MONVID: Decentralised Streaming Platform

Films, movies, series are among the most consumed digital content. In the last 2 decades, we have witnessed a lot of technological shift in how we access and consume videos. In this period we have gone from compact disks to more beefy storage devices like a memory card, flash drive, hard drives etc. The inception of the internet has even made this a lot easier since storage devices can be limiting in the number of files they can contain, these days people can almost stream any video from the internet from the comfort of the homes, while on vacation, or on the road with their smartphones, portable media devices, laptops or internet enabled TVs. There’s no boundary to the technological liberation the internet has brought.

Current Video Streaming Problems

Platfotms such as YouTube, Netflix, Amazon, Sky and so on enable users to watch and stream movies and TV shows online. The video streaming industry is a multi billion dollars industry which is evident when we consider Netflix for an instance. Netflix although established over 40 years ago went into streaming media in 2007, 11 years later it is rated among the 10 largest internet revenue company with over 11 billion in revenue. Irrespective of the huge amount of resources attributed to the video streaming industry, there are a lot of problems inherent in the industry that has limited users from deriving full satisfaction either from their subscription or the quality of content or service they receive. The current industry is centralised and as such it’s operations are limited, governments interference is commonplace, they occasionally block certain services from certain regions. There is also the problem of cost, current streaming subscription is high which limits a good number of people especially in the developing countries where data subscription is already high from subscribing. Even in the developed countries many users lack access to unlimited data subscription which makes them cautious of their data usage to avoid incurring additional network charges.

The New Way To Stream Videos

With the help of the blockchain technology, Monvid intends to bring unrestricted video streaming services to users that is cost effective, censor free and cost effective. Monvid is also targeting the developing countries where data subscription is expensive by delivering lower data size of videos which can be equally enjoyable when viewed with a smartphone. Monvid is leveraging blockchain technology to provide movie, series and TV lovers an unprecedented level of data privacy. Users will no longer have to worry about the security of their data since every information is stored in the blockchain immutable layer, same with content creators. Unlike in the centralised video streaming platforms where content creators transfer most of their content right to the platforms, content creators will exercise full right over their contents on the Monvid platform. Content creators will have full control of their contents and also determine the pricing.

Conclusion

The Monvid platform will be driven by the Monvid token (MVID) an ERC-223 utility token based on the Ethereum Blockchain. Users of the Monvid platform will be able to enjoy discount each time they use the MVID token to pay for contents on the platform. Content payment is not limited to MVID tokens, other alternative leading cryptocurrencies will also be accepted. There will be a total supply of 200m MVID tokens out of which 70% will be available for sale and the remaining 30% is set aside for the team, reserve and bounty programs. The tokensale is currently ongoing and more information about it can be found in the different communication channels.