encourage the development of legal frameworks and regulations that specifically address the unique characteristics of the content industry and the art market. This will provide a stable and supportive environment for industry players and creators.

3. Foster innovation and technological advancements within the content industry and the art market. Embracing technologies like blockchain can unlock new possibilities and transform traditional systems, making them more inclusive and accessible to the general public.

In conclusion, the competitiveness of the content industry and the popularization of art require comprehensive strategies, government support, and innovative approaches. By strengthening domestic OTT platforms and implementing blockchain-based art trading systems, we can create a more vibrant and inclusive ecosystem for both industries. Through collaboration and the adoption of new technologies, we can pave the way for the future growth and success of the content industry and art market in South Korea.