It's no secret that there has been a significant shift in global viewing statistics that has seen a meteoric rise in the demand for online Video - on-Demand(VOD) and streaming services. Consumption of videos amongst other forms of entertainment online is a popular activity that has given consumers the liberty to enjoy their favourite shows, live broadcasts and even binge-watch movies at their convenience. The US based paid content streaming giant Hulu which boasted 20 million subscribers in 2018 is predicted to surpass 82.2 million subscribers by Q4 2019 in the United States alone. However, despite the staggering statistics and the sky rocketing financial values, these consuming platforms have operated in a cycle of data tyranny which practically cuts off the content providers from accessing the consumption data of consumers. This data is in turn used by the consuming platforms to predict user preferences and produce content that appeals to consumers, thereby enriching them even more. In this scenario, the consumers and content providers are cut off from the profit streams.
However Contents Protocol, a subsidiary of WATCHA is bringing consumers and content providers to the forefront of the focus. It is indeed refreshing that WATCHA is a company that knows their onions and has been in existence long enough to fine tune the idea of implementing a system that not only benefits the content providers but also the content consumers as well. It is also worth noting that every participant can utilize the platform whether or not they have knowledge about how the Blockchain works.
The Contents Protocol ecosystem is a platform that connects the content consumers, content providers and the consuming platforms, on the infallible distributed ledger system of the Blockchain to ensure that content providers can access the consumption data generated by their content consumers and the consumers who generate said data, are duly compensated for their content consumption. This is all made possible by applying smart contracts on the Blockchain which ensure that all transactions are carried out under absolute trust.
HOW IT ALL WORKS
In the Contents Protocol platform, there are 4 categories of users :
The Consumers : review all the content on the platform and all generated data is collected and handed over to the content providers
Review aggregators : collate review data which is used to recommend and rate content which may be music, movies, books for use on the platform
Consuming platforms : create cross platform applications that then provide content and recommendations for consumers based on the review data. These may be Android , iOs or even web based platforms
Content Providers : they produce all the consumed content on the ecosystem and have unrestricted rights to the consumer data which will aid in improved strategies for future production of content
There are also 3 datatypes in the ecosystem : review, consuming and metadata
Metadata is the general information concerning everything about the production process of a particular content.
Review data is the consumers complete insight concerning a content. In the content industry consumers are king and the general consensus about a particular content either makes or mars the project. This information is golden not just to providers, but to consuming platforms as well and for the first time in a long while, the consumers will be adequately compensated by Content Protocol Tokens
Consumption data is the complete information on the viewing history of consumers on various content which the consuming platforms up until now have hoarded and used to their own benefit without releasing any to the content providers. In the CPT ecosystem, this will become a forgotten issue as the Blockchain has made provisions for this exchange to be made on trust basis while also making it profitable to the consuming platforms as well as the consumers.
The consumers are equally compensated for their review and consumption activities
Review compensation: is simply the consumers incentives received for all review activities on the review aggregator. Other participants such as Content Providers who need access to this review data will pay a token for data usage out of which a certain percentage is allocated to the consumers who provided that data
Consumption compensation : consumers receive tokens for consuming content. When content providers who need the consumption data for future projects pay a token for data usage, certain percentages are remitted to the consumers who provided that data
TOKENOMICS
CPT, i.e the Contents Protocol Token, is the native trading currency for all consumption, review and metadata on the platform.
The CPT tokens are of 2 types in the ecosystem
CPT is the token used for payment of data usage, content and consumer compensation
CP POWERS are used by both consumers and providers to improve their experience in the ecosystem. It increases the token compensation of consumers, and is used for adverts by providers once activated. They can be cross converted at a 1:1 ratio at the participant's discretion.
The Elements of the Ecosystem include:
The Marketplace : the hub where prospective participants identify the components of the platform and create accounts to utilise their preferred service.
The Data Dashboard is the repository of all data within the ecosystem. Providers and consuming platforms can purchase access to this data dashboard on a subscription basis.
Cryptocurrency wallet : is where all participants carry out transactions.. Be it subscription to a consuming platform or payment for data usage as well as the channel for receiving all participation payments
Advanced critic mode : enables consumers give their reviews in real time while consuming a service
Watcha will be providing both review aggregator and consumption platforms in the Contents Protocols ecosystem. The Korean streaming giant, with over 7 years experience and millions of subscribers, is bound to experience exponential growth in years to come owing to this revolutionary idea behind the Contents Protocol Corporation. All currently existing subscribers on Watcha will be given tokens as the pioneer adopters of the platform.
Final Thoughts
In the course of this review, I have come to see and envision the endless possibilities this platform could present.
Firstly, I hope the cryptocurrency wallet will support straight conversion to fiat and also have the ability to send and receive CPT from external exchanges.
Secondly, most of the ideas are still conceptual and have a long way to go before getting implemented. So with the right strategies put in place I see it becoming a reality soon and taking over the world of content creation.
Connect with Contents Protocol on social media
WHITEPAPER : https://drive.google.com/file/d/1OJizH-oS8yxJgO-RPnUKJQiU45bW4I_5/view?usp=sharing
ONEPAGER : https://drive.google.com/file/d/1F-iiyB8Uwx0poMvaYYpTqWof3_jc5G3M/view?usp=sharing
Website: https://contentsprotocol.io
Telegram : https://t.me/contents_protocol_en
Twitter : https://twitter.com/contents_prtcl
Facebook : https://www.facebook.com/ContentsProtocol/
Medium : https://medium.com/contents-protocol
Author's Bitcointalk username : Cryptovixen192
Eth wallet address : 0xD8F7955b25708c9C8D309899C7F62c46E3e2c814