Blockchain application for content creators
There are many who think that blockchain-based business applications will soon encounter a bubble similar to that seen in the crypto market. However, technology continues to evolve and turn into new opportunities in various business areas. In the future, we can expect many changes in payment processes, cloud computing, cyber security, supply chain and many others based on the new business opportunities offered by blockchain technology.
The latter can provide the basis for an effective content distribution ecosystem. It can reduce the number of intermediaries and connect the content creator and the consumer almost directly.
New ideas for content creators
One of the most significant problems for creative minds is piracy. Even if you manage to make a great piece of music, you will soon see thousands of digital copies digitally swarming around the Internet. If consumers see that they can get something for free, they will be less likely to pay for it, no matter how low the price was.
To end this, the Open Music Initiative (OMI) plans to turn to blockchain technology for help, as it may be a possible solution. This will be a real “upgrade” for the royalty payment system.
Automating the payment process and issuing royalties to the rightful owner of the work is an ideal way to use smart contracts. The idea is to include all songs in a distributed register with all legal rights belonging to the rightful owner. Once a smart contract is executed, the musicians automatically receive a reward.
Dtube is an alternative to the dominant video platform from Google, YouTube, based on blockchain. The main page interface is almost an exact copy, which indicates that they are not only looking to provide a similar service, but also to completely replace the video service.
From the perspective of the video content creator, a significant difference between Dtube and YouTube is the compensation system. With tokens, videos on Dtube do not need to be advertised.
This is an advantage for consumers, because it means they don’t have to interrupt for annoying advertising. In addition, content creators benefit because Google currently takes 45% of advertising revenue, which is a significant reduction. The transparent token economy promises higher interest rates for creators.
There are blockchain platforms that offer tokens to content creators as well as community members who participate in the sharing of this content. An example of such a company is Flixxo.
Snapparazzi takes a different approach and uses a blockchain platform to help creative people who want to sell photos of interesting events. Their platform will allow creative people to upload their photos and videos, and news platforms will be able to bid on their purchase. Buyers will pay with fiat money, and creatives will receive SnapCoin tokens, which can prevent well-known journalists from migrating to new platforms.
Although blockchain has not yet been used to create a competitor to Facebook or YouTube, there are platforms that are moving in that direction. When people realize the benefits that a blockchain provides in terms of security of personal information and data control, they are likely to prefer social media based on a blockchain.
Content monetization with cryptocurrencies
Monetizing online content can be a great way to earn money. And you can get money for what you like to do. Сryptocurrencies can help expand the reach of content creators, allowing them to receive money from people around the world directly.
A quick run through the modern history of technology will help you understand that one of the main reasons YouTube’s success has been to monetize your videos. To this day, one of the main differences between this video platform and others is the ability to earn money by simply posting videos.
Other platforms, including the information resource Medium, followed the example and allowed bloggers to earn in the same way.
For people outside of developed countries, the possibility of monetizing content is very limited. This is due to the lower availability of financial services. Many simply cannot accept online payments and do not even have a home internet connection. In developing countries, most people do not have bank accounts, do not have credit cards, and almost all daily purchases are made in cash.
Obviously, this opens up an incredible opportunity for cryptocurrencies — Bitcoin in particular — to fill this gap.
Another huge advantage of crypto is that they can be used by content creators who are not comfortable with the current regime in their country. If their opinion differs from that of the ruling elite, the author can put sticks in the wheels every now and then. But with the help of crypto he can bypass this state censorship and still monetize his activities.
Due to the massive growth of online censorship and financial sanctions on creators of controversial content, various services and options have already been created to help them receive payments in Bitcoin and other cryptocurrencies.
It is worth paying attention at least to options like Bitbacker and Bitpatron, which allow content creators to accept cryptos through a trusted third-party platform like Patreon, which, by the way, often banishes crypto content authors. Bitpatron even supports instant donations and micro tips through the Lightning Network.
Bitbacker also offers many different crypto donation options for content creators. There is another more censorship-resistant way. It allows content creators to accept donations while maintaining complete confidentiality. In short, you can run your own BTCPay Server or LibrePatron channel.
BTCPay Server is a payment processing platform that allows you to accept donations and sell things for BTC. It has a payment interface similar to Bitpay, but it serves Bitcoin and Lightning Network micropayments through its own server using a full node.
LibrePatron is a great alternative to Patreon, which integrates as an add-on to the BTCPay server. With it, content creators can accept monthly bitcoin donations as well as fiat currency donations by connecting the Cash App payment gateway.
Such powerful tools can help make the Internet more decentralized, circumvent censorship and monetize their activities to content creators without access to banking services. The only thing left is for as many users as possible to learn about them. And there the courses of crypto will be tightened up.
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