BUZZSHOW - Decentralized Platform For Future Video Online Sites

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Preliminary

Video has become the mainstay of entertainment. The rise of video platforms such as YouTube and Vimeo has increased the demand for video exponentially in the developed world and more and more around the world. Because this multibillion-dollar industry is managed by a large nonprofit company, it is not surprising that they gain an increased profit thanks to valuable content created by a poorly paid or even unpaid creative mind. For other users, like viewers and curators, it's even worse. Social activities, reviews, recommendations for great content or valuable content are not compensated or at that time even censored.

Some companies like Facebook and Twitter have absolutely no revenue-sharing formula, despite earning billions of dollars of advertising revenue. On the other hand, the price gap with paid online video services does not need to be folded, like paying content without ads is possible only on subscription-based or pay-per-view media. Buzzshow offers a fresh decentralized approach to the online video market that will restore power to the hands of creators, curators, and consumers on the market base. Based on a decentralized book system, so that the content, curator and consumer community can decide among themselves what values are appropriate for each other's services, without a central party standing up to take most of the profits. This means the opportunity for all users to receive economic rewards every time they sign up, view, upload, recommend or share videos.

What Is BUZZSHOW ?

Buzzshow is one of the first video social network sites that adopt blockchain technology to provide a platform that puts the interests of content creators, curators and viewers first. The blockchain uses Goldies as the cryptocurrency that incentivizes creation, sharing and viewing of videos on BuzzShow. Members of the platform not only earn as a content creator, but they also earn when they share videos and when they view videos. This is the first fully developed social video network that allows everyone involved to contribute and earn money on the platform.

The platform intend to us IPFS (InterPlanetary File Sharing) in its future releases to ensure that the content is truly decentralized. This allows files to be stored without relying on a centralized database as most video websites rely on. As a result, it is not susceptible to any DOS attacks or ransomware attacks because the videos will be held in multiple systems. The benefit is that it is faster, more open and safer than the centralized database reliant methods of video streaming. This technology is useful for BuzzShow because it allows the platform to be truly decentralized while saving bandwidth costs considerably.

BUZZSHOW Vision

At present time, small group of digital media corporation are controlling all video content created and published online, mainly Google (via YouTube) and Facebook and most creators who create content either professionally or UGC, are the majority of the time not rewarded for their work.

BuzzShow is a new type of Social Video platform, decentralized and powered by the creators and curators. Video creators are rewarded with Goldies (the currency used in BuzzShow) according to the popularity of their video. A Social Video platform that is decentralized and operated by the people creating and using it,has the potential of becoming the number one video site globally. As soon as technology has advanced sufficiently, BuzzShow content will be stored de-centrally (e.g. through an IPFS).

WHY BUZZSHOW IS DIFFERENT

Developed & Tested Product

BuzzShow Phase 1 has already been developed, tested and is available online, see for yourself! Most Token Sale start while the platform is only in a conceptual stage, with only a white paper to back up the funds raised in the Token Sale. The BuzzShow Token Sale is different. We offer a developed and tested platform and will use the funding to make it operational on blockchain technology as well as to rapidly develop a strong user base.

Third Generation Blockchain Technology

The next release of the BuzzShow platform will be based on third generation Blockchain technology, providing the benefits of absent transaction fees, sufficient capacity, stability, and security that is crucial for a social media network.

Your Content, Your Privacy, Your Rights

Rather than protecting consumers, social media platforms such as YouTube, Facebook and Twitter, have been trading privacy for profitability and freedom of speech for censorship. The BuzzShow social media network will provide its users with full control and ownership of their content, including its distribution, monetization and selection criteria, while only disabling content that’s demonstrably illegal.

Reward Based Social Media Video Network

Platforms such as YouTube & Facebook give little to no rewards to creators and curators and surely do not reward viewers despite exponential growth of the online video market. BuzzShow creates a new reward based incentive eco-system based on the popularity of online video content, rewarding users with Goldies for creating, curating, sharing & viewing videos.

How Buzzshow Benefits Users

Different users of the platform will get different benefits depending on their contribution to the site. The specific benefits for each of these groups are as follows :

Video creators will earn Goldies for both creating contents and adding it to their channel as well as when users view the video. This gives video creators a dual chance of earning revenue. They can also charge premiums if they would like.
Video curators will earn Goldies every time they share a video or when a video is viewed on their channel.
Viewers will earn Goldies when they watch videos on the platform, and they can use these Goldies to pay for premium content from their favorite content creators.
Advertisers can buy Goldies for use to pay advertising space either from the curators or specific content creators.
Validators verify the adverts that are included in video to ensure that advertisers only market based on the advertising space. These validators are paid using Goldies.
Moderators earn Goldies by validating whether the content shared by creators adheres to the terms and conditions. They flag issues like racism and inappropriate content to ensure that users do not violate their terms.
Developers / Platform retain some of the Goldies reserved for them. Additionally, they earn based on any plugins and upgrades introduced to the platform.
Buzzshow will provide a storage option by liaising with other decentralized storage firms and allowing content owners to pay a small fee to store videos on the blockchain.

GOLDIES – NATIVE TOKENS OF THE BUZZSHOW PLATFORM

Goldie is an ERC20 token that is based on the Ethereum platform. The base-language used for development is Solidity. It shares a lot in common with JavaScript making it easy for developers with knowledge in the latter to develop in Solidity. Ethereum allows tokenization of assets on the platform without the need of creating a completely different blockchain.

Buzzshow creates a specific e-wallet that is both scalable and customizable. The customizations are made possible by incorporating features from developers in the Ethereum platform. The applications and plugins will require little or no modification to be introduced into the platform. The API clusters also determine the terms that are used in the smart contract. Moderators will be able to automatically detect when one of the users have contravened the community’s regulations. The user will be given a negative rating and fined a certain amount to deter them from making the same mistake. The main issues that will be prevented will be copyright infringement and the uploading of inappropriate content.

Since the platform uses EVM (Ethereum Virtual Machine) tokens, some additional features are expected to be rolled out in the future. Phase one of Buzzshow Web, and Android mobile app are developed, and Alpha tested with a substantial number of users, and iOS mobile applications will be developed next to make video consumption easier after the beta version will be fully tested and released using already the Tokens. Ethereum is also developing a polling feature that will be introduced into the platform either in the beta version or in the full live version. The polling feature will allow users, content creators and curators to vote on specific key changes that will be made on the platform. This will help in the development of applications and plugins that are user-centered.