Blockchain to Facilitate Direct Monetisation by Content Creators, says Kim Dotcom
If you are a content creator, or know someone who is, you must be familiar with monetary problems that content creators face. Often payments are meagre and late, or they involve an intermediary who could be a fraud. Due to the centralization and hierarchy that exists in the digital publishing industry, it often becomes difficult for content creators to get their payments out on time.
Kim Dotcom has undertaken the responsibility to make this process simpler and more efficient for content creators. The Internet Entrepreneur Kim Dotcom, who runs a website by the same name and is infamous for the multiple charges of hacking that have been levied against him, plans to develop their own cryptocurrency that can make direct monetisation a reality, for content creators. Although ambitious, this plan could be just the thing content creators need. It will greatly reduce the chance of fraud, identity theft and involvement of any third party in the process.
The Kim Dotcom website will aid content creators to transform their products into encrypted data which would need to be decrypted by the consumer in order to be read. Content like blog posts, news articles, YouTube videos, scientific articles, github repositories, Facebook posts, etc. can be monetised through this platform. Kim has released a white paper detailing how this entire platform could benefit content creators and how exactly this process would work. Consumers who want to read the encrypted work will need to use the Ki.m Payment Engine which will demand cryptocurrencies in exchange for access to content. The moment the transaction is made, the file will be decrypted automatically
Why Digital Content Is the Real Deal?
In today’s digital age, digital content creation is a very important task that many undertake as a profession. According to the current trend of the market, the stats show that there is an increasing demand for digital content.Havas Group’s 2017 Meaningful Brands study, 84 percent of people expect brands to create content. This has resulted in a huge pool of talented content creators who
The revenue that the digital publishing industry generates is massive. This money is controlled by a group of people at the top who also double as gatekeepers. For freelancers, it gets increasingly difficult to monetise their work, especially if there are middlemen present to exploit their position.
This cryptocurrency ecosystem that Kim Dotcom wishes to establish, will ensure a decentralised and fair system for content creators to directly monetize on the content that they create.