VideoCoin raised USD $ 50 million in private presale campaign for its token
This new proposal has the support of the founder of CNET, Halsey Minor, who said that the project could be very useful to address the problems experienced by television networks in terms of the dissemination of content.
The Streaming market has become increasingly successful nowadays, as live broadcasts pose much more versatile alternatives to mass content, displacing in part the role played by television networks, which are gradually perceiving monetary losses.
As a measure to address this problem VideoCoin, a decentralized project that is aimed at major companies and media for the transmission of content. The principle is that if a broadcaster or a television network transmits through the waves, the signal can reach many devices, but when this is done through the Internet, the signal is only picked up by computers that meet certain specific conditions.
Halsey Minor, executive director of Live Planet, said during an interview in Consensus 2018 that in the world of television "everything is very expensive and there is not a big margin of income". The company that represents Minor is a strategic partner of VideoCoin, an initiative that last week announced the completion of an initial pre-sale campaign (ICO) of USD $ 50 million.
Among the investors were Galaxy Investment Partners, Alphabit Fund, Science Blockchain, Anthoni Di Lorio (co-founder of Ethereum) and Randall Kaplan (co-founder of Akami). The sale made by VideoCoin was not open to the public, but a spokesperson for the project explained that soon they will announce more details about the public launch through the Telegram channel.
In this regard, Minor explained:
What we are building is the next-generation infrastructure for the way in which video and distributed services are processed. "
Minor, as founder of the website for CNET technology media, said the plan is to create a platform that allows broadcasters to send their video transmissions to the infrastructure of the unused computer, such as server farms that have excess capacity. not used for processing.
Within the long trajectory of Minor betting on technology emphasizes its support for Salesforce, as he bet that placing business data in the cloud could help to better manage the relationship with customers. Since then, the companies of this service line have grown exponentially, currently having Amazon Web Services as the dominant force within the space.
However, the decentralization of computer tasks could generate a reduction in the cost margins, so Minor explained:
I think that Blockchain could unleash a highly competitive market in the field of computing, in the same way that Salesforce changed the business software ... To do video mining, you do not need specialized hardware ... For that part we have a great opportunity. The difficult thing is going to be to build a block network that is very efficient. "
With the completion of the ICO for the sale of the token, the company announced that it would be updating its roadmap for products, as today they have new associations that would provide support for the adoption of the open source platform of VideoCoin.
To close, Minor commented:
The case of use of the Blockchain that will work first has to do with the commodification of the hardware. It is perfect for this purpose. "