Kamis, 17 Mei 2018

"BitImage" Changes the Digital Content Industry $ 200B

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In the world of digital content and intellectual property aggregators, writers and buyers face a number of significant issues that directly and implicitly affect the entire stock market digital content. Before explaining the consumer experience, first determine the main reason why authors and buyers may need digital content.

Authors are artistic professionals who create intellectual assets using their extraordinary views and world perceptions. Their work is the creation of various images, video, audio, etc. The primary method for authors to monetize their work is to transfer non-exclusive rights to use copies of their work to other users for money with certain restrictions or to transfer exclusive rights through full sale. For this, the authors come to stock using existing content sales models.

Buyers are people or companies from industry such as mass media, games, cinematography, publishers, advertisements and many others whose consumption of digital content is an integral part of business. Because laws and intellectual property economies are now widely used in developed countries and are only gaining momentum in the developing world, the consumption of paid / paid licensed content is growing rapidly. Already today people are ready to pay for quality / legal content has no problem with the law.

Pricing and Market Models, Markets is one of many varieties of systems, institutions, procedures, social relations and infrastructure in which parties are involved in exchange. The market can take many forms. One of the key criteria of the market is the freedom of action of participants, which ensures competition. The greater the number of independent participants, the higher the market competitiveness. The market with one primary seller and some buyers is called a monopoly.

Since all existing stock leaders form their own prices, there is no stock market leader that will allow writers to set their prices to sell their work. The choice is only for buyers and limited due to the sales model described above. This creates a monopoly over prices and prevents open market relationships.

Content Validation, Validation in existing stock content platforms can take up to 1-3 weeks, which is a very long time in our information technology era. This delay negatively affects the earnings of the authors. The sooner the content will get to stock, the faster it can be sold.

Today on all stock platforms, content is manually validated by people, which is ineffective and takes a lot of time. In the case of manual validation, content is judged by people. They decide whether it will be sold, whether it is suitable for sale and hence as a result the content will always be affirmed in various ways that lead to instability. For example, you are a photographer and you know that now the trees with cones are in a trend, you are sure that your drawings will be sold in bulk.

Then you send it and, after check, you see it rejected as unnecessary since there are already lots of unconcised tree photos and someone decides that there is no difference - why do people need just another tree? All this causes the problem of losing income for the author.

Content Search, Stock Leaders have over 100 million different stock content items and it takes a very long time to find the content needed there, which is currently not an effective way to search. For example, busy people can not afford it. They choose quickly what they are looking for or spend a lot of time looking for what they need, while not always finding what they want. In addition, now the uniqueness of the content is in trend while the ability to order this uniqueness is not provided. Customers can only choose from what they see, which is a big limitation.

In the past, some large stocks have implemented Artificial Intelligence into their search algorithms to find the required content faster, but with the growth of content volume in stocks, this decision has not proven its efficiency.

Income Writers & Existing Business Models, authors who work with stock sites sign licensing agreements with them, which gives shares the right to sell their content. After each sale, the author receives a royalty. If you see Shutterstock, one of the leaders in the market, their sales rate with a subscription is: beginner writers earn $ 0.25 per sale; when they make $ 500 and more, then the piece increases to $ 0.33; when sales reached $ 3000 - $ 0.36; when sales reached $ 10,000 - $ 0.38.

For On-Demand sales, a novice writer will receive $ 0.81 if subscribed to a small size and $ 1.88 if subscribed to any size; after some time, this deduction grows to $ 1.24 and $ 2.85. In the case of sales under an expanded license or video sale, the author will receive from 20% to 30%.

Concluding, the existing stock business model is based on the fact that the authors load their work and the stock itself provides sales for a large percentage. But in practice, this is not so. Many authors or institutions (composed of many authors) promote themselves independently, attract customers and thereby increase their sales.

In fact, they are forced to do so because of the extra high cost required by the stock platform for the service. Authors are creative people, they lack the fundamentals of marketing. This all shows that the business model and working principle of shares are outdated based on the current market situation.

Many talented writers can not begin to realize their dreams and make money from their favorite business that keeps most of the market unexplored in the current situation. And those who have worked face great difficulties.

BitImage is the next generation digital media market with decentralized content licenses. BitImage, found online at BitImage.io, is a smart open digital market with unique features such as decentralized content licensing.

Anyone can use the market to trade, buy, or search for unique digital media. BitImage uses artificial intelligence and blockchain technology to deliver relevant content to users as quickly as possible. Types of custom content available on the BitImage platform include videos, images, graphics, and audio.

BitImage aims to disrupt the current on-demand digital media market. Today, the market is dominated by players like Shutterstock, GettyImages, and stock.adobe.com. These players offer media on demand through a centralized marketplace. Unfortunately, this centralized solution leads to a variety of issues, including all of the following: Copyright infringement; Tired, long search for relevant media content; Monopoly pricing; High price for customers and low royalty for writers.

BitImage aims to create blockchain-based markets for digital media content. The market will include features such as decentralized content licensing, cryptocurrency based payments, and artificial intelligence.

First, BitImage will use decentralized content licensing and blockchain technology to enable authors to safely protect their content. Customers, at the same time, can guarantee the uniqueness of the purchased works.

The use of cryptocurrency eliminates the centralized financial intermediary layer. There is no need for centralized payment processors that require hefty cost, for example. It reduces commissions and increases payments to users. That means businesses pay less for digital media content while artists make more money.

BitImage also uses artificial intelligence to verify media content uploaded to the platform. AI will scan the content for uniqueness, for example, then add relevant tags and analytics to the content within minutes of upload.BitImage will also have a work on-demand implementation, allowing buyers to order new unique content quickly.

The end result of this solution is the creation of a free market economy in which the price of the content is determined individually. Artists can make more money for their digital content while businesses can ensure they purchase unique content at a fair market price. Alpha version is available for Android today. You can view the APK file from BitImage.io. The iOS version is scheduled to launch in the near future.

The following excellent features of the project include: Decentralized Content License:

BitImage provides decentralized content licenses built on blockchain technology. This allows authors to safely protect their copyright. Customers, meanwhile, can guarantee the uniqueness of the work they buy.

Artificial Intelligence: AI checks and validates the digital media posted to the BitImage platform. AI also provides analysis of trending content while helping to categorize media. This saves time for authors while increasing their earnings. Implementation of On-Demand Work: Post a job with any terms and then accept the play key content. No other similar services offer this kind of on-demand job implementation.

Trade Transparency: BitImage aims to be 100% trustworthy, with all transactions secured by smart transparent contracts. Transactions on BitImage are secure, unchanged, and confidential with automatic compliance requirements.

Simple Payments Processing: Money transfers are decentralized and processed through the Ethereum blockchain. The original bit of BitImage, BIM, is the ERC20 token. That means it can be easily transferred at a fraction of the cost of traditional payment solutions. Banks and third party financial organizations are excluded from the BitImage transaction process, which means minimal transaction costs with the same level of security. Do not forget the content creator can set their own price on the platform. You can sell digital media with your own rules, for your own price, in your own way.

According to the categorization of the latest business model created by Michael Rappa, a professor at North Carolina State University, BitImage will be a mixture of Brokerage (Transaction) and Subscription business models. This means that monetization is applied through commissions introduced for each transaction between author and buyer, along with subscription purchases by authors that will allow them to access trend analysis tools. The commission percentage will range from 20-30% of each transaction.

Since it is embedded in the functionality, each user will have a personal rating in BitImage. These ratings are based on user-accepted ratings in certain circumstances that shape the user's reputation.

BitImage comes in the form of a digital currency named BIM. Token BIM will go on sale from April 26, 2018 to May 24, 2018, at a price of 130,000 BIM equivalent to 1 ETH. The token purchase itself can be done with foreign digial currency such as ETH. Do not forget, get also purchase bonuses at certain time period.

BitImage itself is the result of teamwork led by Kirill Yusov, in close collaboration, we strive to build every feature to meet all clients expectations. Below we introduce some team members who will work on the BitImage project to provide value to all consumers and manufacturers of digital media content.

BitImage brings together brilliant team of experts from different regions to collaborate efficiently while building an alpha version of a product (iOS and Android version) and bring the concept to market. Their expertise covers areas such as digital payments, mobile, finance, user interfaces, and of course, cryptocurrency.

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