The creator of Popcorn Time, Federico Abad, is part of a new team launching a video platform built on BitTorrent and blockchain technology.
The Flixxo system will give users digital tokens called Flixx, which can be used to access content.
Participants will earn Flixx as a reward for their contributions – with users rewarded for creating, watching, or seeding videos over BitTorrent.
Flixx is an ERC20 token based on the Ethereum blockchain, and the team plans to launch a marketplace and decentralised Flixx exchange in 2018.
An initial coin offering for Flixx will be launched in the coming weeks, with 1 billion tokens to be issued, and a maximum of 300 million tokens to be sold.
Flixxo added that there are built-in mechanisms to limit copyrighted content or spam being uploaded to the platform.
“Authors have to time-block tokens in a smart contract – set as a warranty – in order to upload content. This contract will also handle and block their earnings for a certain period of time, so that in the case of a dispute, the unfair-uploader may lose those tokens,” said Flixxo.
