If you have followed our climb to the top from the very beginning, you would know that DECENT was originally created with the content distribution industry in mind. Part of our vision and vigor has always been destined to create a more transparent, better-balanced payment system for content of all kinds. Naturally, with DCore as the platform, our attention keeps content in its heart by providing an alternative system for content creators, powered by blockchain.
This is why we are thrilled to highlight two of our key partnerships moving forward with companies like Fiction Riot and Filmzie (click to see our press releases).
Fiction Riot is a user-based storytelling platform that is transforming not just the way we pay for content, but also the way we consume it. Ficto, their first subscription-based app, focuses on a shorter series of 5-7 minute episodes with 3-5 episodes per series. Being the first in Hollywood to reward artists in real-time, royalties are automatically paid based on how often episodes are viewed. Put simply, artists can make more on Ficto compared to any other platform currently on the market.
Filmzie, a streaming platform that encourages P2P sharing and independent filmmakers, offers a similar payment model as Fiction Riot. Compared to Fiction Riot, Filmzie includes a social aspect with features like reviews, ratings and comments as well as human-based curations from the Filmzie team. Scheduled to be launched in the first quarter of 2019, Filmzie plans to gradually establish itself as a one-stop shop for the independent film community.
The key to DCore is allowing for real-time, frictionless micropayments through the ledger to content creators without limits and restrictions. The current industry standards are incredibly disadvantageous to new or independent content makers. Usually, an upfront fee for the distribution rights of their content is agreed upon with the studios and/or platforms. If the content is highly successful, the majority of the rewards go straight to the pockets of the studios and other middlemen. Without proper bargaining power, this puts the content creators at a significant disadvantage.
An example list of content distribution leveraging DCore’s desktop application.
The major advantages of building a content platform such as Ficto or Filmzie on DCore’s blockchain is based on its fundamental characteristic: traceability, availability and direct accessibility. As explained earlier, content rights are extremely expensive if you’re not a key figure within the industry. Distribution rights are predominantly controlled by studios. This means that when someone makes a movie in America, they will have a hard time licensing and distributing content in East Asia due to country-specific regulations. With the addition of blockchain, this process becomes borderless, as anyone from anywhere can have access to any piece of content. DCore’s unique functionality also lets the content creator control pricing and set up revenue sharing mechanisms, as well. This accessibility is what makes the blockchain so powerful. With the ledger, it is now possible to trace the consumer of each content accurately, ensuring that the transaction happens directly between the content producer and the consumer.
By securing each transaction with cryptography and clear rules of payment on an immutable ledger, payments can happen almost instantaneously. The current model of payment terms is also unfair to the producer, who has to front initial production costs, and, on average, waits 30-60 days for payouts. With the power of blockchain, they would get paid almost as soon as their content is consumed.
This is just the beginning of DCore’s venture into the media and content distribution industries. While film and video content dominate most of the media industry, other forms of content hold vast amounts of opportunity. Anything from music to books to scholarly articles can be disrupted using a similar model powered by blockchain.
In fact, if you have an idea for one of these industries, or are working on projects as innovative as Ficto and Filmzie, please feel free to reach out to us on how to integrate DCore to build your decentralized application! Stay up-to-date with the latest news about DECENT, follow us on social media and join our live discussion in our Telegram channel.