MEDIA Protocol: merging blockchain technology with the content creation
So you got an idea for a youtube channel or a blog, great stuff! Now what? You start creating your content, planning your schedule, finding your niches, find out what your audience likes and dislikes, great! You got a critical mass together, and you are finally able to earn some money.
Here’s where the things get tricky because platforms like Facebook or Youtube retain most of the benefits and profit share, giving content creators enough so they can continue putting out content.That’s not to say that the platforms do not have merit in the bigger picture, but given the current precarious business plans, a shift in the balance must be come to fruition. With the revolutionary benefits of blockchain technology and decentralisation, we can finally innovate in this sector, in such a way that’s fair for all involved parties.
So what’s the deal with the MEDIA Protocol ecosystem?
By merging the current audience economy with advanced audience reward systems and blockchain technology, MEDIA Protocol wants to usher in a more equitable content creation age. The current content creation model is primarily based on revenue that comes from commercials posted or shown on the content itself; the MEDIA Protocol platform envisions a world where users and consumers can pay the content creators directly.
By employing pure blockchain technology, users can rest assured that the content is tamper-free of any hidden algorithms that rank specific content higher than others. By doing so, likeable and noteworthy content will rise to the top as there will be an intrinsic exchange of value and reward going on at all times.
To make the current platforms work, a tight relation is knit between creators, consumers and publishers, a thin balance that’s proven time and time again that this is not the way to go. With the distributed ledger system, each party can rest assured that they have full control over their part of the system, without relying on some other third party to do their job well.
CryptoCatnip: the proof-of-concept dApp of MEDIA Protocol
To make this platform a reality, the team have created the first dApp based on the MEDIA Protocol ecosystem, namely the CryptoCatnip. As it stands, the dApp is crypto news and multimedia aggregator that runs on a decentralised platform. It currently helps you discover relevant content and get rewards for interacting with the media content. The more you interact with the dApp, the more tailored the experience will be as content interactions are registered on the blockchain to further recommend to you relevant content.
It also gives you the ability to earn and delegate MEDIA tokens to content creators that you enjoy. These tokens will act as a full-blown cryptocurrency that users will be able to exchange for fiat currencies. The dApp is free of charge and available for download right now (https://play.google.com/store/apps/details?id=org.mediaprotocol.ccandroid&hl=en)!
With a projected net worth of 412 billion USD by 2021, the content creation industry is booming, to say the least, but to find out more about this exciting project go to their Website, Telegram, ANN and Bounty Thread.
Thank you for reading my article.
Matthew Terry
Bitcointalk username: matthewtherry
Bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=1226724
Wallet: 0x16bae723358a1e640414dba296ebb28c98ef8f61
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Great idea and interesting review! Would you also be interested in reviewing World Wi-Fi project?
Great and interesting idea, where users and consumers can pay the content creators directly.
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