MEDIA PROTOCOL: PLUGGING THE GAP WHERE CONTENT CREATION AND DISTRIBUTION HAS FAILED
Today, the penetration of digital devices into our lives has totally changed the way we live. Our smartphone through various apps is the interface through which we interact with not only multiple virtual worlds, but also with the real world. No one uses tv to get their daily dose of news from around the world when Twitter can keep you updated every day about what is going on. The smartphone is the digital version of the analog newspaper. To communicate with our closed ones, we use the Internet to get in touch at a very low cost and an unassymetrically high convenience. Goes unsaid how nowadays our entertainment has moved from the outdoor to coalesce on the screen. We get in touch with what is going on around our lives through social media. The internet is one huge information and data marketplace because it brings people together to interact.
If people spend this much time on their devices, it is only important to not only have them engage with meaningful content but to also create a healthy content ecosystem, seeing as is how integral it is to many people’s lives.
To put this value in perspective, we have to recognize that some of the biggest corporations in our time are technology-based. Most of these applications do not even have self-financing models but the amount of traffic they generate and the solutions they facilitate make them valuable in a different way, not valued in numbers. Take the case of WhatsApp for instance, valued at a whopping $19 billion at the time of its sale to Facebook in 2014.
Internet 2.0|Structures becoming shackles
The way information is shared on the internet is particularly interesting because of all the stakeholders involved. At the very least, there is an expected minimum for best practices from all the participants that is professional. The fact that it is unregulated, invites bad actors to take advantage of the lack of clarity. The digital economy is huge, there is no question about that, but when the rewards are asymmetrically assigned in a biased way, this causes a problem. A good example is the mechanics of how websites work. Most of us are able to keep up to date with the latest updates at zero cost. On the other side of the divide, most of these companies need capital to run on a daily basis, and to earn profit. Advertising, which forms the main component of the digital economy, offers a straightforward matchup between demand and supply. Add to this, the persistent inquisitiveness of government surveillance in our lives and we have a recipe for privacy invasion.
In retrospect, we discover that the problem can be traced down to the architecture of our internet today. All the data that sloshes around the internet is stored centrally and also has to pass through bottlenecks which are grey areas for corporations that want to reach too far. Blockchain technology has a solution to rebuild our disjointed online data marketplace. Media Protocol is a platform that seeks to bring value back to content creation and distribution by creating hard coded professional rules of how content is shared and how various stakeholders interact with each other.
Media Protocol| CryptoCatnip
Today, you can begin interacting with the internet in a new way thanks to Media Protocol’s innovative app, CryptoCatnip. It is important to note, that this is going to be the first of many apps that will be using MEDIA tokens. You can download the mobile application right now on IOS and Android and start interacting with the internet via a blockchain powered platform. CryptoCatnip’s innovative solution is created by the use of Smart URLs. Smart URLs are able to hold and distribute tokens, features that are activated depending on how the different stakeholders interact with it. Since the content is recorded on the blockchain, all aspects of it can be easily verifiable, the author, the history etc. By interacting with content on Cryptocatnip, you can begin to earn your first MEDIA tokens!
A screenshot of Media Protocol’s Android app
Blockchain technology is able to empower all stakeholders in the content industry to create and transfer value in a transparent manner. The content economy is composed not only of the content distribution but is also closely intertwined with related industries: marketing and advertising. Media Protocol removes the traditional intermediaries from the content industry’s ecosystem and instead distributes rewards proportionately to the involved parties. Media Protocol levels the playing ground for content creation, weakening the centralized entities in the content industry. Not to mention, the added benefit of data integrity, no longer is user data mined without one’s consent when they use a content distribution platform. There are no overhead costs for running the content publications, rather these are automated through P2P interaction and smart contracts.
In totality Media Protocol creates a novel way of interacting with content online, offering multiple incentives to all stakeholders to participate accordingly. You can say, this ushers in a content industry that can be held accountable.
The content industry is a blue ocean of opportunities and Media Protocol has partnered with some of the innovative blockchain companies in this space to create a rewarding end-to-end ecosystem.
Swipe is a blockchain project that seeks to restore equality to the digital economy and data privacy by empowering developers with modules to use to create an equitable digital economy.
Adex is a blockchain project that seeks to create a decentralized ad network. More information on Media Protocol’s and Adex’s partnership can be found here
Other partners are:
✅Bluzelle- a distributed dApp database
✅Quadrant Protocol-allows users to create and distribute data
✅Cardstack- open source distributed software ecosystem
✅LOKI-private transactions and decentralized communication
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