Castbox, an award-winning global podcast platform founded by former Google employee Renee Wang recently launched ContentBox — a blockchain-based platform designed for the decentralized digital content industry. The platform is further supported by Bo Shen, the renowned blockchain investor, founder of Fenbushi Capital and an early adopter of Ethereum. Shen plays the role of a strategic advisor and a cornerstone investor in the project.
Developed specifically for the digital content industry, the platform intends to disrupt the sector by introducing innovative features like shared content pool, shared user pool and a universal payment system. Furthermore, the ContentBox platform will be independent and decentralized, unlike other conventional digital platforms. The platform assists web and mobile apps to distribute content effectively, affordably and transparently.
Since last decade, the digital content industry has been exhibiting an upwards trend. Platforms such as YouTube and Spotify have gained popularity among internet users, to an extent that they have become an indispensable part of the contemporary daily lives. Currently, audio and video streaming make up for a whopping 70% of internet data traffic. Nonetheless, the success of this industry is still inhibited by some issues, such as difficulty in monetization, non-compensation for content consumers and aggressive competition in the market.
How ContentBox Address These Challenges?
ContentBox blockchain-based platform provides a solution for the aforementioned issues. Due to its immutability, blockchain technology will ensure transparency between all players in the digital content industry. The establishment of peer-to-peer connections will reduce the costs of transaction by eliminating intermediaries. Moreover, distributed ledger technology enhances the safety of transactions involving money and all deals will be governed by self-executing smart contracts. This will ensure that no disputes arise during the sale and distribution of digital content.
Blockchain investor Bo Shen stated,
“The nature of blockchain technology is to take a slice of the pie from vested interest groups, where you are bound to encounter resistance. To get your project off the ground, you must have vast industry and product resources. I invested in ContentBox because it has a strong technical team and a wealth of industry experience, and I believe that it will become the first killer app for the digital content industry.”
With ContentBox, advertisers can tap into a shared advertisement statistics ledger and pay by actual advertisement viewership automated by smart contracts, instead of relying on opaque statistics reported by distributors. Since the ledger is open, they can audit and verify it and have peace of mind. This can help them to build a unified and coherent marketing strategy, instead of running parallel ad campaigns on different platforms. Furthermore, they can lower spending by leveraging a token-based bounty program.
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