VERASITY: BUILDING A BETTER AND STRONGER ONLINE VIDEO SHARING ECOSY...

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Online video is one of the fastest growing online media platforms as it accounts for 73% of all consumer internet traffic. The online platform has made video creation, sharing and consumption more accessible than ever before. This trend has led to an increase in the size of the market of online videos as more consumers shift online for digital videos. But yet, there are still underlying issues which tend to limit the true effectiveness of this industry, thus the need for an urgent solution.
In order to solve these issues led a team of professionals into creating a project unique in all ramifications with the purpose of building a better and more beautiful online video sharing industry. This is no other project than VERASITY.
Verasity is bringing blockchain technology into the online video creation and consumption platform so as to develop, enhance and promote the platform into a next-generation platform that will usher in better user experience and satisfaction for consumers. Verasity will in the due process remove intermediaries and bring the creators and consumers into direct contact with each other.

THE PROBLEMS

The existing video platforms failed to effectively balance the conflicting interest of the users including video creators, viewers, advertisers as well as the platforms' shareholders as this creates a rift in the kind of experience offered by these platforms to their users.
The platforms impose ads on the viewers in order to generate revenue so as to sustain infrastructure and also pay creators. The sharing of this revenue is reported to be unfair to the content creators getting a very small share of the revenue generated. This problem makes creators upload overwhelming amount of videos leading to content shock.
The videos are centrally stored leading to the creators not having claim over what and what they created. Creators also have to wait for about 60 days to get paid for the contents they created. Advertisers only care about advertising against brand contents and may also effect policies that will affect creators adversely as they generate much of the revenue.

SOLUTION OFFERED BY VERASITY

Verasity is structured in a way as to enable a new and enhanced relationship among the stakeholders of online video platform, from the viewers and creators to advertisers and other shareholders. Verasity will utilize the properties of the decentralized blockchain technology to proffer a transparent, accountable and effective solution to the problems mitigating against the online video platform.
Smart contracts will be used on Verasity platform to alleviate all transaction problems including the delay of payment as well as a detailed and balanced sharing of the revenue generated.
Verasity will use 4 key elements to revolutionalize the industry. They are;
a. Verasity High-Performance Blockchain,
b. VERA Transactions,
c. Proof of View,
d. DPoS (Delegated Proof-of-Stake).
These tools will ensure a platform that upholds transparency, legality and security of all the data and transactions on the platform.

VERASITY ECOSYSTEM

Verasity ecosystem is made of;
a. Video content creators,
b. Viewers,
c. Advertisers,
d. Brands.
All these participants or players interact with each other so as to promote the ecosystem. All transactions effected on the ecosystem is powered by VERA, thus leading to a fast, secure and transparent transaction, this, in the long run, will bring trust to the ecosystem while reliability is achieved.
Furthermore, there is no need for middlemen as can be seen in traditional media ecosystems as Verasity ensures all value generated remains within the ecosystem.

TOKEN INFORMATION

Verasity platform operates with VERA token which is a utility token in which all transactions will be effected. There will be a total supply of 12,491,500,000 ERC20 VERA tokens to kick off the platform. Once the platform is live the tokens will be converted to VERA tokens at a ratio of 1:1.

INFORMATION ON TOKEN SALE

CONCLUSION

Verasity is a platform based on the decentralized property of blockchain technology and smart contracts designed to redefined and enhance the relationship as well as user experience among users. Verasity will, in the long run, provide trust, transparency and integrity to the video sharing community.

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