Our lives are dominated by the effect of online world nowadays. Social networking platforms connect us to the virtual world online. Different kinds of other online platforms are there to make our lives easier than ever before. Online Video Sharing is are one of the fastest growing online platforms.Its popularity could be traced from the fact that YouTube has 1.5 billion active users per month. According to some estimations, the online video sharing market is worth $312 billion.The generation of today spends a good number of hours on these online platforms especially video sharing sites. YouTube, Facebook and Instagram are the darling ones. But the present video sharing market is facing certain serious challenges which are needed to be sorted soon. These platforms are failing to manage the conflicts network different stakeholders which include viewers, creators, advertising agencies and their own shareholders. While watching videos, users are forced to watch advertisements in between because these ads are a big source of revenue for these companies. The users are worried about the security of their personal data. In this industry, the online platforms have to technical and operating infrastructure, a host of intermediaries and creators. The share received by the creators is quite low as reported. The creators usually face a lot of obstacles to make their place in the market as most of these platforms are centralised and creators have hardly any control over them. Some creators even use boots to increase their view, thereby creating an unfair marketplace for other ones.
The Solution
Website: https://verasity.io/
These challenges faced by the creators in the online video sharing industry are hindering the growth of the creators as well as these platforms by making the ecosystem an unfair marketplace. Verasity has come with a comprehensive solution to this problem. It is developing a next generation video sharing platform which will not only empower the creators but also improve the user's experience of watching online videos. They are building a decentralised ecosystem backed up with Blockchain Technology which will eliminate the role of intermediaries by connecting the creators and viewers directly on the platform.In order to ensure transparency and reliability, they are developing a proprietary named “Proof of View”. Every video view will be securely recorded on the distributed ledger system utilizing Blockchain technology. This will provide security, transparency and flexibility.
Fundamental Principles
Verasity aims to restructure the online video sharing infrastructure and the relationship between content creators, advertisers and viewers. The fundamental principles guiding the idea and development of the platform are listed below:
- A trustworthy, transparent and reliable video sharing platform.
- Enabling the viewers to view high quality videos from any corner of the world without buffering or playback problems.
- Giving the choice to viewers to decide whether to go for targeted advertising or not.
- Enabling the creators to upload, share, monetize and control their content on the platform.
Verasity Token Sale
The verasity platform is empowered by its own cryptocurrency named VERA token. It is an ERC-20 compliant type utility token running on the Ethereum platform. It will be a new medium of exchange on the platform and a means to make transactions in a transparent and reliable manner. The total token supply for the platform will be variable. It will be based upon the inflation target 3%. The ICO period started from 21st May and will last upto 11th July 2018.
Verasity Team
The team behind Verasity is a team of specialised professions who are expert in their respective fields.David Orman is the Chief Executive Officer and co-founder of Verasity.Mark Ramberg, Scott Brown,Jin Young Choi,Adam Simmons,Kyrylo Bybyk are some other notable names who are contributing in the development of the ecosystem.
Conclusion
Verasity is aiming to revolutionise the online video sharing industry. It intends to make it a fairer and transparent market by providing the right share to the creators and restructuring the market by making it decentralised. The ICO period of Verasity is in progress now. Hopefully, we will witness the positive changes soon after the launch of this venture.
For More Details Visit
Website: https://verasity.io/
Whitepaper: https://verasity.io/documents/verasity_whitepaper_eng.pdf
Telegram: https://t.me/verasitychat
Published by: karanj
Btalk Profile: https://bitcointalk.org/index.php?action=profile;u=1030341