CONTENT PROTOCOL: Revamping The Content Industry
Introduction
The internet is filled with contents, ranging from video contents, infographics to written contents. Before now, information was being passed mechanically and even manually but thanks to the advent of the internet, Artificial intelligence is now becoming the order of the day in the content industry. The creation, sharing and consumption of information is now done with a snap of the finger. Information changes hands each second. In the social media, TV channels, websites, blogs, etc, its either you are sharing information or you are consuming. This served as a golden opportunity to ventures and like a bee rushes to its hive, they all find their way into the then young industry. But as you would guess right, the fittest was able to survive. Hahaha! As if it's jungle. Well, the Tarzans in the jungle who could pave their way through wielded much power and thus, monopolized the industry. As one would expect, this brought some hard times nuts serving as impediment to the growth of the industry. Let's review some of them.
- The consumers no longer control what they consume. The few platforms are only interested in the contents of some providers who will be able to foot their bills. Yeah, concerned about the pocket and not the utility of the consumers which should even be put first. Not even an atom of compensation sometimes.
- The few content platform also play a monopolistic game in the sharing of data thereby making it difficult for people to have access to data. Those being shared are done under limited extent. And as we all know, data is vital for future business forecast.
But now, there's a way out. Have you heard about Content Protocol?
Introducing Content Protocol
Content protocol is a platform backed up by the blockchain technology for sharing of information and data leveraging on existing expertise and relationships with the industry. This project plans to bring new value into the contenet industry by doing the above.
What is the proposed plan to achieve this? How can they make this revolution happen?
Let's look into few points to solidify our claim that this project is going to be a boom in the content industry.
Public expansion: Competition is good in the health of any industry. Ask economists! Content protocols will make sure that the monopolistic nature of the content industry is halted. Halt the monopoly and see competition driving content prices down leaving the consumer with a substantial amount of consumer surplus to increase his walfare. This will be done by decentralization of the contents and data access.
Consumer compensation: Also, content protocols have the aim of giving back to the consumers for either leaving a review about a content or simply consuming the content. Thus, the consumer compensation is divided into two: review compensation and consuming compensation.
- Review compensation: to receive this compensation, consumers must be a consumer of the review aggregator platform and they need to pay a data usage fee. This surely not only help in the growth of content quality, it will also keep the consumer happy.
- Consuming compensation: This is the most exciting part because it's simple; consume and be compensated. The consumption activities aids in the ranking of the platform and thus give back the power to the people.
Summary
With Content protocol, the content industry is going to be revamped. All thanks to the blockchain technology, We can now share data, information and other contents trustlessly and get adequate rewards for your content. Consumers can now determine what they consume through their review and bring competition back to this promising industry. This is a project to watch out for.
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