With the introduction of YouTube’s notorious ‘yellow tag’, the search for an alternative platform has started. However, there has been no alternative that can compete against YouTube. Content creators had to resign their disappointments and adhere to YouTube’s strict guidelines. As YouTube is the number one platform for the greatest outreach of viewers, other centralized services such as Vimeo or Dailymotion are not an available option for content creators. However, the ‘yellow tag’ is not the only downsides of YouTube. First, the barrier of entry as a revenue-generating content creator is very high, which drives motivation down for beginning content creators. Second, the revenue sharing between YouTube and content creators are unclear. Lastly, YouTube does not reward the most valuable contributors to their platform – users.
A YouTube alternative seemed impossible until a Korean mobile service developer & provider launched the open beta of their video sharing platform ChainFlix. ChainFlix is a novel peer-to-peer video sharing platform which utilizes next generation technologies such as blockchain, artificial intelligence, and distributed storage. ChainFlix is intending to revolutionize the content sharing industry with their technological breakthroughs. The platform allows creators to truly own their content while advertisers, storage providers, and others can also benefit from the platform.
Distributed storages significantly reduce operational costs. At the same time, people can contribute and earn by sharing their spare storages. While, peer-to-peer storage has been an existing technology since torrents, ChainFlix’s AI-controller allows live streaming of the distributed video contents. Such cost reduction method provides more opportunities for other ecosystem participants to earn. For instance, ChainFlix’s patented mining-enabled video players allow viewers to earn while watching. Using blockchain implementation, the earnings are instantly paid out in a transparent manner unlike YouTube. However, viewers and creators are not only potential beneficiaries of the platform. Creators can allocate the mining distributions to content enhancers. Within ChainFlix’s ecosystem, enhancers can be translation providers, video editors, or anyone who provides value to original content. Advertisers can also benefit from the platform through effective outreach. The platform will allow advertisers to directly request for advertisement to creators. Now companies can easily find their target audience as each channel will have distinct demographic of followers.
Contending against YouTube would be a definite challenge for ChainFlix. However, whether ChainFlix can succeed in disrupting this industry would be crucial for blockchain industry to transition from speculative investments and development to an actual mass adoption. To find out more about this platform, you can check out their platform at http://beta.chainflix.net or join their telegram community https://t.me/Chainflix.