Several startups are developing blockchain-based platforms to decentralize the online video streaming industry. LBRY and Theta Labs are creating platforms that allow creators to publish videos and get paid directly by viewers in cryptocurrency, removing the role of third parties like YouTube. Stream is also developing an Ethereum-based platform for direct transactions between creators and consumers. These startups aim to make content distribution more efficient, transparent and fair for creators by leveraging blockchain technology.

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Startup to devise youtube on Blockchain
Technology is the key driver of growth. And the latest technology which has taken
the world by storm is Blockchain. Blockchain or DLT came into existence ten
years back, and since then it has evolved in the last one decade. Not only it aids
digital currency, but at the same time, the researchers and developers deciphered
other uses of the blockchain.
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The objective of this development was to create a platform which can ensure
seamless business operations. Moreover, having a transparent system provides
everyone in the system reaps the benefit out of it. There have been various
developments in this domain, many big names are working to explore various
uses of DLT, and one of them is the use of blockchain to build next-gen business
models and Content Delivery System for video streaming.
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Currently, the Content Delivery System industry is growing at a breakneck pace.
As per the reports of Theta Labs the video streaming market now accounts for
67% of the current internet traffic and is expected to reach 82% by 2020.
Various video streaming companies promise to create a system which is
decentralized and making it more efficient and effective. Here is a list of a few new
players working to create decentralised players in the market:
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LBRY-
It is a blockchain-based content delivery platform which aims at transforming the
monetisation aspect of the CDS by creating an alternate way to pay the creators
of the video. It would eventually challenge the current market leader YouTube.
LBRY will enable the video creators to publish their content online and make their
content discoverable by making small payments using LBRY’s cryptocurrency
token. The viewer’s pay the video creators in cryptocurrency token.
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In this system, the viewer and the creator directly interact with each other, and the
creator directly gets the money without the interference of the third party. To
understand the problems of the current content delivery system, LBRY has
brought in 4000 YouTubers which will help them understand the demographics.
An important parameter of hiring these recruiters is that they have 500000
subscribers. It again poses to be an excellent challenge for YouTube.
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Theta Labs-
The company already mentioned that the Content Distribution Market is going to
rise and with the intervention of Blockchain Technology we can ensure that the
market becomes evenly paid, transparent and open.
Theta Labs, a subsidiary SLIVER.tv which is a live video streaming company. It
is coming up with a blockchain-based platform which is a decentralized video
streaming network. The company aims at creating a revolution in the digital video
streaming market similar to what YouTube did in 2005.
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The company aims to address the most significant challenges of the current video
streaming industry. Currently, the biggest problem is the high cost of delivering
videos, and the problem seems to be expanding with the surge of HD, 4K, and
other high-quality video streams. The company is developing a blockchain-based
network which will enable the users from across the globe to share their video
contents with others in the system, while mining Theta Tokens.
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This new decentralized and peer-to-peer network will be more efficient and allow
high-quality streaming. All this will come at a minimal or no cost of content delivery
system infrastructure.
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Stream
This is an Ethereum based platform which has received funding of $5 million to
support this platform. The objective of this platform is to facilitate a direct
transaction between the content creator and the consumers. And guess what, it
comes at no infrastructure cost. The objective of this platform is to help the
content creators get the right share of their expense. It aims at saving the content
or video creators time while allowing them to get a fair share for their work. All this
happens without being subjugated by other video running platforms. STREAM will
allow direct interaction between the content creator and the viewers.
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The rise of so many startups in the content distribution system showcases how
blockchain is set to revolutionise all the industries.
Today YouTube stands as a robust Content Distribution System and remains
unchallenged, but with the surge of such blockchain based decentralized platform,
we can soon expect it to overtake YouTube.
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What makes Blockchain so inevitable?
The reason why so many companies are making an effort to come up with a
decentralized platform is to help the video creators get the fair share of their work.
In the current system, everything is centralised` and is governed by a third party
which not only consumes time but at the same time; it also creates an unfair
payment system. With the blockchain based system, we can expect to have a
system where there is no interference of the third party, and people can get the
right share of their work.
Learn more about Blockchain
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Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain
space today.
● Certified Blockchain Expert
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● Certified Ethereum Developer
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