INTRODUCTION
Current’swhitepaper is 49 pages long and full of math formulas and algorithms. Luckily for you, I read it and I’ll attempt to describe the project and outline their value propositions in less than 49 pages 😊.
Current’s big tagline is get paid for consuming content. While consumers will make up a large majority of Current’s ecosystem, they are not the only participant (Current calls them “stakeholders”) winners. Their overall objectives go deeper than creating a platform where consumers get paid.
Available on iOS, Current’s exists as a conglomerate of online media networks where users can access content within a universal media platform. Current sourced content from third-party networks such as YouTube, Spotify, SoundCloud, Internet Radio, etc.
In Current’s future state, the platform will integrate a blockchain protocol to support participant transactions. As such, the Current protocol and token will introduce new revenue streams and incentive mechanisms that will initially be launched within the Current platform and later be made available for developers to leverage in their applications.
In sum, Current provides a convenient search and discovery experience that uses behavioral data points to serve up better recommendations than any single network could alone. The integration of blockchain capability will allow for instant valuation of time, data and attention that will align the interests of all participants in the media consumption cycle.
ECOSYSTEM PARTICIPANTS
Current will succeed or fail on if they will be able to align all participant interests for rewarding tokens for specific platform actions/behavior. As I said above, all types of ecosystem participants will be able to get rewarded for the type of role they play on the system (to read how Current will do that feel free to read their 49 page whitepaper.
Here are the list of participants and the descriptions of their roles:
Consumer – The person playing the media and paying for subscriptions.
Curator – The person organizing the playlist or bringing the content into the network from an external source.
Creator – The person or group responsible for the content being played
Referrer – The person responsible for bringing the consumer onto the platform.
Growth Pool – The pool of tokens that ensures liquidity and proper supply in the total token supply pool.
The diagram below illustrates how participants are expected to transact CRNC tokens on the platform.
ICO DETAILS
Current reached their hardcap before this post was able to publish.
ICO sale has concluded.
ROADMAP
FINAL THOUGHTS
Consumers will be make up the majority of the ecosystem population. They would do what they would do everyday anyway which is consume the content they want. Heck, why not get paid at the same time? Advertisers get more transparent accounting and audience information and Creators and Curators will get compensated for their transactions. As Current scales, they will get to boast that their platform is the perfect ecosystem where all participant interests align. To do that they will collect as much participant information as they can. Data is the new gold, you know. I’m sure they will leverage the data to achieve participant ecosystem balance, but I’m also sure they will amass data for other uses to grow the business as well. That’s not necessarily a bad thing. Current needs to be a winning participant as well. This is a good time to mention that Current dedicated a section in their white paper that describes their Privacy and Security policy. Users will be able to adjust their privacy settings accordingly, with most personally identifiable pieces of information decoupled from the preference data.
I like that current has a great list of advisors. Mark Cuban definitely the most recognizable name, however the remaining individuals are not small potatoes in their respective fields. The all-star list is a big selling point and are listed before the core team members. Click this link to go to the list.
With such an all-star backing, and a great idea to adopt blockchain for peer-to-peer transactions for media life-cycle participants, Current has a great chance of long-term success. Most platforms new blockchain platforms will struggle to market their platform, but given that everyone consumes vast amounts of media these days, Current will have no problem attracting consumers looking to cash in on their daily habits. I plan to use their product and I hope the I can be a part of their future success.
If my post sparked an interest in knowing more about the project, I encourage readers to read Current’s plan in more detail by reading their whitepaper.
Hopefully I’ll see you on the platform in the future.
REFERENCE LINKS
Website
Whitepaper
FAQ
ANN
Telegram
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Traversing the Cryptosphere,
Kryptonaut (GeneralCryptoZod on Telegram)
Bitcointalk profile: johnnyjj
