Summary
The article discusses how the principles of instant settlement and the removal of intermediaries can bring efficiency and innovation to various industries, beyond just construction and logistics. In the publishing industry, instant settlement can benefit authors by allowing them to receive immediate payment for each purchase of their book. This eliminates the need for complex negotiations and advance payments. The same principles can be applied to translations and audiobooks, with fair splits between authors, publishers, translators, narrators, and other contributors. Additionally, instant settlement can revolutionize the influencer market, allowing influencers to receive direct compensation for each sale they generate. Overall, instant settlement has the potential to transform industries and inspire new possibilities.
Key Points
1. Instant settlement and the removal of intermediaries can bring efficiency and innovation to various sectors beyond physical industries, such as digital services and intellectual property. The advantages of instant settlement include reduced transaction fees, faster payment processing, and increased transparency, which can positively impact industries in the dematerialized realm.
2. The publishing industry, particularly for debut authors, is filled with challenges, including persuading a publishing house to forge a deal and navigating complex negotiations. Instant settlement can streamline the publishing process by eliminating the need for advance payments and allowing both authors and publishers to receive a percentage from each sale instantly. This fosters a more collaborative and efficient partnership between authors and publishers.
3. Instant settlement can also benefit other aspects of the publishing industry, such as translations and audiobooks. For translated versions, payments can be split between the author, translator, and second publisher. Audiobooks involve multiple contributors, such as producers, narrators, and recording engineers, and instant settlement allows for fair compensation based on individual contributions. This aligns payment with actual value and eliminates compensation for time or speculation based on future sales. Additionally, instant settlement can revolutionize the influencer market by connecting payments directly to actual sales generated, providing fair compensation for influencers and aligning incentives for authors seeking broader promotion.