Novel Writing: The Go Broke Quick Scheme

Every once in a while, I still come across writers who operate within the fantasy that all they have to do is put a book out there and the money will start pouring in on its own. It’s a fantasy perpetuated by a long, long tradition of putting best selling authors on a mile high pedestal and poking fun at the average Joes and Janes by painting them as talentless losers. Authors make it all look so easy by design, because we all want to celebrate our successes. Admitting our struggles and failures is something we keep for our closest circle of friends and colleagues who understand exactly what we mean when we say, “My sales are going nowhere. I think my career is over.” They understand because they have been there, or are right there with us.

But there are still those who are either unaware, or intentionally dismissive of how the world works. A while back, I saw someone post a complaint about how they published a book on Smashwords a year ago and it never sold anything. The writer was very bitter over this, and blamed Smashwords for hyping up Indie authors and not delivering on those grand promises. In response to that, here is where I completely shatter the delusion that getting a book out into the world is a get rich quick scheme.

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Q: Should I put my books in KDP Select?

This is a question traditionally published authors never have to think about–because they don’t usually get the option. But it’s one that keeps Indie authors up at night. For a lot of them, it translates to, “Should I go all in?” Because that is what it means. For those who aren’t familiar, Amazon’s KDP platform has an option for KDP Select. It’s a voluntary commitment to enter your book into an exclusive distribution though Amazon for a minimum of 3 months, during which time you have certain advantages over non-Select books:

  • You can run limited time promotions
  • Amazon’s algorithms give your book preferential treatment
  • You get to earn money on pages read, which can add up to a significant chunk of change

The drawback, of course, being that every book entered into KDP Select must be pulled from every other retailer world wide. Even with Amazon having the largest reach and largest market share for eBooks, that still cuts you off from a large potential readership. And there are other issues, as well:

  • Royalties paid out of a shared pool, which cuts your earnings per book read (relative to standard per-unit pricing)
  • Technical issues
  • Fraudulent activity from unscrupulous authors

Still, the earning potential is large enough to keep enticing authors. As an Indie author myself, KDP Select has never held any appeal, precisely because of the exclusivity catch. But I would be lying if I didn’t admit that in the last two years, as sales across the industry as a whole have taken a huge dip, and as I have watched my own sales take a suicidal nose dive, I have considered whether it might not be worth a try. This year, especially, has been hard for me for many reasons, most of which have nothing to do with my books. Usually, at my low times, I escape into my books: reading, writing, taking pride in what I’ve accomplished and how I’m still hanging in there, despite everything.

That’s a little difficult to do when you can’t see the returns on all the effort you have put into a project. And that’s why KDP Select sounded like a promising solution–for about a minute. I thought, “I could make it work. I could sell my soul. Or maybe just loan it out for 3 months to make some extra cash, just to get my confidence back.” But my own immediate reaction to that was such a powerful rejection of the idea that I ended up discarding it again. For one very important reason: Nothing I have read and heard about the program so far has inspired any confidence in me that it wouldn’t irreparably hurt me in the end.

For me, the question of, “Should I go Amazon exclusive?” isn’t about How much can I make? but How much am I willing to give up to make that much? Am I willing to alienate the eBook world outside of Amazon? Am I willing to give up a much larger chunk of my profits to Amazon and thieves? Am I willing to go on faith that Amazon will report my page reads accurately and pay my royalties honestly? Am I willing to set aside all of my principles to make a buck, and feed the monster I personally believe is destroying the democracy of eBook publishing? Okay, that last one is a bit dramatic, but it’s how I feel. And when I put it that way, my answer is no.

It’s a very personal choice, and I’m well aware that not everyone shares it. There are plenty of writers who are quite happy in KDP Select, making enough money to be comfortable, and not at all concerned about any drawbacks. That’s great for them, and I’m happy for them. It’s just not the right path for me.

This morning, a friend of mine shared an article in a Facebook group (I’m fairly active on Facebook, in case you haven’t noticed 😉 ): Business Musings: Your Basket Is Leaking. The writer, an Indie author herself, makes a comparison between Sears and Amazon, in terms of their business life cycle. She also points out some uncomfortable truths about the way Amazon does business (which didn’t surprise me, to be honest) and paints a bleak picture for Amazon, predicting its downfall, and pointing out how staunch KDP Select supporters are now waking up to its issues and quietly pulling back to publish wide. It’s well worth reading. It’s well worth reading anything on any company you’re in business with.

So back to the original question: Should an author put his/her books in KDP Select?

My answer would be: Depends on your business model.

Do you have a massive backlist of titles to experiment with? If so, go for it! See what works and what doesn’t. Maybe putting one or two books into exclusivity will open doors for new readers to find you. Be aware, however, that it opens you up to a lot of resentment from readers who will want to read the rest of your books but only if they’re in KDP Select. And that resentment can be quite vicious, just so you know.

Is it a good idea to put all of your books into the KDP Select basket?  I still say no. Only because it’s never a good business decision to rely on one single point of sale. For one thing, you’re cutting yourself off from a wide world of readers who, for whatever reason, don’t shop for eBooks on Amazon. For another, you will be making yourself 100% dependent on Amazon’s integrity and longevity. Whatever issues Amazon might have, you will be locked in to endure them for at least 3 months. And if Amazon does suddenly shut down KDP Select, you’ll lose the bulk of your income. Not all, unless Amazon itself folds, but just make sure you have put enough money away to survive until you rebuild your readership across other platforms and get your sales back up. Which will take time.

As for me, I can say with 100% certainty that any titles I have published will never go exclusive anywhere. Beyond that, the project I had briefly considered trying for KDP Select is now on hold. I might revive it at some point in the future, but as long as I keep coming back to my original arguments against Amazon’s exclusive program, I don’t think it’ll ever happen. And the fact that I keep randomly coming across these types of articles and opinion pieces reinforces my belief that I am doing the right thing for me.

If this should be my last blog post for 2018, I wish you all a beautiful Holiday Season and nothing but the best for 2019. May you find everything you’re looking for, may you always have everything you need, and may good luck stick to your heels like melted chewing gum. 🙂

Until next time!

An Introduction to Blurb

A short and sweet post today introducing Blurb.com. 🙂

As you may have heard, CreateSpace, Amazon’s Print-on-Demand publishing arm has closed down. This has been a long time coming, and started with CreateSpace closing down its online store many moons ago. Now, the entire department has been merged into KDP, Amazon’s eBook publishing platform. Reviews are mixed for the time being. Some authors find the process of setting up a print edition easier when they do it in the same place as the eBook. Others find it cumbersome and run into problems, especially with the cover. Many have complained that orders process slowly and ship even slower, sometimes in strange ways. I saw one photo post showing the 5 copies the author ordered each packaged in its own envelope for shipment, indicating that each was printed at a different facility. My take on this is that the transition is overwhelming to their systems and they are working out the kinks associated with processing a large number of bulk orders. It may pass, but it will take time.

I was prepared to give them a chance–until I read the new terms of service. I had moved all of my print productions from CreateSpace to IngramSpark earlier this year, anyway, and pulled all of my CS editions out of distribution, so the change-over didn’t really affect my active distribution, but I had several titles set up with CS which had never been intended for distribution to begin with. They were titles I had set up for myself, just to have a few copies of my shorter works that aren’t really suitable for sale as a printed book. I was hoping to keep those still available through the new KDP platform. Unfortunately it turns out KDP took a page out of IngramSpark’s playbook and they no longer allow books to be activated without distribution.

This has yet again thrown a massive wrench into my plans, so I went looking for other solutions. I already knew about LULU, but I’m uncomfortable with their setup system, the cover print quality left something to be desired last time I tried them, and they are about twice as expensive for author copies as IngramSpark. That was not going to work for me…

And this is how I came across Blurb.

My study is still on-going but, so far, it appears to be the perfect solution to my needs. It’s a print-on-demand service that has several options for distribution (or not). They do soft and hard covers, photo books, and magazines, even eBooks. Their print trim sizes are very limited compared to KDP or IngramSpark, but the most common sizes are represented, so that should not be a problem for most authors.

But best of all, they have formatting tools available that promise to be a heavensent for Indies. The one I just downloaded and installed is an InDesign plugin that creates the template for you, based on the trim size you select, and gives you the ability to upload your files directly to Blurb without leaving InDesign. If you’ve ever formatted your own book, I don’t have to tell you how magical that is.

I plan to explore this platform a lot more, and will have a follow-up post on how it works, their print quality, etc. It probably won’t be any time soon, because I have too many pots boiling over on the stove as it is, but one of those pots involves me getting ready for my very first book signings next year, so I definitely need to get on top of this. For now, I present it to you as one more option for your publishing needs. 🙂

Because having options is good.

UPDATE (11.3.18): Naturally, I couldn’t not check it out, so I downloaded the InDesign plugin and started playing around with it. First time with anything, I naturally floundered a bit, took me about 4 hours to get my ducks in a row. I ran into an issue when I tried to upload my files through the plugin. 11pm, I sent a message to their tech support, asking for help and I went to bed. I figured I wouldn’t hear from them until next week at the earliest, anyway.

Imagine my surprise when I logged into my email this morning and discovered they’d already replied with specific instructions on how to get around the issue. The message was time-stamped 12:00am. Less than an hour after I’d reached out to them. To say I am gobsmacked is putting it mildly.

For anyone looking for Print-on-Demand services, you should definitely check out Blurb. 🙂

Adventures in Amazon Advertising

Intro:

I’ve been playing around with AMS advertisements for a while. Mostly the wrong way. Why? Because I’m a really slow learner who just has to do everything the hard way. It’s a flaw I am well aware of, but it’s not the point of this post. The point is, I wanted to try an ad the “right” way and see how far it would get me. What follows is my full disclosure, total transparency about my results. I’ll leave you to be the judge of my efforts.

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Let’s Talk About Piracy

This morning, I woke up with a fun, catchy song in my head. I was in a good mood, ready to tackle the day, and then I logged onto Facebook. I write this for both authors and readers, because I’d be remiss if I didn’t address it on this website. It may end up a bit ranty (there may be profanity, too), but I hope you’ll forgive that. Every time this particular topic comes up, it feels like death by a million paper cuts with a bonus lemon juice bath. I hope you’ll read it, anyway.

For the sake of not making this go viral, I won’t post the image that completely ruined my good mood, but I do want to address the subject of book piracy. Everyone loves a freebie, right? There’s no harm in downloading just one book, right? It’s just a drop in the bucket for authors who make money hand over fist, anyway, and after all, it’s just one book.

The way I see it, piracy happens for one of two reasons: ignorance, or entitlement and apathy. The former is fairly easy to dismantle with just a bit of accurate (if painful) information. The latter, not so much. So let’s talk…


“But it’s just one book. I give away my paperbacks all the time. I paid for it, it’s mine. Who the hell are you to tell me what to do with something I paid for?”

You’d think the vehemence was exaggerated. It’s not. But here’s what many people don’t know, or consciously realize:

Print books and eBooks are not the same. A printed book is one copy of the product. Very cumbersome to replicate by copying or scanning, and why bother when you can just buy another one fairly cheap? eBooks are digital files–tiny ones at that, just a few kilobytes, all told. It takes two seconds to upload an eBook to a server and make it public. That eBook will live there forever and can be downloaded countless times by countless people, all of whom will have the ability to send a copy on to countless other people without losing access to the original. Printed books have a shelf life. eBooks don’t. That means there is literally no limit to how many people can get illegal copies them.

Here’s what that means for the author: Hundreds and thousands, sometimes tens of thousands of dollars of lost royalties. In many cases, that’s a full-time income the author has just lost. Literally, a livelihood stolen right out from under them. And no, I am not exaggerating. In recent years, I have lost count of the number of authors I have seen hang up their writing hats because they just can’t afford it anymore. Many of them had to go back to seeking full time jobs, which is never easy, especially after you’ve been out of the workforce for a while.

To a reader just looking to pass the time, that one eBook is a few hours of entertainment. To its author, it’s hundreds of hours of work, not just writing it, but promoting it as well. It’s an on-going, full time job. Yes, we do it for the love of writing–for ourselves. But when we share it with the world, it becomes a product. It costs money to put it out there, and it needs to generate revenue, or it’s not worth continuing.


“How is it entitlement if I just want to read and can’t afford the books?? You should be grateful someone reads your books at all.”

I’m going to pause here for a moment to take a deep breath and master my emotions. Okay. First of all, that is the definition of entitlement. You can’t afford it? But authors should be able to afford to give away their livelihoods for free? You can’t afford it, so it’s okay to steal? No. It’s not okay. I’m sorry for your personal circumstances that prevent you from being able to buy a book you really, really want to read, but that does not make it okay for you to steal a copy. There are these things called libraries where they actually make books available for free. They buy them on your behalf, so the author doesn’t have to skip a meal, and then loan them to you for a time so you can enjoy the stories without having to shell out a dime. There are these things called book sales where authors make their books available at a much lower cost, or even free, where you can grab a copy totally guilt-free.

It just so happens, I currently have two of these floating around:

Catch Me is FREE at Smashwords until 7.31.2018, so feel free to check it out. Click the title, or the image to go directly to the Smashwords product page. If you feel adventurous, book 2 of this series is also discounted until the end of July.

Function:L1VE is FREE permanently at every eBook store except for Amazon. You’re welcome to download that one as well, as many times as you like.

See how this works? I, the author, make this book available to the reader and invite them to download from a legitimate bookseller. I’m far from the only one. All you have to do is go to Smashwords, set your filter to FREE and you’ll find hundreds, thousands of free titles right there for your enjoyment.

“How’s that any different?” you ask. Here’s how:

When a library purchases a book, it’s a sale for the author. They get paid for that. When they discount their own book, it’s their choice as a marketing strategy. Even free downloads (if they’re legitimate) can help an author’s career. Those downloads are tracked; they affect the book’s ratings and visibility. The higher it is on the ranking list, the higher the chance others will want to buy a copy, and authors get paid for that, too. Pirate sites, on the other hand, do none of that. They’re basically a black hole of nothing for the author.

As for being grateful, please excuse the profanity, but in this case, there is really no other way I know to reply, except to say, “Fuck you.” That is all the answer you deserve for even thinking something like that about an author who puts their heart and soul into a book, much less saying it aloud, to their face. So, at the risk of being redundant, I say again: Fuck. You.


“I just want to check out the author first to see if I like them. I don’t want to shell out money on a no-name and end up hating the book. I’ll buy a legit copy if I like it!”

It may surprise you to hear this, but this is not actually a valid reason for pirating a book. Authors and stores go to great lengths to give you every opportunity to check out a book before you buy. If you don’t look at the sample, that’s on you. That’s you deliberately choosing to turn a blind eye to the legitimate option in favor of piracy. It may also surprise you to hear that those “no-name” authors you are so eager to sample are the ones who are hurt by piracy the most, because they depend on their royalty income the most. They don’t have a solid readership to keep them afloat, or side income from book merch, or movie or TV series rights. They literally depend on every single penny they get from royalties.

It may seem innocent, but this is just another form of entitlement. “I should be able to read it first and then decide if it’s worth paying for.” Well, no. The very fact that you do want to read it first means it’s worth paying for. You don’t go to a restaurant and say, “Serve me first, and if I like it, I’ll pay for my meal.” You don’t go to a store and say, “Let me wear this T-shirt for a few weeks, and then I’ll decide whether it’s worth paying for.” For that matter, no movie theater in the world will let you in to watch a movie without buying a ticket first. eBooks are no different. If you pirate one, no matter how you justify your decision to do so, you are stealing. You are supporting a system that robs authors blind. There is nothing you can say that will ever make that acceptable.


“Holy crap, this is really awful! I hate that my favorite authors have to go through this. How can I help?”

Now that is the right response. 🙂 Thank you. I mean that sincerely. You’d be surprised how good it is to hear that someone out there actually cares, and even wants to help. If you really want to help your favorite authors, buy their books. That’s all. Don’t look for them on pirate sites. If you happen across one, or someone sharing a link to one, report the person and tell the author. It’s not easy, but there are steps authors can take to curb piracy–if they know about it. Tell people about your favorite books and when you do, tell them where they can be bought. Share with your friends when you see an author has a sale or promotion going on. It helps both the author, and the readers who might otherwise balk at paying full price.

Authors are not unsympathetic, believe me. Many of them will go to great lengths to get books into the hands of their struggling readers. But please realize we’re human, too. We have families, and mortgages, and medical bills, and this is not a hobby. It’s our job. We work at it non-stop, without breaks, vacations, and often times without support or encouragement. We do our jobs well, and we shouldn’t have to justify our need to get paid for it.

Thank you for your time.

Update: Publica

Hullo boys and girls, Alianne checking in again all quick-like because this was too good not to share. Remember this post where I talked about the new kid on the block, Publica? Well, I’m signed up for their newsletter and one of their most recent ones announced that they are looking for authors to publish their books through their systems now. Ground floor entry, if you have a book ready to release this year. For now, the process is to fill out an interest form here, and they’ll contact you with additional info if you’re chosen.

If you’re still not convinced, or if you’re as confused about the entire process as I was, check out the video below, which explains the technology in very simple terms. Hint: Pay very close attention to the resale capabilities, where readers can resell their copy of your book to others, and you get a percentage of that sale.

As authors, we’re always looking for new readers, but as self-publishers, we also have to look for better ways to sell our books. Call me a bright-eyed idealist, but I think this may be it. 🙂

Opinion: Addressing the Chaos

There’s been a lot of stuff happening in the book world recently that’s kind of sort of turning things inside out and upside down. It’s big enough that it warrants a post (warning: it’ll be long), so I’m going to address two things I’ve seen floating around: #Cockygate and the recent blunder by Amazon. But first, a disclaimer: Everything in this post is my observation and opinion. I will not be linking external sources because I trust that those who want to know more will find ample sources all on their own, and I don’t want to add to the viral nature of this mess. Basically, I’m chiming in, but urging everyone to do their own homework and not take my word for it.

So here we go…

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Smashwords Partners With Findaway Voices

On March 21st, Smashwords announced it was partnering with Findaway Voices to help their Indie authors with the beginning stages of audiobook production. In the blog post, Mark Coker shared the basics of the partnership and his observations on how audiobooks are a growing market and a new opportunity for a wider audience for Indie authors.

It was all great news. What the blog post didn’t share, however, were some additional details I later found in this Forbes article where Mark Coker contributed an interview.

Here’s the deets:

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The Amazon Vise Cinches Tighter

Don’t worry, this won’t be a rant, or an Indie self-pity post. My aim is only to present my observations. A couple of days ago, a fellow Indie author sent me a private message with a link to a blog post talking about Amazon’s latest hijinks. I didn’t think much of it at the time, since I was still half out of my head with the flu, but then I slept on it, and slept on it some more, and the more I thought about it the more it bothered me.

Take a look at the two images below. See if you can spot a difference:

I’ll give you a hint: Look at the green text in the Buy New box. See it?

The first picture is of the original edition of my paperback novel, published through CreateSpace. The second is the newest edition published through IngramSpark. And the two images together illustrate Amazon’s latest policy to disrupt the supply and demand equation to skew it in their own favor. Since they are both print-on-demand, there is literally no difference between a CS and IS book purchase, other than Amazon makes more money on the CS one. But the different ways they are displayed could make a huge difference in which version (if any) a reader will choose to buy.

It preys on a customer’s need for instant gratification

Amazon has built their very successful business model on two things, one of which is their ability to deliver your purchases faster and cheaper than any other retailer. By slapping on a notice that effectively tells shoppers they will have to wait longer for their copy of the book, they are creating an instant subconscious disappointment and dissatisfaction in the product before the customer has even had a chance to get it.

It creates an artificial sense of scarcity

Amazon’s second cornerstone of business is unrivaled levels of inventory. Amazon is Aladdin’s cave of wonders. They have anything and everything, and they have boatloads of it for people to buy. That’s what keeps shoppers coming back. The new notice on the product page sends the message that this particular item is out of stock, which inadvertently reflects badly on the publisher (in this case, the self-published author) for failing to anticipate demand.

It creates unfair competition

Okay, to be fair, this is Amazon’s own store, and they have every right to try to put their own products forward as best as they can. It’d be stupid of them not to. But it goes much deeper than that. Think about it. Amazon now has the largest piece of the market pie when it comes to books and eBooks. Every measure they have taken so far has been aimed to solidify their stronghold on that market share, or to increase it. They do it through exclusivity, through undercutting competitor prices (seriously, their ToS flat-out state that if you publish a book on Amazon, the price has to be equal to or smaller than at any other retailer), and through policies and algorithms that create advantages for those who play along, and massive hurdles for those who don’t. With this new measure, they are basically saying, “If you want to actually sell your self-published print volumes, you need to publish them through us.” This is why other bookstores don’t want to play with you, Amazon.

So where does that leave Indie authors? 

Between a rock and a hard place.

Once again, we are forced to either straddle the fence, or make a difficult choice between going wide, and going deep. If you publish through CreateSpace alone, odds are good your book will never be stocked on store shelves, because no store will want to buy product from their direct competitor. If you choose to publish through a different service, such as IngramSpark, your chances of getting a book into physical stores might be slightly better, but now it’ll have to jump through hoops on Amazon, which is still the biggest bookseller and generates the highest royalties income of all other retailers for most authors.

Nothing says you can’t do both. In fact, the blog I read advised just that: Publish your book both through IngramSpark and CreateSpace, and then contact Amazon and tell them to source the book through CreateSpace so it always shows as in stock.

But I have a problem with this strategy. It as good as flushes a chunk of the money you invested into an IngramSpark distribution down the toilet. It’s like you’re saying, “Hey, I spent a boatload to get these books published through this other source, but you guys don’t like it, so that’s cool. I’m just not gonna advertise those editions where I am most likely to get the greatest number of sales for them. Still friends? Sweet.”

Yeah, I’m stubborn, and not much of a team player (which is probably why I will never make any real money from book sales…). I deliberately priced my IngramSpark editions slightly lower to play Amazon’s algorithms so that the new versions would show up on top. I did this, because I want those gorgeous new covers to show up in search results. I didn’t want all that effort, months and months of hard work, to drop into obscurity. But I’m also not an idiot, and I am keeping an eye on this new development and making sure to let my readers know 2 things loud and clear:

(1) My books are absolutely 100% available at Amazon, and there is 0% difference in shipping & handling time between the CreateSpace and IngramSpark versions; and

(2) Those same books can also be found at other retailers, often times at a discount that might be a better deal than Amazon.

A Potential New Player(?)

By now, everyone has heard of Bitcoin. Bitcoin is all the rage. For a few days in January, even the news reported on the massive spike in value of Bitcoin, and Warren Buffet came out with a statement predicting its downfall (article here). To be honest, I rarely pay attention to the stock market, and I was only aware of the concept of Bitcoin in the vaguest possible way of it being a “fake currency.” Well, when that article came out, I started paying attention. I found a few more, read up on it a bit, with most of what I found going way over my head, but what I retained was this:

Bitcoin is like an apple tree. It’s one of several different kinds of trees, that just happens to have grown the biggest. But all those trees are rooted in a framework that is very, very interesting to me. It’s essentially a new system of virtual accounting that adds a third entry to the standard double-entry style of bookkeeping. That’s already confusing, so let’s break it down:

In traditional accounting, every time money changes hands, two entries have to be made in the books. The first is the money going out, and the second is something else coming in. That way, there is always a record of how much money is being spent and what it’s being spent on. In this new way of accounting, the third entry marks the transaction, which adds additional details. It’s not just what was bought and for how much, it’s who bought it, when, and where. As long as the purchased item stays within this realm, this record keeping then continues down the line each time it changes hands, so you can track a particular item from its most recent buyer all the way back to the production facility, and farther back to the facilities where all its different components and ingredients came from. It essentially records the total life of that item.

As soon as I read this, it hit me that this could potentially be the solution all authors have been waiting for: an end to digital piracy. If every single eBook were to be tracked this way, then every single pirated eBook could be tracked back to the original pirate. Not only that, the system could identify every single pirated copy and there is a lot we could do with that info, starting with disabling those copies and making them unreadable, and ending with having hard evidence for prosecution.

Fast forward about a month. I received an email newsletter from IngramSpark, telling me they will be featured as an exhibitor at the San Francisco Writer’s Conference. Since that’s in my neck of the woods, I checked out the event, browsed through the exhibitors, and found something I never heard of before. I clicked the link, and discovered that someone out there had the same thought I did, and is actually putting it into practice. There is this platform called Publica, which doesn’t seem to be open to authors just yet, but will be soon. It is built on, and will operate on the concept of cryptocurrency (like Bitcoin), and promises the elimination of the middleman, taking an author’s books directly to the reader.

Of course, in practice, that just makes Publica another self-publishing platform. It’s still questionable whether they would be able to compete with Amazon, Barnes & Noble and other eBook platforms, and I still have a lot of unanswered questions. I submitted those questions to them, and am waiting for a response but, if I understand this correctly, and if it actually works, then I want in. Now.

The concept of this new system of accounting is still in its infancy, but more and more companies are embracing it, and each time a company announces it, their stocks go up. The problem is, each of them has their own cryptocurrency, which is going to cause issues in the future, if every time you want to buy a product from one of them, you have to do a currency exchange first. My prediction, however, is that cryptocurrency will be the future. Once enough companies jump on board, the normalization will begin, and a unified currency will replace all the others.

For now, I see Publica as a pioneer. Whether or not they’ll be able to make it work in the long run isn’t even the point anymore. Could be in six months someone else will have put Publica out of business with a better, more streamlined, more accessible system. Could be this is a sign of a brand new industry being born. Publica is opening new doors, forging the path for others to follow.  The point is, the possibility is now there, and it is real, and I really, really hope it’ll help right some imbalances for authors, artists, musicians, and others who rely on the sale of their own unique products for a living.

It will also upset a whole lot of people for whom this means an end of an era, and those people will fight tooth and nail to keep it from coming to fruition. The ultimate potential for all of this is an end to money as we know it, which would put a lot of banks out of business, and majorly disrupt our stock markets, etc. (Plot bunny, anyone?)

Then again, it could also be nothing. Reminiscent of the dotcom era, it could all be a massive bubble that will eventually burst. I guess we’ll just have to wait and see. I will definitely be keeping an eye on this, for sure.

ETA: Here are the responses I received to my questions:

1. Publica is a distribution channel, so where does it distribute to?

Authors can use Publica and blockchain to publish their books. Authors can sell their books to Publica tokenholders / platform users and protome a book to their existing customer base. Once a book is published on the platform, readers will be able to find a book using search or by entering a direct link (that can be promoted by author). Authors can continue to use their existing promotional channels.

2. If my books are already published through another platform, will there be a conflict?

No, it’s not a problem. If there are no legal limitations that allow an author to publish a book only on a specific platform, a book can be distributed through several platforms.

3. Do readers need a special app to access the books? If so, what format will it support/require?

We are currently developing e-reader app that will serve double duty as wallet and e-book reader. The app will support popular e-book formats (like ePub).

Feel free to check our live AMA session, CEO Josef Marc answering question about supported formats: https://www.youtube.com/watch?v=DjAZg8_i8fo&t=2872s

4. If everything is done in PBL currency, how does an author redeem earnings in real currency?

Authors will be able to exchange PBL tokens to fiat money (for instance, USD or EUR).

5. Does the platform have protection measures against digital piracy?

By using a token as an access key to digital content, only actual tokenholders can access their purchased content. Readers (tokenholders) can give away or sell their tokens, and ownership/access to the content will be transferred to the new tokenholder. Blockchain technology is making the whole process transparent and decentralized.