Current - Introducing The Blockchain Multimedia Platform

toluene (47)in #ico • 8 years ago (edited)

Project Introduction

Welcome to the 21st century, an age where information, communication and interaction between different people as been made easy. Gone is the age where information are only passed across to people manually (letter, postal billboard etc.), now communication across the globe is faster than the speed of light. People are just a few clicks away from interacting with their friends and family or accessing the information they need. All this would never have been possible without the invention of social media.

Social media is a game changer in the communication industry. The rate of usage of the internet is increasing swiftly. The number of internet users has grown well into it billions, which means more and more billions of dollars as profits for social media owners and internet providers.

There are issues nevertheless with this system of things, one of which is despite the huge amount of money these companies make from the internet user they do not reward the users but still spam them with a lot of ads to make more money.

CURRENT is here with an innovative and lasting solution to this issue.

Photo Source: pixabay.com

What Is Current?

Current is a project that seeks to exploit the Blockchain technology to create an ecosystem where users, content creators, and advertisers are rewarded for their time and data used on social media. Current will reward users for streaming the music and video they love on the platform. Users will have access to millions of music and video on the ecosystem at no cost.

Current won't be competing with the social media platforms like YouTube, Spotify, SoundCloud, music mix etc. but will integrate them into it ecosystem so provide a remarkable media experience for it users.

Current platform is not only created to benefit the users alone, but all stakeholders on the platform. The CRNC token is the medium of exchange on the current platform.

According to the white paper, the stakeholders on Current ecosystem are the curators, consumers, content creators, referrers and growth pool.

They all contribute to the ecosystem in different ways and all benefit from the in through rewards and satisfaction. Let me break down their roles;

Curators: These are the people creating the playlist and making it easy for users to find the type of content they desire. The curators earn 20% of the CRNC tokens generated from the ecosystem as a reward.

Content Creators: content creators are the owners of the content being streamed. They play a major role in the current ecosystem. By creating the content, they make the whole ecosystem work effectively.

Consumers: The consumers are the users responsible for streaming of the content created. They earn CRNC tokens by streaming the contents created.

Referrers: Referrers are individuals contributing to the growth of the ecosystem by inviting new users creators or advertisers, they basically contribute by making more people use the ecosystem.

Growth Pool: This a pool which holds tokens CRNC tokens in order to Guarantee liquidity of tokens and is responsible for appropriate supply of tokens in the ecosystem.

Comparison With YouTube

YouTube: A user who wants to watch a new but not so popular music video goes online on youtube to stream the video, he finds his desired video in a playlist and streams it live. He enjoyed what he has just seen and will have to stream again it if wants to rewatch the video.

Current: The same user decides to go through Current for his streaming this time, he is directed to the playlist after searching, he streams his video online but now he gets rewarded with CRNC tokens for streaming the video, the playlist curator also gets rewarded for his activities and the user can rewatch the video offline.

Current obviously offers more without taking anything away from YouTube

ICO structure:

Rewards are paid on the Current ecosystem using CRNC tokens, which is an Ethereum based ERC 20 token. These tokens are mined when a user views content on Current. The token sale started in February 2018 and ends in April 2018.

Token: CRNC

Token type: ERC20

Price: CRNC= 0.24usd

Hard cap: 36,000,000