CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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Blockchain technology is already proving disruptive, and for the good, within finance, banking and investment. With new industries being penetrated by blockchain enabled innovations and industry giants mulling their options, whether to adopt blockchain applications or not, one industry where changes are already birthing, is entertainment and media.

Online Entertainment: the Current Dynamic

The revenue sharing model of the large online platforms, such as Google, Instagram, and Facebook, is one where the majority of proceeds (mostly from ads) is retained by the distribution platforms. This model has gained ill favor recently, and to illustrate this point: breaking into the top 3% of YouTubers with 1.4 million monthly views may only translate into $17,000 USD per annum unless you have a celebrity covering your back.

By exploiting smart contract technology and node content distribution on the blockchain network, a system can be created the users of a specific content network are in turn the owners and beneficiaries. This enables content and revenues to be distributed equally among all participants, and eliminates unnecessary intermediaries through direct interaction of the network members, regardless of whether they are content creators, users, or both.

The BUCKY House Model

By using the BUCKY House ecosystem creators such as authors, designers, musicians, actors, and developers are directly connected with their audience. Within their network of users who share their interests and passions, the creators set the fees for use of their content. This is managed by the ethereum smart contract system, and the billing is transparent from the outset. Payments are automatically authorized by smart contracts when specific criteria are met.

By utilizing this model, subscribers effectively pay less for exactly what they want and nothing more while the content developers receive the majority of the revenues with a portion distributed between the followers who host their content. Advertising doesn’t fall into the equation.

The Underpinning Philosophy

The philosophy forming the foundation of the BUCKY House platform is one where creative individuals and groups can publicize themselves and their work to establish a network of followers. Through the open source ecosystem they can distribute their content unbounded by geography, demographics, politics etc. and have complete freedom to decide their own fees and monetization model.

“Your Content – Your Rules – Your Billing”

The BUCKY House slogan in effect means that creators have complete freedom to decide their content and are unrestricted by others (production houses in particular). They create the rules for distributing their material among their follower network. The creators and followers together decide and agree upon the parameters of the smart contract, including the proportion of revenues allocated to the various parties.

Blockchain Uptake of Media & Entertainment Subscribers

The more cynical-minded reader may be thinking: “these blockchain tech companies are basically replacing production houses.” However, the shift is more fundamental than this. While blockchain networks require maintenance, and of course need a revenue source, the financial structuring completely departs from previous models. Through creating an ecosystem where users control their own content and directly interact with their followers, the control fees shifted away from a central hub and directly into the hands of those involved in creating and using that content.

Furthermore, blockchain is efficient at handling micropayments, something which large corporations and banks avoid, and the transaction costs are minimal. Through regular micropayments between users, the platform receives sufficient revenues from minimal percentage fees to maintain its costs.

Upcoming Token Sale (BUCKY)

Visit us today to learn more. If you are interested in creating, promoting and viewing world-leading content, knowing that your proceeds are going directly to the creative community, then you are welcome to participate in the upcoming BUCKY Coin token sale and contribute to the platform development.

www.buckycoin.io

 

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What does it take for Bitcoin to achieve mass-adoption?

CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

What does it take for Bitcoin to achieve Mass-Adoption?

The biggest obstacle for Bitcoin right now is, that so few people use Bitcoin. But why do so few people actually use Bitcoin from a day-to-day basis? Well, the answer is, because so few people use Bitcoin. That might sound a bit confusing right away, but I will explain myself.

Bitcoin has the obstacle to overcome, same as Facebook. Facebook became so valuable, because literally every friend of yours, and their parents where using it. If no one used Facebook, then I really doubt it would be nearly as valuable to humanity as it is today.

The same exact thing also applies to Bitcoin. What makes money valuable, is the fact that you can pay anybody for anything with it. Good luck paying your local supermarket in Bitcoins. It just doesn’t make sense to do so.

This is also called the network effect. It sates, that a system is only so valuable, as the number of people using that system.

So, let’s dive into the 3 deciding factors, that must happen for Bitcoin to fully achieve mass adoption.

First, of course, is the support by a big corporation or even country. For example, if a big company like McDonalds starts to accept Bitcoin, then people would be more inclined to make purchases with Bitcoin. This makes total sense, because why would anybody adopt the usage of Bitcoin, if you couldn’t make any real-world purchases with it? Exactly, it doesn’t make any sense whatsoever.

The first point was pretty obvious, so let’s look at the other deciding factors, that are crucial for Bitcoin to be mass-adopted.

Did you actually know, that a third of the world’s population, 2,5 million adults to be precise, do not have access to the banking system? Yeah, what people in the first-world countries take completely for granted, isn’t all that common all around the world: A bank account. On the other side, many more people in these third-world countries do have mobile phones, but no bank accounts. So, what if all those people start using Cryptocurrencies, like Bitcoin, for their online and day-to-day transactions? They could skip the traditional banking system and directly buy and sell Bitcoin from their smartphones. If one third (or even less) of the world population starts to use Bitcoin, it will gain world-wide recognition and overtake any other currency.

The third scenario that could happen, is that a major economic collapse or abuse occurs. When this happens, lots of people will want to transfer their wealth to something that isn’t dependent on any country or government, but is universally accepted in every country of the world. There aren’t many options for such things. One of these things is, gold. And the other could be Bitcoin, which I see as the digital version of Gold.

I hope we will never have to experience such a catastrophic event in our lifetime, but it sure is a positive thing for Bitcoin, since lots of people will adopt it.

These are all the point I could think of. Thanks a lot for reading and have an awesome day! Visit me at flashipcrypto.com for more Crypto-article?