Section 2: Blockchain in video streaming industry
In our previous post (you can find here: https://steemit.com/videostreaming/@cryptohu/section-1-video-streaming-industry-characteristics), we gave you a comprehensive insight into the problems of existing, traditional video sharing platforms. Now we are examining what solutions the blockchain technology could offer for those problems in general. Today, we dive into specifics by scoping what blockchain can bring into the video sharing industry.
One of the crucial advantages of blockchain technology lies in decentralization. Opposed to the today known regular platforms, there is no central authority that has pretty much unconditional power to decide on monetization. Therefore, shares are calculated much more fairly for the stakeholders.
This helps providing more stable and foreseeable earnings for content creators. The more enticing these monetizing conditions are, it is more likely that users will prefer these kinds of platforms simply because they get higher interest to be involved.
The other important aspect is transparency.
Video views and clicks are tracked automatically and transparently on the blockchain ledger, ensuring that the logs are decentralized and immutable. It means that all the data is securely stored and can be accessible if needed. It is also makes the revenue calculation more transparent. Profile owners are no longer kept in the dark in terms of their earnings and it also makes it simple to sell an account. Thanks to the blockchain ledger, all the profile information remains crystal clear and it is impossible to fraud.
There are already some platforms out there in the video streaming industry that try to exploit the opportunities coming from decentralization. However, those solutions lack features in terms of monetization and they do not use the tools that encourage users to be involved in spreading content.
Stay tuned, because in the next chapter we will reveal our project’s core strengths and will show why its vision is more viable than competitors’.