Welcome back, guys, to The Cryptographer’s Steemit. We’re about to decipher another brand new blockchain project.
In Brief (the section for those too lazy, or busy, to read on)
Spuul (the company behind the Spokkz project) is a Video on Demand platform where users can watch and download videos, mainly operating in Asia but with a truly global reach. With a growing community of already 4 million subscribers, Spuul has decided to expand its horizons further by utilising cutting-edge technologies to enable new possibilities for both the Spuul platform but also for the media industry in general.
The vision is to create a community-powered decentralised streaming ecosystem built on top of blockchain technology. This is a huge vision for Spuul and for the streaming space, with a promise to challenge existing centralised models of operation. This is where Spokkz comes into play; Spokkz is the decentralised platform developed by Spuul that will allow for a range of new community-focused features and possibilities. For example, users of the platform will have the opportunity to fund video projects like movies, series and other media productions using the platform’s ERC20 token SPOKKZ.
What are the specific problems Spokkz are looking to tackle?
Before Spokkz was established, the entertainment industry has always had a particular way of operating which really isn’t beneficial to actors in the ecosystem apart from those centralised platforms themselves, often to the detriment of the other parties- namely, the platform users and the content producers who power the platform.
For example, video content creators routinely put both their projects and finances at risk by selling the media either in pre-sale or post-production. This causes constant uncertainty for content creators regarding budget and not knowing how and when their production costs will be recouped, potentially resulting in half-baked production as available funds at that time may not be sufficient to properly complete the project.
Third-party video streaming is also making it difficult for content creators to make enough money from their productions for making their operations sustainable, as these centralised platforms are left making a considerable sum of money in fees etc. which should (at least partly) be shared with producers.
In terms of community and user engagement, when using current streaming solutions users are not involved in a rewarding way. Viewers subscribe and stream lots of videos; they also comment and rate those videos without getting anything in return. Such user-generated content and input is an integral part of any platform or ecosystem- so why shouldn’t users be rewarded for their insight and time? It only seems fair to me, and is something which I personally have wanted to see change for some time.
How does Spokkz intend to use blockchain to solve these issues?
Now, with the creation of SPOKKZ, users become an integral and important part of the ecosystem. Users will have the ability to fund projects within the platform, deciding from the very funding stage what it is they want to see; these users then get to watch the content with a discount when it is released. Not only that, users will be compensated for their input if the content they fund reaches a certain success level.
Tokens are also used to reward users for their personal input and content- users that add to the ecosystem by finding the time to comment, rate or criticize content will be compensated with SPOKKZ tokens. Spokkz even rewards users, and non-users, for simply sharing and watching content.
The SPOKKZ token allocation can be seen below.
(From the Spokkz white paper: https://spokkz.com/static/documents/whitepaper.pdf)
One notable feature is the P2P sharing solution which allows Spokkz users to easily share content amongst themselves. This increases the rate at which content is distributed, and acts as a beneficial promotion mechanism between friends and community members, potentially eliminating the need for the hassles involved in content advertising. Integrated wallets will be used in keeping users' funds safe, secure and easily accessible; the wallet owners can buy and sell tokens to be used within the platform with ease.
Meet the Team
The brains behind the project are also those behind the parent platform, Spuul. Through Spuul the team have shown impressive success since its inception in 2010; the capable team is headed by the CEO and co-founder Subain Subaiah, S. Mohan is another co-founder and the COO. D. Girish is acting as the head of content while Jumbo Cortes handles the project’s blockchain architecture and development. These are the capable brains behind the revolutionary vision to decentralise the entertainment industry, beginning with their ground-breaking platform.
(From the Spokkz website: https://spokkz.com)
The Cryptographer's verdict
The vision of Spokkz certainly promises a whole new community-powered and community-centred approach; the ecosystem is not only notably beneficial for content creators, but also to the entire community involved in the production, distribution, viewing, and streaming of the platform’s content. Critics can also benefit when they review or rate content on the platform- truly everybody can benefit from the content and value they bring to the ecosystem, making Spokkz an excellent example of how a decentralised approach can bring about community benefits not available with centrally-controlled solution.
Read more about the Spokkz project at their website: https://spokkz.com
and if you have any questions the best place to ask is their Telegram group: https://t.me/SpokkzOfficial
My Bitcointalk.org Profile (H4hire): https://bitcointalk.org/index.php?action=profile;u=2258977
Happy hunting!
PLEASE NOTE THIS IS NOT FINANCIAL ADVICE. YOU MUST ALWAYS DO YOUR OWN RESEARCH AS WELL AS READING OTHERS’ OPINIONS, ESPECIALLY IN THIS SPACE.