Notably, the sales digital products are surging because of the coronavirus-led national lockdown in almost every country. As bookstores and schools in Japan continue to observe the lockdown order, Media Do Holdings is planning to enable blockchain e-books distribution.
$2.8 million for blockchain e-books distribution
According to a report, the Japanese company specializes in the distribution of digital products, like e-books. Upon seeing significant sales before and after the lockdown order, the company is looking to invest about 300 million Japanese Yen (approximately $2.8 million) for the blockchain e-books distribution project.
The company said that the blockchain e-books distribution would be introduced first to My Anime List, which is considered as the world’s biggest social community and database for anime and manga. The blockchain e-books distribution is expected to last for two years, beginning later this year.
Media Do mentioned that introducing blockchain e-books distribution would enable the sales of used e-books and give royalties to the writers and publishers, as the technology can ensure a reliable transaction record. Kyoji Fujita, the president of Media Do Holdings, commented:
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.
E-book sales boom
The disclosure is coming at a period where the company is seeing an increase in sales. With about 150 bookstores online and more than 2,000 publishers, the company’s sales of e-books amounted to $600 million before the lockdown order was made.
In April, during the lockdown period, the recorded a 20 percent year-on-year growth on the sales of digital books. One can easily relate the increment to the closure of schools and physical bookstores in the country, as an effort to curtail the spread of the virus.