Hyperledger in Business - Discussion

Blockchain Business Course
#627

Applying Blockchain to a Video-Sharing Platform

Objective:
Create a video-sharing platform that gives content creators more control and reduces reliance on centralized platforms.

Parts to Implement on Blockchain:

  1. Content Ownership and Rights Management:

    • Implementation: Store video metadata and ownership details on the blockchain.
    • Resolution: Ensures transparent, immutable proof of ownership, reducing content theft and disputes.

  2. Monetization and Revenue Distribution:

    • Implementation: Use smart contracts for automated revenue distribution based on views or other metrics.
    • Resolution: Provides fair, transparent, and instant payments to creators, eliminating the need for intermediaries.

  3. Content Verification and Authenticity:

    • Implementation: Use blockchain for verifying and timestamping video uploads.
    • Resolution: Ensures the authenticity of content, preventing fake or manipulated videos.

Parts to Keep Centralized:

  1. Video Storage and Streaming:

    • Implementation:Use traditional cloud storage and content delivery networks (CDNs).
    • Reason: Blockchain is not efficient for storing large files due to high costs and slower data retrieval speeds.

  2. User Interface and Experience:

    • Implementation: Centralize the app’s front-end and user interaction layers.
    • Reason: Easier to manage updates, provide smooth user experience, and handle high traffic.

Type of Blockchain:

  • Type: Private or Consortium Blockchain (e.g., Hyperledger, Ethereum private network)
  • Functionality: Provides controlled access, enhanced privacy, and scalability for the platform’s needs.

How It Works:

  1. Content Upload:

    • Creators upload videos; metadata and ownership are recorded on the blockchain.
    • Videos are stored on centralized servers.

  2. Monetization:

    • Smart contracts distribute ad revenue or viewer payments to creators based on pre-defined rules.

  3. Content Verification:

    • Each video upload is timestamped and verified on the blockchain, ensuring its originality and preventing tampering.

Benefits of Blockchain:

  • Transparency: Immutable records of ownership and transactions.
  • Fair Compensation: Automated and transparent revenue sharing.
  • Security: Protection against content theft and manipulation.

Centralized Elements:

  • Storage Efficiency: Centralized servers offer better performance for storing and streaming videos.
  • User Experience: Centralized control over the front-end ensures seamless updates and user engagement.

By integrating blockchain into these critical areas while keeping others centralized, the platform can enhance trust, fairness, and security for content creators while maintaining efficiency and user experience.