Current is an incentivized, blockchain-based streaming ecosystem that will pay you to stream Spotify, YouTube, and other media. Find out how it works today in our review.
What Is Current?
Current, found online at Current.us, promises to pay you to play “all your media”. The platform consists of an incentivized, blockchain-enabled streaming ecosystem that lets you choose how to stream and pay for your media.
The Current app is already available from the iOS app store, where the platform has collected 200,000 users. An Android version is coming in the near future.
The app promises to offer personalized music and video “of the future”. Users can search 160 million tracks and 1 billion videos for free, import their library from their favorite services, and enjoy free and legal offline music.
Now, with blockchain technology, Current promises to bring additional features to the platform.
How Does Current Streaming Media Work?
Current claims to offer “the next generation” of media streaming. There are three core functions of that ecosystem, including:
Current consolidates the best content and features from the most popular video and music streaming networks – like Spotify and YouTube – and combines them into an all-in-one, personalized experience.
The Current protocol rewards people for the time they spend streaming, collecting ad impressions, and sharing personal data. This protocol will be open for developers and third party providers to use.
Current will use a utility token called CRNC (pronounced “currency”) to reduce or eliminate premium subscription costs and facilitate ad purchases.
With Current, anyone can earn CRNC. All you need to do is stream your favorite content through the Current platform.
The end result is dramatically lower subscription costs for premium services. CRNC can be used to reduce or eliminate the cost of premium subscriptions to popular content providers.
At the same time, you can use Current to access your favorite content. Current has a nearly limitless content library consisting of music, videos, films, audio books, podcasts, and more.
All Current users will have their own CRNC wallet. You’ll receive that wallet automatically on signup. Current believes it will be the first cryptocurrency wallet many users will own.
Today, Current lets you search over 160 million tracks and 1 billion videos for free. Users can also import their library from their favorite services, enjoy 100,000 podcasts, audiobooks, and radio shows, or access legal and free offline music.
Current is also connected to popular streaming services from Spotify, YouTube, Soundcloud, 8tracks, Radio, Facebook, Instagram, Twitter, and more.
These features are all available in the mobile app you can download today. So why does Current need blockchain technology? How will Current use the blockchain?
Current will use the benefits of blockchain technology across two phases, including enabling user contributions on the platform and to reward them for their time, attention, and consumption. The end result will be decentralization and transparency in all content distribution, payments, goods, and services.
Current will initially use the Ethereum blockchain.
Obviously, whenever users earn money in exchange for streaming, there’s going to be potential for fraud. How does Current plan to avoid fraud? The platform has 8 indicators that will automatically detect and adjust the rate at which the participant is earning CRNC tokens. If a “bad actor” is automatically detected, their contributions will drop to zero.
Current Features And Benefits
Overall, Current aims to provide a more convenient and thorough media search and discovery process. The platform combines different content sources into one place. Some of the key features and benefits of the platform include:
More Convenient Streaming:
Traditional content networks like YouTube and Spotify are limited by content hosted on their platform. Current uses APIs to access multiple content libraries.
Keeps Up With Culture:
Current integrates with external media networks to meet the demand for popular media only available on proprietary networks. The use of third party libraries gives Current a better ability to add or remove libraries as they fluctuate in popularity.
Reduces Barriers To Ownership:
Current aims to introduce blockchain technology and cryptocurrencies to a mass audience by reducing barriers to ownership. Everyone who downloads the Current app will have a CRNC wallet. This can spur mass adoption of cryptocurrencies.
Current has features like a “preference profile” and a proprietary recommendation algorithm to suggest the best possible songs to users. The recommendation algorithm uses content based filtering and collaborative filtering, among other features, to determine in what media users are most interested. It also uses machine learning and neural networks to improve recommendations over time.
The Current CRNC ICO
Current will have a fixed total supply of 1 billion tokens. Those tokens will go towards the token sale (35%), mining rewards (35%), the team (12%), community growth and strategic partners (10%), advisors (5%), and the Current Foundation (3%).
The ICO is scheduled to begin with a pre-sale from February 7 to February 21, 2018, followed by a main ICO from March 14 to April 4, 2018.
Who’s Behind Current?
Current’s team has 4+ years of experience building consumer and media products. The company has generated tens of millions of app downloads and tens of millions in revenue.
The founding team includes Dan Novaes (CEO), Kiran Panesar (CTO, and Nick McEvily (CPO). Meanwhile, the list of investors and advisors includes Mark Cuban, Galia Benartzi, Eyal Hertzog, Danny Johnson, and Dave Hoover.
Current aims to disrupt today’s media streaming landscape using a unique media platform and a cryptocurrency called CRNC (pronounced “currency”). The platform will stream data from multiple streaming services in order to provide the best video and music recommendations to users. Furthermore, users can earn CRNC tokens in exchange for listening to music – and earning ad impressions – through the platform.
The token sale for CRNC is taking place from February through April. To learn more, visit online today at Current.us.