The latest IOTA news involves a new use case for IOTA microtransaction in a digitized version of the media industry.
Online media’s revenue problem
Numerous media companies have suffered greatly ever since the media industry experienced digitization. This has been especially troubling for print media firms since they were forced to change their ways and move their market online. While a lot of these companies managed to find a way to exist on the internet and still make revenue, many of them did not.
The issue arose when they started losing profit due to the lack of interest in print, which was enough for a lot of these companies to eventually go under. Others have tried to force a subscription model, which included a monthly fee. Their consumers were expected to pay a certain amount each month for free access to their website and published news.
However, this also did not help change matters for the better, since not that many people were willing to pay. This had made a subscription model dead before it even started, and the companies were left without options. However, thanks to the rise of cryptocurrencies, this might change soon.
IOTA news brings a new use case
Cryptocurrencies and blockchain technology have become known as a force of change, especially because of their efforts to solve numerous problems that were previously seen as unsolvable. Now, thanks to IOTA (MIOTA), the issue that media firms have been struggling with might finally be settled.
Cryptocurrencies, IOTA included, have brought a unique method of dealing with this issue, which is a new form of payment that everyone seems to be satisfied with — microtransactions.