Destream - A Decentralized Streaming Ecosystem

toluene (47)in #crypto • 6 years ago (edited)

Internet has developed into an integral part of human life in the 21st century. It has been a way of connecting, interacting and communicating with different people across the global irrespective of their tribe, race and believe. Aside from being a means of communication, interaction, information, and entertainment, it has also been a means of livelihood and income for several people and businesses.

The entertainment part of the internet is one with large potential and has continued to increase geometrically for years. The most lucrative of niche in this industry is the streaming industry, which is valued to worth billions of dollars.

What is streaming?

Streaming can be referred to as the act of broadcasting audio or video in real time as a continuous flow to different recipients to watch or listen through the use of the internet. Streaming covers different people like gamers, musicians, comedians, writers, and speakers etc, who create the contents to be broadcasted or streamed by viewers.

Streamers have donations, subscriptions and advertisements as the means of monetizing their services. The industry is one that is valued to worth billions of dollars and it continues to increase exponentially each year, with research showing that there will be a profit generation of $109 billion by 2.2 billion gamers in 2017 only in the video game industry (not to talk of the remaining part of the streaming market). Nevertheless, there are issues with the system of things in the industry. Some of the issues are mentioned below

The use of middlemen in any system does not only make the whole system of things slow but will also increase the cost incurred in the transaction process. The streamers work hard to create different contents which the viewers pay for through subscriptions or donations to their account or wallet.

The downside of this is that the viewers have to make the payments through the payment gateway (Paypal, Payoneer, Yandex.money) depending on the ones at their disposal, which forces the streamers to maintain different payment system. Apart from the inconvenience this may cause them, they also get charged with high interest rates by these payment gateways ranging from 10% above. They also face the challenges of many rules and restrictions from the payment gateways, like inability to withdraw all their funds at once or a waiting time of 1 to 6 months.

Another issue in the industry is transparency of the whole payment system. The present payment systems in the industry are not transparent enough to ensure that all transactions go down through the right channels and meet their purposes. There are scenarios of systems refusal to pay streamers or freezing streamers funds for diverse reason.

There is a palpable need change in the way things are designed in the industry and what other technology can offer innovative changes along with high level of transparency other than the Blockchain technology? The Blockchain solution to the streaming industry is Destream

Destream - the ground-breaking solution

Destream is a decentralized financial ecosystem that aims to disrupt the streaming industry by providing solutions to the industry’s inefficiencies. Destream is a project that seeks to exploit the Blockchain to create an ecosystem in where there is a direct link between the streamers and viewers by the elimination of middlemen (payment gateways) in the process.

By creating a direct payment link between the streamers and the viewers through the use of DST (Destream Tokens), Destream is able to eliminate the middlemen in the system, which automatically means a drastic reduction in the transaction fees and also eliminate the need for streamers to maintain multiple payment system to receive funds from different viewers.

Destream is also able to solve the problem of transparency through the use of the Blockchain which permanently stores the details of every transactions on a public ledger where everyone can verify it. The relationships and interactions of streamers, advertisers and viewers in the platform are also governed by smart contracts which create trust in the system by ensuring that both parties fulfill the part of the agreements before they both enjoy the benefits.

Aside from providing solutions to the obvious challenges in the industry, Destream also offers different innovations in the industry. With the use of Destream platform, streamers will not have to through the long process of converting their funds to fiat before they can purchase, but can now purchase directly with DST through the internal market place. Destream also provide streamers on their platform with the best tools for designing personal mechanisms.

Strength of Destream

Strength are the positive internal factors the project possesses that may increase it progress and development.

Unlike most projects that tends to compete with already successful centralized companies in their niche which makes it hard for them to be successful, Destream is not in competition with any of the streaming companies like YouTube and the likes but it's trying to integrate with those system and help make things efficient. This can be considered as a strength for Destream as it will easily get mass adopted because the streaming companies it is integrating with are already successful and will identify Destream as an innovative means to provide efficiency and get more users.