MEDIA PROTOCOL: The Content Sharing System

collinberg (6)in #blockchain • 6 years ago

The way we interact over the internet is determined by one primary activity – information. Whether you’re chatting on Facebook, streaming on YouTube or seeking for information on Google, you’re using and gathering information.

There are millions of videos, pictures and content on the cyber space. These were created by content creators and issued to distribution platforms for their dispersal. The problem there is that in the multi-billion dollar content industry, the key players (content creators and users) don’t get a cut from revenue generated by these distribution platforms.

Looking at the problems in the content industry, you’ll discover that there’s overt centralization which gives ultimate power over contents to content distribution platforms and partly to the content publisher without regard for the content consumer – you.

In the industry, three keys players are holding contents to ransom. These are content distribution platforms, social distribution platforms such as Facebook and search engines (such as Google) that gather behavioral activities of users. The problem isn’t in the collection of data but in the illegal use and sale of your data without your consent. To compound the problem, you don’t get any tip for your used data.

Problem Solver

The solution to this problem will be finding a way to return data privacy and use to the primary channel – you. A decentralized approach has to be used since the traditional content industry is saturated with centralized platforms.
With the core decentralized platform and disruptive channel being here, the blockchain technology will feature in the problem-solving. The solution was found in a decentralized blockchain platform known as Media Protocol.

Media Protocol will determine how you interact with contents and will decentralize the system; thereby return content powers to its players. The platform is bringing back your say over the contents you create and interact with by allowing content creators come up with quality contents, publishers with its distribution and users/consumers (you) with its use.

The platform will remove intermediaries/third-parties such as content distribution platforms from featuring in contents. Contents will revolve around you, its creator and publisher. With Media Protocol, you’ll have full access to your data and freedom to interact with content as you wish.

How it Works

The Media Protocol platform features a direct economy that’ll oversee content flow in this pattern: Content Creator + Content Publisher + Content Consumer. What this implies is transmission of contents from its creator to its user without any interruption by third-parties such as the distribution platforms in traditional content industry. With this, Media Protocol eases content sharing.

The platform was made to be an open architecture that allows content consumers, creators and publishers share content and other remunerative financial incentives. Coming to its economy, Media Protocol allows flow of content from its creator to the consumer and through this way; consumers can pay for such content and also get tokenized.

Smart URL

Contents on Media Protocol are converted to smart URLs. Verified contents are placed into the Media Protocol and further converted to Smart URLs for the purpose of tracking and rewarding its creators and issuing token-incentives to consumers for interacting with such content.

Ecosystem

From another perspective, Media Protocol utilizes the blockchain technology to attain security, transparency, scalability and total decentralization of its platform.

Rewards

Media Protocol issues token-rewards and incentives to content creators and consumers. It eliminates intermediaries (content distribution platforms) from its ecosystem and empowers key content players. That revenue generated by these distribution platforms are now spread to content creators and consumers.

The next time you comment on a post, stream a video or read up articles, you get your reward in tokens. Don’t bother about how volatile the token will be. The platform allows you change your token to fiat currencies. It’s a good way to reward you for consume content on the platform.

Portability

Media Protocol makes it possible for you to interact with content in the easiest way – through your mobile device. Media Protocol makes use of a dApp known as CryptoCatnip. Developed with react native, CryptoCatnip gives you access to contents on Media Protocol and features scalability that allow you use it in multiple platforms and scenarios.
Currently, CryptoCatnip is only available on Android and iOS devices.

The Token

The platform features an Ethereum ERC20 standard token. Known as MEDIA, the token will be used for rewards, incentives and transaction on the Media Protocol platform.
Ticker: MEDIA
Standard: ERC20
Platform: Ethereum
Type: Utility token