Cryptube to Enable Digital Asset Sharing Economy on the Blockchain
Cryptube promises to enable anyone to share digital assets and get rewarded by their consumption by other users with its upcoming blockchain powered platform.
Cryptube’s technology secures ownership of the digital asset and its peer-to-peer sharing with a proprietary algorithm which can detect slight variations in the digital signature of the content, such as difference in colors between an original and a copy.
The platform is now in its final development stage and gearing up for an ICO before its launch. The Cryptube Foundation, which will issue the CTUBE token to fund further development of the platform and marketing efforts, is registered in Singapore.
“Plagiarism and piracy allowed by platforms such as The Pirate Bay cost content creators billions of US Dollars in royalties, effectively stealing potential revenue from them, while at the same time degrading the quality and trustworthiness of the content.” said Joseph Hung, CEO of Cryptube. “Even major reputable content sharing platforms including Youtube are struggling to guaranty adequate remuneration to creators and protect the owners’ copyright.”
Mr. Hung also sees problems with for the consumer of content on these platforms, as they don’t really know if the digital assets they consume comes from an original source in its unedited form, and they want to know that the fee they pay goes to the creator of the content.
To solve the issue, Cryptube developed an algorithm which guarantees the creators’ right be setting hash parameters, time nodes and authors signatures, allowing for tractability of the digital asset through smart contracts. Furthermore, Cryptube’s platform can analyze video frame information through its client and conduct a hash code of the color difference in parts of a video, assigning a unique hexadecimal code to each video stream.
“Cryptube really brings a lot of long term value for the content creators,” said Mr. Hung, as the platform encourages the sharing of their digital asset with the promise that, with the help of blockchain technology, their content is protected against steeling. Equally importantly, Cryptube generates revenue automatically for creators as they are paid to share their content by the platform, and each time the content is consumed by other users. Smart contracts will unlock CTUBE payments when a content is successfully approved and listed on the Cryptube content list.
On the side of the content consumers on Cryptube, the user has the guaranty that the content was indeed created by the creator and is not an illegal copy, and know that the creator received a remuneration for sharing their work on the platform. Each user can utilize the client-side Point-to-Point (P2P) transmission technology to participate in the creation of digital asset storage nodes and contribute to the development of the Cryptube ecosystem.
“We really believe that Cryptube will change the game when it comes to fighting piracy of digital content. A platform as secure, trusted, and fair as the one we are building with our proprietary blockchain technology and algorithms will help build a much more healthy relationship between digital content creators and consumers.” finished the CEO, adding that the team is committed to reaching this goal.
Cryptube is led and developed by an all-star team of internet and content sharing experts including Joseph Hung, Chairman/CEO of GameStorm Co., Ltd., Spencer Hsieh, Deputy General Manager of GameStorm Co., Ltd., and Giles Lin, General Manager of All Ways International Co., Ltd. and is backed by a long list of esteemed advisors including Yu Hong, founder and CEO of SEEU and QYGame. Visit Cryptube’s website for a full list.