How Blockchain is Disrupting Content Ecosystem
Various decentralized content distribution projects are now allowing content creators to use its platform to offer their contents to very specialized audiences as of early October 2017. The audiences, in return, should pay digital currency tokens to finance and access the projects of the content creators.
This decentralized model of content distribution is made possible due to Blockchain or distributed ledger technology (DLT). Under the Flixxo model, participants in the platform will simply create the videos on their computers that are available to the network.
The process is similar to the peer-to-peer (P2P) service called BitTorrent.
The potential applications of Blockchain technology or DLT are already expanding very fast. The use of Blockchain has started in the finance and banking sector as it served as a platform for the digital currencies such as Bitcoin, Ethereum, and Litecoin.
The adoption of the technology by various industries, however, has led to a wave of mass decentralization that is expected to have a major impact around the world. Among the current applications of DLT are cloud storage, payment processing, and cybersecurity.
Blockchain is really playing a key role in the decentralization of business operations. Under the decentralization model, content creators will receive a bigger share of the profits made from their creation. This is a complete turnaround from the centralized model, in which the content distributors get the larger share of profits.
This type of cooperative system is also expected to result in the elimination of the middlemen in business transactions. Under the system, a content creator will now have the opportunity to become famous in his/her own right. On the other hand, consumers can pay less money for the content they want to watch and avoid paying a single penny for unwanted content.