The internet information ecosystem is powered by three key concepts; content, information, and economy. The challenge today in the digital world is the disconnect between the content creator, information disseminators (or content publishers and platforms) and information users. This disconnect is the apparent lack of a fair and equitable economy. The reward structure as it were today is such that it mostly rewards the information disseminators and largely neglects the other two parties.
The current state of things has made the recent advent of decentralisation brought about by increased adoption of Blockchain technologies quite exciting to several stakeholders. This is because the decentralisation paradigm has allowed for ecosystems and by extension digital economies achieve better and more equitable resource allocation in terms of both what goes into powering the system and what the stakeholders get a reward in return for their respective input.
Introducing Media Protocol
A new startup project, the Media Protocol has leveraged on the idea of Blockchain tech and decentralisation to develop a service that is dedicated to creating an Audience Economy which rewards all participants who contribute to the life cycle of contents on the internet. The idea is to create a content network where the high-quality content of constant relevance and targeted delivery is always available to the teeming masses of content consumers.
Using Smart Contract technology, the project intends to create a protocol where content is more easily shared, and the audience is more easily reached and better satisfied.
How it Works
The Media Protocol uses smart contract technology to create Blockchain based wallets which would be derived from and attached to any URL that links to the location of a content published online. This generated wallet will contain tokens for rewarding participants who have contributed in one form or the other in the content’s lifecycle.
The Benefits of the Media Protocol
- The project intends to leverage on decentralised and shared ledger technologies to create a trustless ecosystem that is transparent and free of risk for users in their interaction with various forms of content
- Media protocol also introduces a way to incentivise content creators attractively so as to ensure that the quality of the content they produce and submit for publishing is always high
- The project also works to improve the area of content distribution across the media protocol ecosystem. The idea is to make the content of high quality and relevance more available and better accessible by content consumers within the ecosystem.
- The media protocol has also mapped out a strategy to create collaborative frameworks of content ‘families’ and ‘partners’ where parties in the same content space work together to serve better content overalls.
Since the explosive adoption of Blockchain technology for conducting conventional businesses in a better way, a great many content-based startups have sprung up over the place. Many of these ideas and startups have really come to solve real-world problems as it relates to using the internet. Media protocol is a leader in this field and is definitely a project that could very well serve to make our internet a better one for content and information use and sharing. Go to http://mediaprotocol.org to get more info about this project.