Media Do Holdings To Invest $2.8 Million Towards DLT For Distribution Of Its E-Books
Media Do Holdings To Invest $2.8 Million Towards DLT For Distribution Of Its E-Books
May 18, 2020
Media Do Holdings To Invest $2.8 Million Towards DLT For Distribution Of Its E-Books
Media Do Holdings To Invest $2.8 Million Towards DLT For Distribution Of Its E-Books
May 18, 2020

Media Do Holdings, the Japan-based E-book publisher, is planning to invest $2.8 million towards distributed ledger technology (DLT) for the distribution of its e-books, as many schools and bookstores still closed in Japan.

On May 17, it has been reported by the Nikkei newspaper that the investment by Media Do Holdings is planning to develop for the company’s e-books for the next two years starting in late 2020.

However, the company said that being able to have a reliable transaction history through such a ledger for e-books makes it possible to sell used copies and to return royalties to both publishers and writers.

The company also plans to first introduce the distributed ledger technology to My Anime List, an anime and manga social networking website, and one of its holdings.

Kyoji Fujita, the President of Media Do Holdings, 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.”

Currently, the Japanese e-book distributor works with over 2,000 publishers and 150 online bookstores.

ALSO READ :  Binance Allows Users To Buy Crypto Directly Through Visa Credit And Debit Cards

Even prior to stay-at-home and remote working recommendations, the company reported $600 million in e-book sales for the fiscal year ending February 2020.

Thus, Media Do Holdings reported a 20% year-on-year increase in e-book sales in April, which due to the bookstore and school closures caused by the recent nationwide state of emergency in Japan due to COVID-19 pandemic.

Source: Cointelegraph | Image: PCWorld


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
Share This

Share This

Share this post with your friends!