TV networks don’t really earn a lot of cash from streaming TV shows and sports games straight on your laptops. All this might change with VideoCoin, a new and decentralized project which targets the price that major broadcasters and media companies are paying in order to stream content.
When a broadcaster sends out a broadcast via the airwaves, one signal will be able to reach more devices, but when the broadcast is sent via the Internet, one single can only reach a single device.
CNET founder builds next-gen infrastructure
“What we’re building is the next-generation infrastructure for how you do video processing and distributed services,” Halsey Minor, CEO of Live Planet, an immersive video startup told CoinDesk.
Minor is best known as the founder of the tech media website CNET.
The plan involves creating a platform that allows broadcasters to send their video streams to unused computer infrastructure. A viable example is the one of server farms which have loads of processing capacity.
“I believe the blockchain could unleash a highly competitive market on computing in the same way I believed Salesforce could change enterprise software,” Minor explained.
“You don’t need specialized hardware to do video mining,” he stated.
Computers and cell phones come with built-in video encoders. On the other hand, Minor doesn’t see as much opportunity in personal devices as he does in data centers.
“For the video part, we’re in excellent stead,” he said and continued explaining that “the hard part is building a very performant blockchain.”
With the completion of the token sale, the company also revealed that it would update the product roadmap and new partnerships are on the way to support adoption of the open-source VideoCoin platform.
“The one use case the blockchain that’s going to work first is the commodification of hardware. It’s perfect for it,” Minor said.