StreamSpace ICO details
Start Date: 2017-10-23
End date: 2018-2-27
- Site: StreamSpace site
- Twitter: https://www.twitter.com/streamspaceinfo
- Facebook: https://www.facebook.com/streamspace
- Github: https://github.com/StreamSpace/StreamShares-QT
- Reddit: https://www.reddit.com/r/streamspace
- Bitcointalk: https://bitcointalk.org/index.php?topic=2214904
- Medium: https://medium.com/@stream_space
StreamSpace intends to launch an innovative platform and community that will link creative, independent filmmakers with audiences that seek out quality, edgier film experiences.
There are nine key components to the StreamSpace platform:
- Secure storage method of the video content, based in part on Protocol Labs’ IPFS. StreamSpace holds a provisional patent on its method for secure storage.
- Blockchain transaction ledger for enhanced transparency and security.
- Front-end decoder and embedded HTML5 player optimized for video streaming, initially on PCs, followed by the most popular consumer video consumption clients: Apple iPhone, Android smartphones, and SVOD portals connected to HDTVs (including Google Chromecast, Roku, Microsoft Xbox, Apple TV, Amazon Fire, etc.).
- Content recommendation engine that helps consumers discover new content that fits their tastes, based on viewing habits and reviews / ratings. Our goal is to lift the restrictions which currently inhibit discoverability by consumers.
- Secure digital wallet so consumers and filmmakers can manage their accounts and stored assets with confidence. A unique digital wallet format will allow the account value to be held in StreamShare tokens (SSH) and will support transferring to fiat or other digital currencies. A second digital wallet will be created to reward the individuals who support the network by offering storage capacity for content. This second token system will be called StreamSpace Coins (SPC), which will be convertible to SSH.
- Private token exchange that monitors the market value of SPC and SSH tokens, enables the financial transactions between consumers and filmmakers, and converts between fiat currency and StreamShares or between StreamSpace Coins and StreamShares, and then back to fiat currency whenever the filmmaker elects to “cash out” transactions.
- Community-focused front end for filmmakers to upload their products to StreamSpace’s environment, set prices, and analyze statistics about the popularity or reviews of their content.
- Social media channels that link filmmakers to each other and to their audiences. A key element of StreamSpace’s strategy is to give filmmakers the ability to circumvent the studio-driven promotion system and control their own marketing. Social media channels represent the most economical and innovative way for filmmakers to connect with their potential audiences around the world.
- Initial Coin Offering / Token crowdfunding campaigns for new film projects on behalf of filmmakers that are interested in this uncommon technique for raising the funds necessary for a small or mid-budget film project. StreamSpace anticipates that many independent filmmakers will be interested in working with us to raise between $100,000 and $1 million to finance new projects.
StreamSpace incorporates cutting edge technologies like decentralized storage systems and blockchains, which make it the most progressive streaming marketplace in the world. Filmmakers set a price for their work and are paid immediately by consumers, disrupting the traditional industry model.
- Decentralized storage system provides security from piracy
- Enhanced control over distribution including the ability to set prices
- Immutable Blockchain Ledger – instantaneous and transparent payment systems
- Unique content delivered directly from the filmmaker
- Personalized recommendations
- Make history by joining the first volume blockchain distributor for streaming film
Blockchain – how does it work at StreamSpace?
Decentralization is a very innovative and interesting service that is in beta testing phase. Let’s put in a background. Five years ago bitcoin was born, a revolutionary idea centered on a totally new concept, the chain of blocks or blockchain. There are not many who follow the progress of this cryptocurrency, but those who do see how the authentically revolutionary is not the currency itself but the blockchain technology. This element has already been recognized by important people in the technological world, as one of the great advances in the creation of the Internet. Well, I’m not going to talk about bitcoin or the chain of blocks, these concepts are somewhat complicated and require separate entries where we will address the issue. One of the easiest ways to explain the operation of blockchain is through a financial transaction, simulating a transfer from source.
Digital Wallet & Smart Contracts
One of the great design advantages of Ethereum is the Ethereum Virtual Machine (EVM) that can execute smart contracts submitted to run on the Ethereum chain. These contracts are self-enforcing and cannot be manipulated or censored, which allows programmers to automate many processes that traditionally require an oversight board.
This yields advantages in terms of content security and transparency of the transactions along with the transaction history. Examples of applications include e-commerce, real estate transactions, legal contracts, and financial trading. The smart contract acts as an escrow system, whereby the payment is not released until the “product” has been delivered and acknowledged. A digital wallet holds the funds in the form of a specific number or fraction of StreamShares tokens, represented by the token symbol SSH, assigned to a unique account identifier with a private and public key.
As an example, a film enthusiast logs into his account, adds US$5.00 in value to his digital wallet (either by electronic funds transfer directly or through a service like Paypal, an online credit / debit card transfer authorization, or by exchange of a fraction of a bitcoin or other cryptocurrency through an exchange), and then clicks to watch a film. That last click initiates an immediate token transfer from his digital wallet to a smart contract, in which a small portion of the fee is sent to StreamSpace and the balance is transferred to the copyright licensee or owner for the film. In a basic example, one filmmaker would own 100% rights to the viewed film, and all revenues other than payment fees and StreamSpace’s hosting fee would transfer to the filmmaker’s wallet.
The copyright owner for a film may be a single individual, but more commonly may be a group of individuals with differing percentages of ownership rights. StreamSpace will track the payment transfers from each viewer to the respective copyright holders according to whatever terms are appropriate for each film project; there may be tax consequences for payments, which would represent business revenue or income to the copyright holders.
Each of the copyright owners has the ability to accept revenue payments in some fraction of StreamShares (SSH) and fiat currency. StreamSpace will use a private exchange and convert SSH tokens into fiat currency at any time for the wallet holders, with the exchange rate determined by an average of current day exchange rates across all public exchanges that accept SSH tokens. In order to encourage copyright owners and other investors who hold SSH tokens to retain them, StreamShares wallet holders will accumulate a 2% maximum interest rate compounded daily on tokens that are at least 8 hours old, based on a secure Proof of Stake Time (PoST) protocol.
In addition, StreamSpace will charge a minimal exchange fee for all transactions from SSH into fiat currencies.