• Decentralize video sharing solution would benefit from tracking users and followers of video posters (along with their appropriate attribute - such as like and subscriptions) in a blockchain. Since that is the most import aspect to content providers and impacts their livelihood, it makes sense do save that information in an indelible database format like blockchain - that allows you to "rebuild the house" if something goes terribly wrong.
• Tokens could be used to compensate content creators for views (ad revenue sharing), or to pay for premium content.
• Video content itself could be handled by some scalable high performance platform so that video can be served jitter-free and be able to keep up with evolving higher resolution video formats. I would likely deploy the video content in multiple regional distribution centers to ensure low latency transmission to the viewers.
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I suppose 2 main parts in the business:
1/ daily (or frequent) videos, to be viral: lots of connections, by followers, and more and more expected ==> attracting advertisers in the realm, maybe from others realms along with developement of virality
==> lots of daily (or frequent) connections, processed by followers,
==> this part have to remain centralized (lots of data), then billings of advertisers must be shared with centralized platform
2/ derived products: a small part of non-paying followers, from 1/, become interested in customized services against payments (like training, private counsels)
==> few connections, few transactions in the day to day life
==> can and must be decentralized, then blockchainable: added value is only provided by internal people, who can keep almost all derived revenues ( - costs of smart contracts dev.)
The hype is made through a centralized platform in 1/: ads revenues have to be shared with it.
Then, derived products, with a high added value, can be sold to some customers attracted in 1/: blockchain and smart contracts needed here.
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Viuly is the first video platform in the world to pay users to watch free videos. Viuly’s blockchain based video sharing platform is fully decentralized and has no single point of failure. The platform is built on the IPFS protocol, which allows storing files in a distributed network without a shared control center.
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In terms of the video example, tracking of royalties for paid creators. A certain number of views entitles the creator to compensation and blockchain could help keep track of this.
My example was different from the video industry. I thought about how tax forms in the US could be integrated with the blockchain and a persons social security number. People who work with different companies throughout the year may receive different tax documents, such as W-2s or 1099s. When tax season comes around, it would be much easier to file taxes online with the integrated blockchain as its kept track of your earnings. More practice and work on this concept could possibly eliminate taxpayers the burden of doing taxes every year.
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The problem I could try resolving in video streaming is reward -I can only speak from experience watching videos on a platform such as YouTube. Personally, on many occasions I have felt that the creator of the video deserves more credit than others (with similar content) with more ‘likes’ as their content greatly helped me but all I could do is like the content and leave a comment. If there was an option to reward the content creator in a way that would give them a greater monetary award I would have done so. So, the idea of being paid/rewarded (as a viewer) for putting up with the often annoying adverts before watching a video is not too bad at all. Even if this is just an internal credit system that can only be used by viewers to “vote” for a content that has been beneficial to them. This in turn may be used to acknowledge the hard work of the content creator. It is, of course naive to think that people will not try to abuse the system, so I guess the only option is to limit the credit that a single voter can allocate per video/content creator even if they watched multiple times. Votes linked to content trigger payments and score higher on the advertiser’s list of preferred youtubers.
As of the videos - they should be kept on the centralised system as BC may not be suitable for heavy traffic or perhaps as shared content from personal PCs (torrent like)
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Great response @tornalis - clean, concise and informative. I would agree from a business process engineer POV - modular would be the way to go. Possibly even finding a way to create on an ecosystem that focused on media of all sorts. Would something like a parachain work here?
I would like to start from the perspective that not every YouTuber is a business professional as many of them are creators. Essentially the key word here is that they are creatives and do not process information the same way as a business or a technologist would. In my own personal education in a creative field coupled with my professional experience working for News Digital Media/News Corp back during the dot.com ear. M in Art/Media/Fashion many of them still are not optimizing their content.
Pain Points for the Creative:
- Ban of content
- Loss of followers
- Lack of knowledge in business to monetize the space
- Lack of in-depth advertising/marketing techniques that YouTube’s algorithm rewards
- Current offerings are still limited, out-dated as we move forward into the world of blockchain technology
- Expensive storage costs for content creators to store files locally
- Lack of deep knowledge of media files and the tech behind them to store them efficiently
Blockchain can be used to solve some of the pain points. We are currently witnessing it with the NFT mania going on at the moment. Many creatives problems can be solved by moving to this technology. To name a few…
Proof of Art (PoA) - to confirm they are in fact the creator and it’s not a counterfeit
Monetizing the video or creation with a token payment
Loyalty to your followers through airdrops for those that follow and or save, buy your content.
Videos need of course can remain centralized due to the size of the files with the flexibility to have an optical library system available, it was a solution we used at foxsports.com when I worked for them and it seemed to work well for the team.
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Here is the super-simplified model:
On centralized servers:
The video data. If we take Youtube as an example, 400+ hours of videos are uploaded every minute. Those processing and storage requirements just don’t work in a decentralized network where every node would need to maintain a local copy of the database.
On the blockchain:
The monetization platform. This would include the transaction data for the views, clicks, likes, ads, and the rewards that could be dealt with by smart contracts and tokens. That way, the content creators would be fairly rewarded and wouldn’t have to trust a central authority.
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What i find troubling is that youtube can shadowban videos that dont fit a certain agenda, creators and channels that once had tons of views are sometimes being shown less and get less views and audience, so a consensus alghorithm update for fair and transparency, also find ways to let smaller creators be seen easier then just promoting the big ones. Adding a token and ways to earn money on the platform would also draw more usersthat lead to growing the platform and also incentivize small creators to keep going.
Also do subscribers even matter if you have 100k subscribers will all 100k be notified when you upload a video? i dont think so , ive seen a lot of creators that show 80% watched by new viewers 20% by subscribers. this must be fixed to otherwise why the need of the subscription button.
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I would like to have open information about how many viewers watched the video. Today, we must trust youtube.
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Hold only the video itself on a centralized platform. keep everything else centralized, users, creators of videos, viewers should have incentive to use the platform and get rewarded with tokens, which they can stake and vote for what content should be published and so on, also by staking get passive income.
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I think a hyperledger having both public and private blockchain components might be the the answer. I am thinking there could be private blockchains within the public blockchain. Perhaps these private blockchains could be communities of the people who liked the videos to insure monetization. However, within the private blockchain community the videos could be centralized. However, in the public blockchain community I think they could be decentralized. Then we might have a really efficient way to monetize without having such a large amount of videos. If you like the video, you have the opportunity to like other similar videos based on the SEO (Search Engine Optimization). A member or a node could be part of multiple private blockchain communities. However, the public blockchain would eventually have some or all of their videos taken down yet they could be supported by the private blockchain. Therefore, just like with SPV technology where you have part of a blockchain on your phone and it could be queried, perhaps the private communities could be queried if someone in the public blockchain is looking for a video that was taken down because of being decentralized. The private communities could be by invite only and/or an algorithm involving AI (artificial intelligence) and/or likes on the types of videos viewed. The private blockchain could be based on invite only or requests from public blockchain members modeling the 50% + 1 to reach consensus for new members to join and/or query videos. I think a sort of centralized archive public blockchain running along side the main blockchain (similar to the some of the goals of ChainLink) could also allow there to be a better solution. Ideally a hybrid version of a public/private blockchain where perhaps the is at times consensus between the public and the private blockchain would really solve this and provide a solution.
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The data intensive video files would have to be kept on a centralized server but many functions of the video service could be controlled via blockchain. On the bc could be the verification of likes, number of subscribers, advertising, and payments based on those metrics.
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Hyperledger in Business - Discussion:
The parts of a video sharing platform that I would place on the blockchain are:
- Smart Contracts relating to the rules of usage by all stakeholders, flow of value relating to fees, and payments. the state of each transaction, in summary, business terms, and conditions.
- I would also place on the blockchain the shared ledger detailing a record of tx’s, fee’s charged and paid, income earned and payments made, auditing and logging, etc.
- Also on the blockchain relating to Trust, the ledger would be distributed and endorsed by users and stakeholders.
- To ensure Privacy all personal data relating to stakeholders and users, authentication and verifiable tx’s would also be placed on the blockchain.
All videos would be stored on a centralised database with links placed on the blockchain triggering smart contract execution on clicking.
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I think the best solution would to be to use an API to connect YouTube to a decentralized consensus algorithm uses a system where every participant has an overlapping set of trusted validators and those trusted validators efficiently agree on which transactions happen in what order that allows for creators to delegate the currency off choice. This will allow for future of CBDCs to be interoperable with public DLTs allowing for a YouTube content creator DAO.
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The decentralized YouTube case.
The things to be included are no censorship and free for all to post and share. Make it accessible to the whole globe so that someone sitting in China can learn about the world from a Latino’s perspective. We would also need to make its UI very friendly as if it is not easy to use people will go back to the centralized infrastructure.
The operating cost for such an undertaking will be high.
Subscribers can pay through their wallets with crypto.
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Topic: How would you utilise blockchain to provide a platform like YouTube?
Performance for the end-user is a critical for me, so I would store the videos centrally, to ensure streaming quality is optimal.
Would implement a blockchain solution as the permission-less and uncensored platform for users, content creators and advertisers.
Creative a native token that can be used by users to buy “premium/subscription” content from content creators, and used by advertisers to pay users that watch advertise and to content creators who embed and advert into their videos.
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Well the a problem are the payments, those are quite easy to solve with a cryptocurrency so you get paid if the smart contract says so. But the real problem is the content because you keep needing a centralised database so I couldn’t come on to the full solution on my own. But we can start with the payments and go from there.
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Exercise: What part of a video sharing platform I would and would not put into a blockchain?
Blockchain: There could be some kind of centralised database along nodes with approved performance (storage space / network speed) to store the content and get paid with tokens.
Blockchain: Token transactions. A native token to incentivise users to view and like videos, pay for premium membership plans, pay content creators for views, likes and showing ads within the videos.
Centralised: I think some kind of centralised moderation system would be needed to monitor content and comments to keep things legal.
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