IPBC is short for Interplanetary Broadcast Coin. It is developing a platform similar to YouTube, where users can either upload or livestream video content, and an internal cryptocurrency that will reward the network's content creators. However, there are critical differences.
First, it is a peer-to-peer system with no central data server; videos are uploaded and downloaded between users' browsers, and there is absolutely no censorship. Furthermore, the service is completely free of advertising, and generates income through background software that mines its cryptocurrency while users watch videos. Video creators are rewarded in a more egalitarian way than on similar services, since the mining directly compensates them with each view.
IPBC has a very interesting idea, but it's not clear if it will have any appeal to users not already passionate about cryptocurrencies, or if the currency will maintain a stable enough value to be desirable.
What Is IPBC?
IPBC was founded in January of 2017. It is headquartered in Tenerife, Spain, and has grown to be a sizeable team; four senior executives manage a group of nearly twenty software developers and marketing professionals, and consult with three advisors.
Searching the internet for IPBC yields few results; it is yet to gain a substantial following on social media or receive coverage from major publications. Complicating searching is the fact that the acronym is already widely used, referring to a common chemical, a technology conference, and the Institute of Professional Bookkeepers of Canada.
IPBC Interplanetary Broadcast Coin Product
IPBC's main products are its namesake cryptocurrency and the Interplanetary File System (IPFS) video streaming service. The IPFS is likely the first blockchain for videos; the architecture means that content cannot be edited or removed once uploaded.
While viewing a video, users can mine IPBC coins, 90% of which are paid to the video’s creator; the company keeps the remaining 10%. The company states that a maximum of one billion IPBC coins will be issued; it's not clear how users will be rewarded once all of these are mined. Users viewing videos on mobile phones cannot mine due to concerns about heat generation and impact on battery life, and computer users must always consent to use their CPU for mining. IPBC is a CryptoNote based currency that is generated from mining, so there is no ICO sale.
The roadmap presented in the company's whitepaper mentions several interesting projects: the company is working on pattern recognition software to identify copyrighted material, and it also hopes to develop a solution for smart TVs by the end of 2018, which could be a significant step towards the product gaining widespread adoption.
IPBC's commitment to avoiding censorship could be dangerous; while advocates of free speech will applaud this decision, the site risks becoming a magnet for offensive or even illegal content that might severely damage its reputation. Further complicating the issue is the system's blockchain architecture; blockchains inherently cannot be altered without compromising all subsequent additions, so it would difficult or even impossible to remove any copyrighted or explicit material once uploaded.
The only feasible option to control content is to mark videos as private. The company hopes to assign proper credit to copyright owners whose material has been uploaded so that they can earn income through the site, but it would not be surprising if the company is the target of legal action by groups unwilling to participate.
IPBC Content Owner Rewards Opportunity
IPBC has an innovative idea, and the team behind it is highly accomplished. If the service generates enough interest, it could be a wonderful opportunity for video creators, since they earn a much larger share of generated income than through other sites. However, to be successful the IPBC needs to attract interesting original content, its currency needs to remain stable, and it must manage its reputation even while outrightly refusing to censor its content.
The IPBC Verdict
It's not clear if the public will be interested in IPBC; users not already interested in cryptocurrencies may not be eager to participate in mining, and any content appropriate for YouTube will likely still end up on YouTube. Users may also be put off if the site attracts explicit content and refuses to censor it. IPBC's unique idea has potential, but it may need more refinement before it generates widespread interest.