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May 13, 2018, 01:06:09 PM |
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The accelerating growth of crypto space has been nothing short of extra-ordinary. However, its attractiveness as an investment option far outweighed its actual use cases.
Adoption of this technology by existing players with large user bases would give it the kind of legitimacy that would help further drive its mass adoption. And the actual use cases would also start to proliferate.
After Huawei decided last week to pre-install bitcoin wallet in all its future manufactured phones, now CastBox has decided to bring its existing user base of over 15 million users to the crypto world through its new product - ContentBox. What CastBox, one of the largest spoken audio platforms in the world, has done can become a trendsetter for the rest of players with millions of userbase as well.
Here, actual use case already existed which was responsible for growing the user base to million of users for CastBox. What cryptocurrencies will do is provide superior incentive structure for the participants to create an efficient network market as compared to what exists at present. In the case of ContentBox, CastBox team is aiming to create a global content payment infrastructure run on the basis of tokenomics and blockchain technology.
The presale of ContentBox token (BOX) is currently going on and will end on May 15, 2018. The price is 19,200 BOX/ETH and the total allocation is 15 million BOX. The token is being offered on EPIC.
Why such a unified global decentralized payout system supported by a shared pool of content creators and users is bound to work is because it facilitates disintermediation. Right now, platform owner (publisher) extracts most of the value created by the content ecosystem and this platform owner is nothing but a middlemen connecting content creators and content consumers/users. If replaced by an in-house token which are distributed among the content creators and content consumers (e.g. in the form of rebate for providing their attention) on the basis of meritocracy without needing a controlling platform entity. Blockchain technology enables the right incentive structure at the protocol level and thus ensures meritocracy-based immutable rules.
ContentBox is going to have the following three major components:
i) BOX Payout - This overcomes the limitation of current smart contract platforms and enables fast multiparty contingent payments on a global scale. The payments can automatically be triggered when something of value happens in the ContentBox ecosystem, i.e., when any content is consumed by a user. So, even 'Play' and 'Pause' clicks can drive transactions in the underlying BOX token automatically without needing to spend an extra redundant time to make the payment first before content consumption. This is also going to ensure efficiency as the payment will be very efficiency linked to the actual content consumption.
Also, to ensure privacy of user history, it wouldn't be relying on public blockchains of current smart contract platforms.
ii) BOX Passport - ContentBox will itself be a blockchain-based infrastructure for the decentralized digital content industry. This will be based on a blockchain-based identity and attribution service owned by the users/content creators themselves and working across multiple applications. And content creators will be able to smoothly receive payouts on multiple applications using ContentBox.
iii) BOX Unpack - This solution will let content streaming platforms to integrate easily with ContentBox. BOX Unpack also comes with proprietary Deep Search Technology and Natural Language Processing which will be completely sponsored by ContentBox, making its value proposition further strong for existing content streaming platforms to consider join ContentBox.
Although highly ambitious in nature, ContentBox gets a major share of its credibility from its founding team which has successfully build a great product previously in the form of CastBox. Additionally, the team has previously worked with top companies including Google, Facebook, Xiaomi and Kaitong Finance.
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