When you hear the word blockchain, the first thing that comes to mind is most likely bitcoin. However, the potential applications of the blockchain technology go way beyond digital currency. Hundreds of different platforms and applications are now using the blockchain to create public records for various purposes. MEDIA Protocol is one of those platforms.
Consumers play a very important role in today’s digital economy. The data they provide is incredibly valuable for content creators and publishers alike. However, consumers almost never get anything in return. MEDIA Protocol is here to change that. They want to create an economic model where intermediaries are eliminated, and both publishers and consumers are treated fairly.
MEDIA Protocol is not actually an app itself. It is a platform that allows developers to easily create a new type of decentralized apps. These apps will give the users a new way to find relevant content.
So how exactly does it work? Using smart contracts, the MEDIA Protocol allows publishers to offer incentives to the consumers for any kind of interaction with their content. This way, the users can receive a small reward in the form of MEDIA tokens for reading articles, watching videos, sharing content they like or recording their preferences. Once the users earn enough MEDIA tokens, they can use them to pay for subscriptions and paywalls or offer tips to the publishers they like. It will also be possible to exchange the MEDIA tokens for any other cryptocurrency.
Even though MEDIA Protocol is a young project, the team behind it is relatively large. There are 16 members. Some of them are blockchain developers while others are data scientists and marketers. Regardless of what they do, all the members of MEDIA Protocol team are competent and accomplished professionals.
Tom Graham and Martin Adams are the founders of MEDIA Protocol. They are both successful entrepreneurs with experience in the fields of digital marketing and artificial intelligence. Adams graduated from Harvard Law School and later worked as an attorney specializing in digital economy and intellectual property. Tom Graham, on the other hand, has previously co-founded MapD, a powerful analytics platform. He is also one of the founders of the Digital Future Council think-tank.
Graham and Adams are also the co-founders of Codec.ai. Codec is an award-winning startup focusing on content marketing. They use machine learning and AI to analyze the behavior of consumers and discover what really makes good content. MEDIA Protocol uses the same technology in order to provide better feedback to the publishers and a better experience to the consumers.
The MEDIA Protocol team is also supported by a board of advisors. Some of the board members are important figures in the world of crypto. The CMO of the EMEA division of GoDaddy, Kate Cox, and Mark Adams from Vice are only some of them.
The founders of MEDIA Protocol have recognized a big problem in today’s digital economy. We have all noticed that content marketing has been on the rise in the last couple of years. However, the existing system doesn’t seem to work. Instead of getting relevant and engaging content, consumers are faced with bland and boring news feeds. MEDIA Protocol offers a promising alternative. Not only do they claim that they can deliver better content, but they want to compensate consumers for their work too. However, the project is still in its early phases, and it’s hard to tell what the future will bring.
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