What is Blockchain?
Blockchain is a method of storing information in such a way that it is virtually impossible to edit, hack, or manipulate the system. A blockchain is essentially a digital record of transactions that is replicated and distributed across the blockchain’s complete network of computer systems.
How does Blockchain promise a secured Web?
There are historically three stages of web;
Web 1.0 – Static internet where you could access or download information from the internet.
Web 2.0 – Virtual space where people could interact with the internet but also expose your data to the Social media giants.
Web 3.0 – Similar space as Web 2.0 but the user’s data is safeguarded by the Blockchain technology.
How would Blockchain technology help Content creators?
Decentralization, enabled by blockchain technology, destroys the monopoly of social media giants that consume nearly all advertising revenue. There are blockchain-based content production platforms that help to make the process transparent – artists’ benefits, whether monetary or otherwise, are proportional to the impact they’ve made with their material. Ten such platforms will be discussed in this article.
Here are some of the Tools developed by Blockchain exclusively for Content Creators
- Flixxo
Flixxo, a decentralised video distribution platform based on blockchain technology, liberates video content from the grips of YouTube, Amazon, and Facebook. These businesses have an unrivalled stranglehold on video content production, delivery, remuneration, and monetization.
Flixxo disrupts this model by assisting content creators in receiving direct payments from customers and linking them more closely with marketers. The underlying premise of blockchain-induced decentralisation is that Flixxo makes it peer-to-peer by eliminating intermediaries from the process.
FLIXX, Flixxo’s native token, uses Bitcoin technology to facilitate transactions between Flixxo users. FLIXX tokens can be used to watch films, exchanged with peers, and even spent outside of the Flixxo app.
- Content Box
Content Box (BOX) assists in enabling a unified payment mechanism, a shared content pool, and a shared user pool in order to break the major player monopoly in the digital content market. It protects users from incurring the lion’s share of the production costs as well as piracy. Users are also rewarded for curating content. For industry participants, the procedure reduces profit-sharing disputes as well as accounting and reporting operational costs.
Finally, for content creators, the availability of monetization channels grows, the payback period shrinks, and Content Box assures that payments are never waiting indefinitely. A quick and secure blockchain, a multi-party dependent payment system, and an identity and attribution service across various applications are at the heart of these solutions.
- Mycelia for music
Mycelia For Music is primarily a research and development hub for musicians.
It guarantees that earnings will be distributed evenly to all stakeholders throughout the life-cycle of musical content development. It also helps creators with metadata and monetary value for their songs
Mycelia For Music is the creation of Grammy-winning musician and artist Imogen Heap, who aspires to empower musicians with the resources they need to advance in their professions.
Mycelia makes certain that all stakeholders participating in the process receive full recognition and reward. It also seeks to ensure that commercial, ethical, and technical standards are upheld as the music services sector innovates.
- Steemit
Steemit is a decentralised social media software built on blockchain technology (DApp). The Steemit interface is similar to Reddit in that it has various forums for communities and popular posts, but with a bitcoin focus. It enables the growth of crypto communities in which users are rewarded for sharing their thoughts and opinions. To power the entire Steemit economy, three coins are used. The STEEM coin is used to make money by posting, commenting on, and upvoting comments on the Steemit platform.
The term STEEM POWER refers to the ability to stake or power up STEEM in order to gain more influence on the platform. Finally, there are the STEEM Dollars (SBD), which are pegged to the US Dollar like a stable coin.
So these were the tools that the Web 3.0 beholds. Can you think or know of any more tools? Let us know in the comments.
