The main popular blockchain sector is cryptocurrencies. The world of banking and finance has been challenged by the evolution of cryptocurrencies such as bitcoin. However, this technology has expanded its root to other industries. . As time goes by, blockchain developers are building other models which have a social impact on society.
Blockchain technology can now estimate the cost of running a single platform with the number of users available. Finally, the content creators get a reward in a certain equal measure. The decentralized distribution has squeezed its way to cloud storage, cybersecurity, and payment processing.
The transition of content distribution now depends on the decision of creators rather than the companies hosting it. Blockchain tech has disrupted the existing imbalance. Now the power of everything is in the hands of the content consumers and creators.
Turning Tables
Hosting platforms like YouTube allows content creators to display their work, and in return, the company gains from it. A YouTuber can drive a lot of traffic to their sites earn a certain amount of money, but the rest goes into the hands of the company. It isn’t easy to host your music or videos on your site because YouTube is popularly known. Most artists focus on what they do rather than where their videos will be hosted.
That’s where blockchain technology comes in to reverse the table. Developers have managed to create a decentralized content distribution called Flixxo. This platform allows the content creator to make videos and their podcast to a specific audience, who in return pays using cryptocurrencies. The hosting company divide the cost among the users and reward the creator heavily.
In addition to that, the platform has tight security. It’s difficult for hackers to break through the layers. There is no point a single hacker can temper with the whole network. Furthermore, decentralized encryption provides a reliable hosting place for the next generation.
Decentralized distribution
Are content creators receiving enough compensation for the number of viewers they get? For example, aA popular American Youtuber known as Pewdiepie got $13 million as YouTube revenue in 2019. On his channel, he has over 105 million subscribers. If each person decides to give him $1, he will earn ten times more than the amount he gets now.
But that is not the situation here, the Youtube algorithm divides the money, and the owner gets a small share. Similarly, movie actors get good money, but the distributor’s profit is much more. For example, an actor might be given $1 million for a specific role, but the studio, in return, earns like $100 million from ticket sales in theatre. As blockchain tech continues to get its way into the content industry, the big fish will not be controlling the whole system as they do now.
What about the Horizon
When everything is set right, the content viewers will no longer pay the subscription fee to the central organization. Instead, they will pay directly to the content creator, who will own the content. This automatically means creators will get more shares than they earn now. If YouTube allows blockchain technology to apply its algorithms, the hosting amount will be in the viewers’ hands. Everyone will feel good by paying the price for what they own.
The main aim of blockchain is to eliminate the middleman who gets more benefits. Any artist who has worked their way to get recognition will own their content. On the other hand, every consumer can pay a small price for only what they enjoy looking at. There is no need to pay for certain irrelevant videos that you are not interested in. Many large hosting platforms are currently scared of this technology, but it might disrupt their platforms in the next five years. It’s upon them to decide and employ blockchain in their algorithms.
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