Millions of people got to know about the blockchain AFTER the popularity of this amazing cryptocurrency Bitcoin. But blockchain is not just for the application of cryptocurrencies. Blockchain technology has moved beyond the world of decentralized banking and digital finance. With the emergence of new and innovative business platforms and applications, blockchain is not limited to cryptocurrencies. There are plenty of new businesses that are built on blockchain technology and reaping the benefits offered by it. These businesses and applications focus on mass decentralization and are the future of the world. These businesses will create an impact on the entire world, its operations, and its functioning.
What Are The Benefits Of Using Blockchain In Content Distribution?
Blockchain’s main function is to support the distribution of the overall cost of running a platform or a business to its various participants. Besides, it will provide rewards for it in equal measure. The decentralized model for the business organization is based on blockchain-based solutions. These blockchain-based solutions include cloud storage, payment processing, and cybersecurity.
Apart from this, blockchain technology is also great when it comes to enhancing the content distribution concept. According to the traditional methods, the control of the content distribution was in the hands of content hosting companies. This thing made content craters powerless. But with the application of blockchain technology, the content creators will have full control of the content distribution. Blockchain technology features will support eliminating the imbalanced status. The technology will put the actual power in the hands of the content curators and creators.
Although blockchain technology became popular with the launch of the cryptocurrency - Bitcoin. But it has started expanding its services to various industries, businesses, and areas, including content distribution.
Flixxo is the best example in terms of decentralized content distribution services. As per the decentralized content distribution, users have the flexibility to earn cryptocurrency tokens by sharing a wide range of content across the network. The content can e blogs, podcasts, and videos.
If you compare the traditional method, it is used to portray the distributors and hosting companies and not the creators. But in the current scenario, blockchain technology has taken away the entire power from distributors and given it to the content creators.
You might be knowing about Youtube and various video creation platforms. These platforms take a share of your income or profit in return for providing you the platform for hosting the content, distributing it, and maintaining security. Millions of people are using YouTube and earning a living or huge profit from the platform. They are providing high-quality and engaging content. They focus on attracting users to the videos and channel. But the truth is, they do not get to enjoy the entire profit amount. You have to give away a share of the profits to the platform. Some people seem it to be a fair deal. Whereas there are many people who do not consider it to be the best part of the earning portfolio. YouTube is quite a popular platform and offers free video access that is reliable, free, and engaging. YouTube takes the responsibility of managing the logistics and creators just have to focus on what they find best - video creation.
Before You Know More About Blockchain Technology, It Is Important To Have Brief Introduction To Blockchain Technology And Its History.
Flixxo refers to one of the best-decentralized content distribution platforms. Flixxo will help the creators to present and share their content with specialized audiences. By specialized audience, we mean those who pay cryptocurrency tokens to fund and enjoy their projects.
How will the users get Flixxo tokens? They have to earn it through the platforms. Flixxo offers the participants to create videos on their computers available to the network. It is much like the peer-to-peer service BitTorrent.
It is a decentralized approach. When you use decentralized crowdfunding along with the hosting solution, the users can offload themselves from the overhead cost and responsibility of running the network. It is making the platform more lucrative and rewarding to take part for the users.
Blockchain-based solutions and services concentrate on offering all the essential security features. The best aspect of using blockchain technology is it is highly secure. Blockchain technology is extremely secure and making it impervious to hackers who can only reach a single node. The hackers do not have the access to affect the functionality of a whole network. It is just because of the decentralized hosting and encryption. It aims to make the system self-sustained.
In the current scenarios, the content creators have to suffer a lot while sharing the profit. It feels that they are not paid enough for their services.
According to our earlier example - YouTube Content Creators, we will represent a case study. Consider that Maria has earned approximately $13 million in the year through the popular channel YouTube. You might think that it is considered about earning from the content on YouTube, But understand that maria has more than 103 million subscribers on her channel. It means that her content is visible to almost one-third of the entire population of the United States.
Suppose every subscriber is paying her just 1$ for her content, still she would be earning ten times more than what is earned. So where is this extra profit going? How can she make her content more popular? Well, it is the distributors of the content who are reaping most of the benefits from content creators.
With the incorporation of blockchain technology, it will become more ubiquitous, those who once profited from managing centralized content hubs will no longer be able to exercise the same degree of control over the system.
In the future, the viewers or readers of the content will not be paying for the subscriptions but directly to the content creators. In this way, the content creators will have a lion’s share directly from their viewers on their channel. The blockchain ecosystem will take the creator’s system into the network along with the viewers. The earnings from YouTube through hosted videos will be distributed evenly. It will be a scenario where all will be happy to pay for what they are getting without any excessive charges.
Blockchain technology is aiming to create a cooperative system that will be adopted by millions and millions of users. It will cut out the charges of the middlemen. It will be advantageous to all content creators and consumers. Simply put, the consumers will not be paying exorbitant prices to get access to the content. They have to pay less for what they are doing now. Moreover, you will not be burdened with any irrelevant content.
Usually, the authors and content creators have to depend on the content distributors or the third-party platforms. The third-party platforms include content sharing, payment gateways, and various transaction platforms. If you are starting gout or have an established platform on digital platforms. The distributors will take a huge chunk from your actual revenue for their services. With the incorporation of blockchain technology, you will never have to pay anything for the distribution of the content. The technology will enable you to connect directly to your viewers. You can start by creating micropayments and keep track of it on your own.
You might have come across a plethora of copyright infringement, and piracy issues. These things are plaguing the industry and disrupting the business reputation for a very long time. With the help of blockchain, you can completely eradicate the issues of copyright infringement. The content creators have the flexibility to time stamp the content. Besides, they can easily apply personal stamp on the digital content.
You might be thinking of the watermark applications. But the watermark pattern is not very authentic and efficient. Moreover, it will not serve any real purpose. The blockchain will help in overcoming the limitation of watermarks and provide better results. Even if someone is using the copyright things, blockchain will help you to trace back the actual owner.
Blockchain technology will allow everyone to enjoy a share of the profit. This will include the stakeholders in the content creation or content publishing sector. The parties that contribute to the content creation and publishing task will maintain a digital ledger. This ledger will share the features of the blockchain. Everyone, right from the authors to publishers and various other participants, will get the remuneration for their work. Blockchain will allow people to have smart contracts. These smart contracts can easily perform the clauses according to predefined rules and automatically assign revenues to stakeholders.
Have you thought what is the main source of revenue for the publishers and authors? Most of you would answer - Books! But it is not so. There are many other features that work along with the books. It is the fanfictions, translations, or ancillary projects associated with a published book. The content creators can also use these things for profit.
Publishers and authors will have the flexibility to copyright all the ancillary projects and enjoy their share of royalties. But make sure that you have to market them well. if they are marketed well. Blockchain will help in simplifying all the tracking processes. It will eliminate the requirement to get permission to carry out a transaction.
Blockchain technology has enabled all smart contracts to perform several pre-programmed tasks and accomplish the conditions of an agreement. Smart contracts have the potential to handle and execute various aspects of content sharing. It includes reimbursing costs, remunerating, and sharing profits.
Blockchain can ensure a secure payment system for publishers and authors with smart wallets. The encrypted wallets will be able to deal with pre-defined cryptocurrencies or tokens used within an ecosystem of a project. Authors and publishers will be able to receive payment directly in their wallets without the need for a third-party executing agency.
Blockchain technology will improve the free and secure exchange of digital content. Readers and content creators will have the flexibility to own, sell and share the digital content ti whomsoever they want. Blockahintechnology will help you to track and keep a record of all the transfers of ownership. This will happen with automatic payments made into the smart wallets. All you need to do is to follow the present rules of blockchain technology. With the help of blockchain technology, you will maintain the copyright and ownership of digital content. It will help in reducing the overall costs associated with the supply chain of books.
Blockchain technology is a deep concept and you need to dive into it to have a better understanding of it. Blockchain is not limited to digital currencies or cryptocurrencies. It has a wide range of applications. You need to know in what way you can make the best use of blockchain technology. CoderzColumn will keep you updated with the latest innovations in Blockchain Technology.
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