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Flixxo Adopt the Blockchain Technology to Create a Decentralized YouTube

The world has been monopolized by first movers in the social media world since the evolution of Facebook and YouTube. The market shift towards online media has been important to the growth of news through social media platforms.

Media centers and bloggers have realized that, with the mass daily dump of written news and blogs, a change was needed. As news outlets and the social media world got smarter, the tech world has looked at how to take advantage of the shift in media and communication landscape. Readers have little time to trawl through lengthy articles and blogs and are far more interested to see live or recorded footage that is more effortless to absorb.

While Facebook has always provided a video option for the social media world, YouTube has been the market leader in video platform. Not only can you catch up with a relative’s special occasion, but also keep up to date with news and even watch your favorite movies, news outlets, and bloggers in action.

As always, progression is a positive and ultimately leads to competition. Interestingly the monopoly that YouTube has enjoyed has been a lengthy and fruitful one. The time has now come for the tech world to explore new avenues and attempt to eat into a monopoly that started back in February 2005, funded by $11.5m of venture capital money. The first YouTube video, San Diego Zoo, was uploaded on 23 April 2005. Following Beta testing, the site officially launched in December 2005 and by then there were already 8 million views per day. Today YouTube has a whopping 3.25 billion video hours watched each day, with 1.3bn viewers at a rate of 30 million visitors per day. Perhaps the key statistic for the sector is that by 2025, half of the viewers under the age of 32 will stop subscribing to pay-TV services in favor of online services.

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The tides are changing and thanks to a material shift in fundraising platforms and the development and increased attention paid towards initial coin offerings (“ICOs”), the competition is on the rise.

So, is there a new innovative alternative way to the social media video platform as it has been evolved? Absolutely, and Flixxo is looking to take the battle to YouTube.

Monopolies tend to bypass technological advancements and the decision to ignore the benefits of blockchain technology may well lead to YouTube’s demise.

Competitors have started to appear in the online video industry in an attempt to take a piece of that lucrative pie. While YouTube continues to store all of its data on its own servers, the new world has an alternative solution and yes, it’s blockchain. Moving from a centralized platform with significant costs and an inability to make efficiency gains to a decentralized one, embracing blockchain tech is the fundamental issue.

While recognizing that there are a number of companies looking to enter the fray, our focus is on Flixxo.

Flixxo has taken the advantage of blockchain. That includes smart contracts and the peer-to-peer (“P2P”) file-sharing technology that is central to blockchain technology.

For those who have missed the new wave of social media video sites, Flixxo’s advancement has been rapid.

Flixxo has reached its soft cup, with its initial coin offering already passing $3 million. That’s a promising start, and who is behind the scene?

Key members of the team include Adrian Garelik (creator of RSK Labs) and Federico Abad (PopCorn Time) and that’s before considering partnerships with AdEx, Wings, Boncor, Stremio, FAV! Media, CoinFabrik also key to Flixxo’s future.

It’s all blockchain tech and the Flixxo team are taking full advantage of the blockchain tech on offer, decentralizing and benefitting from the P2P offering that blockchain tech offers. Unlike YouTube’s earnings structure, not to mention cost inefficient platform, Flixxo will be making full use of smart contact tech to determine how much views will be charged to access videos. Flixxo will also use smart contracts to determine the percentage of revenue will be set aside for viewers who become part of the BitTorrent network by seeding the video content.

As for the advertisers that have become key to the success of YouTube and its users, while at Flixxo, the advertisers will purchase tokens from the creators and then create smart contracts, where they can pay tokens to the users who watch their ads.

If there is any question over the viability of Flixxo, the Flixxo Telegram community has surpassed 2,750 members. To put into perspective, Facebook’s Telegram community stands in excess of 9,800 members. That’s quite a number considering the fact that Flixxo is in ICO stage. It’s only a matter of time before Flixxo is hot on the heels of Facebook.

For more token sale information, click here.

#flixxt token is integrated into MyEtherWallet and #flixx is supported by default and balances will be automatically updated.

Additionally, Coinomi wallet supports Flixx tokens in their popular android wallet and also allows one-click contribution directly from the wallet into Flixxo’s ongoing token sale.

There’s an undeniable need for an alternative and for founding investors there is certainly an incentive. Investors can earn a 15% bonus on tokens earned with each purchase, with the discount falling to 10% during the last nine days of token sales, the sale of which is scheduled to end on 23rd November.

There will be 900,000,000 Flixx tokens issued overall. The breakdown of Flixx tokens is:

  • 200,000,000 for the token sale

  • 100,000,000 for partnerships

  • 100,000,000 for the team

  • 500,000,000 for an incentive program over a 10 year period

Time is running out and Flixxo may well become the market leader. After all, financial dynamics are key to investors. With 900 million tokens issued, 200 million of which have been made available to the public (100 million to partnerships), it’s not going to be long before want to be investors will weep over yet another missed opportunity.

This article was originally posted on FX Empire

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