Kim Dotcom became famous after creating the Megaupload platform, one of the largest file sharing platforms in the world. He was the king of this industry until 2012, when the deal was closed following an investigation by the FBI.
Kim was accused of complicity in violating copyrights for music, movies and many other creations. Pirated accusations were due to the fact that it provided its own servers for users. Subsequently, the creator of Megaupload was also charged with money laundering, which means the risk of long-term imprisonment.
The FBI has collaborated with New Zealand's local authorities to arrest him and make searches. Since then, the case has gone through several instances because Americans have demanded extradition to the US.
The case has now reached the New Zealand Supreme Court, where Kim Dotcom has requested the cancellation of the extradition request.
DotCom and crypto
After closing Megaupload, Kim Dotcom came back to public attention when he turned into a crypto supporter. In July of 2017, he announced his intention to launch K.IM, a proprietary token-based system. The new crypto-based system would allow direct rewarding of content creators.
To achieve monetization of digital content, the project platform converts content into encrypted data. For users to access content, the data will need to be decrypted and they will pay for it.
The project whitepaper also shows K.im payment engine, which manages payments and authorizes debugging the file. This system eliminates interception by intermediaries, which is currently a barrier to adequate remuneration for content creators.
Unfortunately, automated methods of copyright recognition are still embryonic in the crypto industry. Kim Dotcom's project has not yet been put into practice.
MegaUpload creator
has been kept in public attention with explosive statements about crypto. In August 2018, he claimed that the US dollar would collapse because of US economic policies. Kim Dotcom argues that the population should move towards Bitcoin because it has more chances of survival.
His observation of the American economy is not exaggerated. It is estimated that the US budget deficit will increase by $ 1000 billion in 2019. The US external debt exceeds gross domestic product by 100% and the US economy does not perform well.