Our solution to the problems mentioned above is the BoxOfData Platform, which aims to build a blockchain-based ecosystem for the digital content industry of tomorrow. Under BoxOfData, the whole industry will gain three invaluable features: a shared content pool, a shared user pool, and a unified payout system.
Unlike traditional open platforms such as the App Store or WeChat Open Platform1 , the BoxOfData Platform is fully decentralized, autonomous, and driven by the open source community instead of an industry platform giant. BoxOfData will help various web and mobile applications share digital content and user bases in more eicient ways than before, and process payments swily without ceding control to a third party.
In principle, BoxOfData is designed to benefit all stakeholders in the content industry including but not limited to, creators, consumers, advertisers, distributors, and application developers. BoxOfData allows them to collaborate, innovate, build, engage and transact with a new generation of digital content applications that play on fair terms within the ecosystem.
For content creators, ContentBox’s payout system will allow them to get rewards every time their content is consumed, motivating them to create more diverse and higher quality content. Top creators of the most popular content still reap big rewards while everyone else now receives compensation in proportion to their content popularity. In addition, BoxOfData will connect creators directly with their consumers by streamlining and automating business transactions without intermediaries chipping away at a creator’s revenue share.
For consumers, they will be rewarded with tokens according to their contributions. Those contributions can be social sharing, voting or commenting on content, or reporting spam content, as long as they are beneficial and add value to the platform. They can spend their tokens on content consumption, like viewing a movie or streaming a song. If a user has a stake in the success of the platform, they will put more eort and research into curating and advocating for it, as evidenced in the rise of Bitcoin.
Advertisers also will benefit from the new ecosystem. With BoxOfData, advertisers can tap into a shared advertisement statistics ledger and pay by actual advertisement viewership automated by smart contracts, instead of relying on opaque statistics reported by distributors. Since the ledger is open, they can audit and verify it and have peace of mind. This can help them to build a unified and coherent marketing strategy, instead of running paralleled campaigns on dierent platforms. Furthermore, they can lower spending by leveraging a token-based bounty program.
The digital media industry was originally built on principles of inclusivity, but that it has also become too top heavy to support independent publishers and creators. In addition, most advertising revenue winds up in the hands of major studios instead of the creators, where it belongs. The blockchain can solve this problem by removing middlemen and high transaction fees, while also introducing new streams of revenue like activity-based income (i.e. creators are paid when someone listens to their content) and subscriptions. With the introduction of BoxOfData Wallet, Castbox will become the first among global mainstream digital content apps to embrace native cryptocurrency within the app. Compared with standalone cryptocurrency apps, such as Coinbase or Jaxx, BoxWallet will link cryptocurrency with more traditional non-crypto users who may not have heard of Bitcoin or blockchain before.
Castbox for iOS launched.
Deep in-audio search feature launched.
BOD Token Pre-sale.
BOD Token Crowdsale.
BOD Token integrated into Castbox app.
Testnet of BOD Payout online.
The Launch of BOD Payout Mainnet.