Decentralized TV is yet another manifestation of the union between blockchain technology and the internet. In this article, we describe how it came into being and where it is going.
Decentralization is all the rage right now. With the rise in popularity of blockchain and cryptocurrency, people are starting to see the benefits of working without a central authority. Nowadays, it is possible to distribute and transfer power and not feel the need to involve central authority.
A vast majority of financial and governmental systems – many of which are currently still working – are centralized. This basically means that there is a singular high authority that has power over its management. An example of this would be a central bank. Lately, we have begun to notice the downsides of this long-running approach. They mainly stem from the fact that any central authority also plays the role of a single point of failure in the system. Any malfunction at the top of the hierarchy, be it accidental or deliberate, will inevitably have a negative effect on the system.
The thought behind the initial design of Bitcoin was that it would be a decentralized alternative to government money. Therefore, it does not have any single point of failure and that makes it comparatively more efficient, resilient, and democratic. The blockchain, its underlying technology, is the driving force behind making this decentralization possible. It gives every user an opportunity to become one of the network’s many payment processors. Ever since Bitcoin’s inception and popularity boost, many other cryptocurrencies (aka. altcoins) would appear in the market. Most of the time, they also utilize the blockchain in order to achieve a specific degree of decentralization.
In keeping with the topic of gradual changes, there is another notable change. Specifically, in the medium of television. And in this transition, you will find a connection with decentralization. Moreover, you will find integration.
The Internet’s impact
The Internet is responsible for facilitating the rise of a wide variety of business opportunities. At the same time, it was helpful with the increasing appearances of an array of new industries. This innovation also gave enduring industries the chance to completely reinvent themselves to adapt to this new era. In doing so, they introduce new services and solutions that were not possible in the years prior.
Following the arrival of the television, the radio would soon experience severe depression. In spite of its rival’s success, it would persist and eventually discover new niches that could allow it to subsist. After the Internet’s creation and inception, an abundance of holistic changes came with it. As such, the radio industry quickly found ways to adapt, turning to podcasting as radio’s equivalent of the Internet.
The bottom line is that the Internet is leaving its mark on a broad range of mediums. The technological age we are living in means that pre-existing systems need to adapt. If they refuse to or are unable to, they run the risk of becoming obsolete.
Changes in the television model
In this day and age, we are witnessing a similar change in the traditional TV model. We are at a point in time when we’re experiencing the transition from what was long-running to what is new and innovative. The way in which we consume television media is becoming more Internet-based than it has ever been.
Most – if not all – of the focus appears to be on Videocasts. The Internet Protocol television (IPTV) is the process of transmitting and broadcasting TV signals through the Internet. IPTV is providing a brand new way of incorporating the TV medium to the improvement of current online media outlets.
Youtube was the very first platform to deliver a new way to enjoy TV entertainment online. It is a video-sharing website that has evolved from simply a platform to upload videos onto managing various shows. Over time, the site would open up possibilities that the traditional TV model was not able to provide. YouTube got its start way back in 2005 and would quickly become one of the most popular sites online. Even today, it is still continuing to expand.
A large number of startups are showing an interest in the potential to spread video content through the web. Not only that, but they also have their eyes set on a new innovative vision pertaining to TV. Moreover, a “modus operandi” that focuses heavily on networks that are distributed and decentralized.
Examples of Decentralized TV
There are three noteworthy channels that relate to this trend of decentralized TV. Two of them go by the names of the protocol.TV and decentral.TV. The third is one that we will go over in a separate section.
TheProtocol.TV is a project that offers its viewers a multi-channel video network. One that effectively covers a large chunk of the global decentralization movement. The other project, decentral.TV also tracks the decentralization movement. Moreover, it covers new open-source developments and distributed technologies that are occurring around the world.
The primary intent of these projects is to highlight the innovative work of people around the world. Particularly, works that concentrate on the use of distributed technologies to improve life for their communities. In addition, both of these projects are strong supporters of Bitcoin.
Decentral.TV aims primarily to bring in an audience that is tech-savvy and familiar with the field. The aim of TheProtocol.TV, on the other hand, is to work towards information distribution. From this, they hope to attract an audience that is more mainstream and international. At one point, the viewers were waiting to see when these projects would integrate blockchain technologies. For that matter, when they would start to deliver the ownership to its participants.
It is important to note that both of these projects have not posted much content in recent years. While they still have plenty of older videos to watch, do not expect them to post anything new anytime soon.
Now, we can get into the third channel that is prominent regarding decentralized TV. What is especially important to note about this channel is the fact that it is ongoing. Unlike the previous two examples, which have since gone quiet, this one is still producing content for consumption.
This group goes by the name of YEN. According the official website:
“Most startups die because they haven’t built a real community around their new project. Don’t be one of them! Let us help you survive.”
At its core, YEN possesses a very strong belief concerning the construction of a community. They think that every founder, builder, creator, and entrepreneur who is building something should spend most of their time – particularly in the early-stages – building community. Whether that “something” is a startup, side project, or weekend ‘hustle’, building a community should take precedence over everything else.
“Besides,” they say, “how else would you know what to build (and whom to serve!) if you weren’t actually active in those very communities?”
The main goal of this group is made clear in the ‘About’ page on their YouTube channel:
“We help early stage founders, builders, and creators build their communities, fast.
And we’re building a community of those folks to solve this problem together!”
One of the figures who plays a huge role behind the scenes of YEN is John Saddington. This man is a popular face in the crypto community. In 2015, he was able to purchase a Lamborghini with his Bitcoin earnings at a price of $115. Lamborghinis are a symbol for crypto billionaires, so that makes his purchase all the more interesting. Saddington works as one of the counsellors for the 5-day YEN bootcamp. The breakdown is:
- Monday: Identity
- Tuesday: Trust
- Wednesday: Workshops
- Thursday: Money
- Friday: Graduation
TaTaTu is a platform that is working towards the adoption of digital assets by everyday people. Beyond this, it has a useful role in creating a monetary balance between users, content producers, and the business model. And it does so by incorporating crypto into how it works.
Conceiving the idea of TaTaTu was done by Italian-Canadian film producer, Andrea Iervolino. He is responsible for producing an array of successful films, like The Merchant of Venice and To the Bone. At its core, TaTaTu is a reward-based form of entertainment and social media platform. It provides its users with an assortment of digital content. The main plan of this platform is to offer premium content, such as films and popular television shows. If all goes well, any user will be able to upload original content in the future. TaTaTu is, most importantly, a platform that is user-centric and also rewards content producers.
This appears to be a sound system for decentralizing TV, but in what way does this connect to cryptocurrency? And for that matter, how would it even work? Well, the TaTaTu platform uses a special digital token system that rewards everyone who is making contributions to the ecosystem. As long as you positively contribute, by way of either watching content or producing it, then you will receive rewards. This is possible because it leverages Ethereum in its smart contracts to conduct fair and transparent advertisement payments. And it does so with TaTaTu’s native tokens (TTU).
Because TaTaTu is user-centric, it is no wonder that there are plenty of benefits for the users. They have complete access to a platform that offers high-quality content in exchange for watching ads. Moreover, the users will also receive revenue just from watching content. Unlike most other popular entertainment platforms, the user will receive a portion of the ad revenue simply from watching. In addition, users will receive revenue for any content that friends that they recommended the platform to watch.
Any layers of intermediaries and aggravations are all cut out of the system. By dedicating time and attention to the content (plus the adjoining ads), viewers are directly funding projects. And not just any projects; projects that they are passionate about. It is not like a system running on subscriptions. With those, you pay your monthly dues and leave it up to the platform to determine the exact distribution of subscription fees amongst projects. With a system like TaTaTu, how well a project performs is a direct reflection of the audience’s feelings about it.
Content provider benefits
It comes as no surprise that the biggest problem for producers of online content is piracy. As soon as you release content in digital form, there is very little control over where it gets posted. The act of pirating has an especially negative impact on smaller productions that may be experiencing financial struggles.
On the TaTaTu platform, though, content providers will receive substantial compensation for views through the incorporation of advertisements. This sets it apart from platforms such as YouTube that run on ads. Up until recently, they did not make any noteworthy distinctions between serious productions and low-quality videos. TaTaTu, on the other hand, will have a premium content tier to differentiate Hollywood-level content from a home movie.
With a system that focuses entirely on its users, the TaTaTu platform holds a great amount of potential. It has the capability to naturally construct a loyal audience. A by-product of the utilization of a blockchain system is very strong. TaTaTu is also in the process of building a Digital Rights Manager (DRM). These will effectively give content producers and distributors the ability to locate and enforce the viewing rights of their content. Payments and licensing rights undergo execution on a blockchain system. Because of this, TaTaTu’s platform provides the best in both organization and transparency.
All in all, the Internet is providing us with an ideal tool that is working towards enabling podcasts as Videocasts. Above all else, it is enabling freedom of speech and, of course, decentralization. The future of business and everything surrounding it relies on various technologies. These include the Internet, peer-to-peer torrenting, open-source platforms, and even cryptocurrencies. With them, they can open new doors or develop pre-existing systems.
We are seeing that the new online generation is already embracing the idea of decentralization. By doing so, everyone has access to creative content or better yet, they even share their own content. Therefore, if companies want to keep up, they will have to try moving forward and adapting to the changing times.