For a long time blockchain was in play as the leading competitions against content powerhouses such as YouTube, Facebook, Snapchat, and Instagram. While mass-media expansion is still a force to reckon with, we cannot deny that blockchain presents itself as a new technology to allow for automatic tracking of the digital content. Additionally, blockchain is seen as a more viable approach to have content creators benefits for the distribution throughout its cycle.
Ultimately these factors could prove essential to the general population and even present competition to YouTube. As once a leader in all things video, we could finally see an end to the monopolistic nature of the video content industry. While we are talking about a decentralized platform for video marketplace, one blockchain venture is already pushing towards a monetized-video platform for everyone- advertisers, users, content creators, and publishers.
About PopChest And Its Network
PopChest is a blockchain-based startup that plans on implementing bitcoin micropayments to the world of video content. That will have the content producers receive income from viewer compensation in the form of cryptocurrency. In return, the viewer experience gets more robust by the removal of ads and decentralized viewing.
To achieve the monetization of the videos, PopChest will work through the POP network which is a decentralized approach to the video distribution. The system will have;
- Content creators uploading videos for null fees
- Signing up will require a Coinbase account, then upload their videos
- Users get a preview of the video before they pay for what they are viewing
- Once satisfied with the video, the user can pay for the video through a QR code where the Bitcoin payment is sent.
What Are The Benefits Of PopChest?
Two main sets of users will stand to benefit from utilizing the POP network. Here is what they can expect to gain
Benfits To Content Developers
- Access to a ready audience of viewers
- Direct monetization of their content without a third-party intermediary
- More contact with the viewers
- Low fees for uploading and transactions
- Copyright protection of their content thanks to Blockchain’s real-time technology.
- Creators can also receive extra funds in the form of donations from fans as finance for more content productions
Benefits To The users
- Ad-free videos
- Convenient micropayments for the viewership
- Secure transactions with spam protection
- High-quality content thanks to the regulation of the video content market.
- A reward scheme to award users contributing to the network and PopChest community.
- Overcoming the contrary assumption surrounding micropayments
- The POP network relies on the Ethereum network which has problems regarding efficiency
- The project's interface is also open to definite attack or fraud from malicious individuals
For video content creators, the pros of enrolling in a blockchain-based video platform seem to outweigh the cons. From the implementation of the smart contract, the creators can now have more say in how compensation for their work is, its distribution, and marketing strategies.
With PopChest I anticipate more benefits to present themselves along the way as video content continue to experience a shift in the monetization structure of the blockchain. In conclusion, PopChest is more than a sample of how much change blockchain is bringing to the world of technology and should perk the interest of anyone looking for more robust user experience and innovative video content.