Disrupting Content Platforms: Blockchain Use Case for Original Content

With content management systems (CMS) and content based platforms, the demand for content to be hosted online is skyrocketing. An entire industry for online writers, YouTubers and video production has surfaced, and so too has the business of matching content developers to startups with a need to hire writers and content developers.

For those looking to express themselves online by writing, creating videos, writing reviews, becoming a social media content specialist—or for those who simply what to share what they know—up-and-coming content sites such as ClearVoice or UpWork may be the place to pursue their content development career.

However—one quickly discovers there are fees and processes that cost the content creator, and makes their ability to create an income more challenging.

Blockchain Use Content for Content Developers

Now blockchain may become a friend of content creators looking to regain control of working directly with clients and eliminating third party platforms that can charge up to 20% in fees for matching a writer to a client.

Dave Gutteridge, writing for Invest In Blockchain, identified blockchain use cases for writers. “Content creators have been looking for a viable system to allow micropayment for quite some time,” he writes. With current platforms, the systems involve middlemen who handle payments that involve collecting payment information, taking a cut in the creators’ earnings, and can include restrictions such as holding payment until monies can be cleared through escrow accounts and wire transfers. This often takes days for the creator to see a payment.

With blockchain, these inconveniences can be eliminated, “giving content creators the opportunity to develop relationships directly with their consumers,” according to Gutteridge. The result is that content creators will have the opportunity to cultivate their own client relationships.

Steemit.  Steemit is “the brain-child of Daniel Larimer, founder of BitShares, and Ned Scott, a former financial analyst,” says Colin Adams about Steemit. It is a blockchain-based social media and blogging website. Content creators post articles, art, or videos to the Steemit site. From there they get paid by Steemit members.

With services like Medium, consumers pay into an account, typically with a monthly membership fee. With the money they have pooled, “Medium consumers have the option to reward the content they like—from consumer to creator.” With Steemit, the consumer buys STEEM tokens and pays the creators. STEEM tokens are added daily. The tokens are then distributed to the creators based on tallied votes.

Steemit’s blockchain technology creates alternatives to grow the economy: everyone who is participating can see a return. The user is rewarded with cryptocurrency for publishing and curating content. Steemit is a privately held company in New York, with headquarters in Virginia.

Narrative. Diana Ngo, Coin Journal, describes Narrative as a platform that “is using cryptocurrency and blockchain technology to build a social media platform that rewards creators, moderators and influencers who contribute to the platform, “putting revenue in users’ pocket, not Mark Zuckerberg’s.”

Image Source: neonewstoday.com

Contributors, referred to as Narrators, maintain journals and tell personal stories and share personal thoughts. Along with other blockchain solutions, Narrative is working to create a system to pay content creators differently. Narrative created NRVE, a token used to stimulate the ecosystem and compensate creator and curator.

Narrative has categories, called Niches, of content used to help customers find relevant topics to meet their needs. Those curating the Niches get token rewards for successfully keeping their Niche relevant and interesting.

D.Tube. D.Tube, is a blockchain-based alternative to YouTube, Google’s dominant video platform. D.Tube’s top page interface is almost an exact copy, indicating they are looking to replace the YouTube name entirely.

D.Tube uses STEEM tokens for their token economy, and IPFS for storing video files. The combination provides the best of a “fluid economy and reliable decentralized data storage”. From a content creator’s view, the significant difference between D.Tube and YouTube is compensation. With tokens at its disposal, D.Tube videos have no need for advertising. Clearly, this is an advantage for content creators—who currently pay 45% of earnings to Google in advertising revenue.

In MakeUseOf, Ian Buckley assessed D.Tube. A key advantage of D.Tube over YouTube is its decentralization, and immutable blockchain features—nearly guaranteeing first amendment rights of free speech.

According to Buckley, because D.Tube is a decentralized platform with no central servers, all of the content is stored on a blockchain. And, there’s no simple way of removing content from the site. The fact that the content is not in the hands of a large organization is a big draw, and a reason to switch to D.Tube. It is a secure service—there is no single place of storing all of the user’s data, ready to be hacked.

D.Tube has one significant advantage over YouTube—no advertising. Because D.Tube uses STEEM dollars as its currency, there is no need to advertise on D.Tube. Instead, users upvote videos to give them worth. That means popular videos will receive STEEM Dollars.

Conclusion

Blockchain for content creators is clearly emerging as an equalizer. For the thousands of freelance content creators, blockchain content platforms may prove to be the go to place to market and host content. It clearly has the best system to democratize content marketing and distribution, returning the power of creation and sales back to the content developer.

Samuel H. is an author, writer and speaker with over twenty years in the educational technology sector.

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