Since music and film became digitized, both the RPAA and Hollywood have fallen victim to a multitude of platforms that have come into existence, making content freely available and accessible to people across the world, driving down profits and revenue streams.
But, with blockchain technology, there may finally be a means by which to harmonize the digital age with the entertainment space, ensuring that content creators are protected and that brands and companies receive a fair distribution of revenues from production and content distribution.
In the hopes of balancing the equation, Hollywood producer Andrea Iervolino is launching a new blockchain-based platform, TaTaTu, that intertwines social media activity with entertainment viewing. TaTaTu is a global and social entertainment platform through which users receive rewards for watching movies, sports, gaming, and other forms of content, as well as from their friends’ viewing.
Recognized for films like End of Watch, Apocalypto, The Merchant of Venice, and Machete, Iervolino hopes to bring Hollywood to the blockchain by integrating a 360-degree entertainment platform that ensures secure digital rights records, as well as the fair distribution of advertising revenue between users and content providers.
As the co-founder of AMBI Media Group, a multinational consortium of vertically integrated film development, production, finance and distribution companies, Iervolino’s vision is to develop a nurturing community of dedicated and engaged users who watch and create videos that can then be shared with friends and members of the community.
HARMONIZING THE SCALE
Thanks to blockchain technology, users will finally be rewarded for their social entertainment activity in an open and decentralized way – earning tokens to watch movies and other content for free, and receiving additional tokens from the movies and the content consumed by their friends.
Users can engage with their friends and be rewarded for their social media relationships by receiving digital tokens for views generated by both themselves and their friends. Token holders will also take active part in shaping the future of the platform, with the ability to vote on which content the platform should provide in a fully transparent and decentralized way.
The industry is no stranger to piracy and illegal downloading. Well, finally, content creators no longer have to worry about not being compensated fairly – or at all – for their work, because platforms like TaTaTu will monetize every piece of content based on effective user consumption and real-time views, providing for transparency and real-time financial reporting.
“Social networks and entertainment platforms are making huge profits by gathering data from their users and selling it to other corporations without rewarding their users,” says Iervolino. “There is a need for a platform that provides higher levels of transparency to their users, brands, and rights holders about the revenues generated and monetization of users. Audiences need free, legal and quality content with a simple user experience.”
Most content-based platform business models are centered around the idea that users need to pay for their content, which encourages users to find alternative, more cost-effective routes, ending up in the illegal marketplace (e.g., torrents and the dark web). “Well, no more, because TaTaTu is listening to the marketplace and adapting—giving free access to content and taking it one step further by rewarding users with an automatic monetization system,” says the Hollywood producer.
Advertisers can target specific audiences by placing their ads on a reliable platform with premium content. Brands get access to very detailed information about their audience. All user profiles are verified, and all the views and engagement metrics are accurate.
Encryption and Transparency
Thanks to its blockchain, TaTaTu can record each transaction in an open and incorruptible distributed ledger, ensuring that users and content providers get rewarded. A digital rights management platform will ensure that all talent, distributors, and studios have an accurate record of their work recorded and secured on the blockchain, reducing the percentage of piracy throughout the industry.
Charles Hoskinson partners with Polymath’s Trevor Koverko for building new security token blockchain
With Bitcoin [BTC] breaching its immediate resistance, the community is rooting for the largest cryptocurrency to breach the next resistance set at $8,000. This sudden pump in the prices of most major cryptocurrencies, especially BTC, was a hot topic at Consensus 2019, followed by the partnership between Charles Hoskinson, the CEO of IOHK, and Trevor Koverko, the CEO of Polymath.
The duo has come together for an initiative which aims at launching a Layer 1 security token blockchain called ‘Polymesh’. According to Trevor, there exists a gap in the market for a purpose-built custom blockchain for security tokens. Hoskinson noted that a normal public blockchain system is a homogenous system where regulators, issuers, buyers and sellers are subjected to the same rules and responsibilities. He adds on the design of the Polymesh:
By assigning the responsibilities to a part of the system, they would have the power to ‘maybe freeze’ a transaction, reverse it, and even view an audit trail, while the other part cannot. Hoskinson and Koverko noted that it was necessary for a system like Polymesh to exist for the Security Token Offering [STO] revolution. Hoskinson added:
“Furthermore there’s good evidence of that from just traction of STOs. There’s a desire to create liquidity, there’s a desire to create these assets, but where are they at CoinMarketCap, where are they at in terms of trading, they’re not where they need to be.”
Koverko and Hoskinson believe that this new system will benefit the STO revolution and thus, have to be built from the ground.
Facebook registers ‘Libra Networks’ in Geneva for developing blockchain technology
Facebook, on May 2, registered Libra Networks, a firm specializing in developing blockchain technology, in Geneva. This is their first foray into developing in-house blockchain technology and could have adverse effects on the crypto-market, if speculations are to be believed.
Recently, the United States Senate sent out an open letter to Mark Zuckerberg, asking details about their cryptocurrency project named “Libra”. This came out after they read about it in an article by the Wall Street Journal.
The project is likely to be released in the second quarter of 2019 and the development team was already set up last year. It is looking at introducing a coin which users can spend on its website or any other. According to the report by Wall Street, Facebook is also looking at backing its crypto-coin with the dollar reserve. This is done to make it less volatile from Bitcoin and other cryptocurrencies.
Libra will be looking at investing, payments, financing, blockchain and other technologies to work on via their newly established firm. The social media giant is in talks with all major payment networks like Visa, Master Card and more and is looking to raise around $1 billion for the crypto-project. The crypto research team is expected to be headed by David Marcus, the ex-PayPal president.
However, the crypto-ecosystem is skeptical of Facebook entering the crypto-verse. One of the reasons for this is their past controversies surrounding the sale of user data to third parties. Following the issue, people now allegedly maintain a notion that Facebook could repeat history and sell their private data to any third party and this could spell disaster for crypto-users.
India is one of the biggest markets for Facebook as India has the highest number of WhatsApp users across all markets. While looking at the crypto-market in India, Facebook may have to make large changes in its policies owing to the possibility of a blanket ban on cryptocurrencies in India.
Ava Labs Exits Stealth, Launches Blockchain Testnet Based on ‘Avalanche’ Protocol
Blockchain startup Ava Labs is coming out of stealth and starting to open up its blockchain network — backed by a new consensus algorithm — to developers and users.
Ava Labs is launching a private testnet of their technology today at Token Summit, one of the many conferences taking place during Blockchain Week NYC.
Though the blockchain network isn’t ready for real money quite yet, this step is notable because, for the first time, developers outside the organization will be able to put the new code to the test based on their “Avalanche” protocol that was released last year by a pseudonymous group going by the name “Team Rocket,” referring to the villains of the Pokémon game series.
Ava is releasing the code to their launch partners, who will be able to comb through it, battle-test it, and play around with it for the first time. The code will not be completely open sourced quite yet, as Ava Labs founder and Cornell professor Emin Gun Sirer told CoinDesk. Once the code has been “scrutinized” further, a public version of the testnet will be opened up for wider use.
Backing the effort is the $6 million that Ava Labs raised in February during a previously undisclosed funding round, when it won support from notable names in the venture capital and cryptocurrency spaces. These include Andreessen Horowitz, Polychain, former Coinbase CTO Balaji Srinivasan, Metastable, Initialized and Ramtin Naimi of Abstract Ventures.
Ava’s project forms part of a much wider degree of interest within the academic world in exploring consensus protocols that serve the same purpose of proof-of-work — securing transactions — but are more energy-efficient and have the potential to provide a basis for democratic development and the inclusion of more users in the consensus process. (Though it’s worth noting that some experts are skeptical that protocols with similar goals work in practice — so far, at least.)
Still, Sirer argues that Ava Labs’ implementation of Avalanche represents a breakthrough and a step forward for the ecosystem as a whole.
He told CoinDesk:
“We already have something that works and want to show people who are interested in it.”
Proof-of-work itself is revolutionary, Sirer contends, as it revolutionized what researchers thought were possible of consensus protocols for 45 years. “This third approach combines the best of both worlds,” he said.
He added that Ava is faster and more scalable, “allowing us to open up a new level of decentralization.”
A ‘different’ universe
Ava Labs also claims to have made another “breakthrough” that Sirer says is just as revolutionary as Avalanche, but hasn’t been revealed until today.
It boils down to this: in all blockchains launched thus far, all the nodes have to agree on certain criteria. All nodes utilize the same “scripting language” for smart contracts, for example.
Ava, by contrast, offers a “heterogeneous network,” allowing nodes across the system to have different properties. Essentially allowing different groups in the network to “plug-and-play” different features.
“This is a different type of a universe,” Sirer said, comparing Ava to other popular public blockchains like EOS and ethereum. “Ava has an interoperable framework, but then you have smaller and smaller universes of your own that have minimum properties.”
One could decide to add zk-SNARKS, a bleeding-edge privacy technology, in their own universe, for example. Still, it’s worth noting that some researchers are skeptical of Avalanche, the new concept Ava is putting into practice.
For example, ethereum researcher Vlad Zamfir debated Sirer about its features on Twitter back when Avalanche was first revealed. Zamfir’s opinion on the topic is held in high regard because he’s also been trying for years to develop a greener algorithm for etheruem, the largest smart contract blockchain out there today.