MEDIA Protocol - A project for readers and publishers.

Hi guys! How are you doing?

Today, I’m going to review about one of the most feasible project of this year: MEDIA Protocol.

MEDIA Protocol is an open architecture that create multi – directional economy that helps publishers, creators and content consumers in exchanging data, content and incentives, especially finacials incentives. The role of MEDIA Protocol to each vicim is different.

Firstly, MEDIA Protocol enable publishers to directly incentivise the consumption of content using MEDIA Tokens. Using MEDIA Protocol, publishers will be able to incentivise consumer interaction with content by using MEDIA Protocol to assign incentivives (in the form of tokens) to a specific piece of content, represented by a URL, and distribute the tokens as specific rewards for defined content interactions via apps and content distribution platforms that support MEDIA Protocol.

For example, there is a publisher called ABC which makes great content and they want to promote it to readers who are interested in a specific field. Usually, ABC will publish their content on the web and then they will post the content’s URL to a social network or content distribution platform. Finally, ABC will pay the platforms to boost the post and unlock wider distribution, in the hope that consumer will click it.

To consumers, MEDIA Protocol will connect them thanks to its intergrated apps to read content which they like. They will receive awards for the behaviours that benefit the content creator like spending time reading the content, sharing it or recording them, etc. MEDIA Protocol will send their users consumption rewards from the content publisher in the form of MEDIA Tokens. People can later use these tokens to tip their favourite publishers, pay for subscriptions or exchange them for other cyptocurrencies. Content consumers that use platforms supporting MEDIA Protocol will have the option to both earn and spend tokens.

On the other hand, consumers will monetize the value of the personal data created when they engage with content by a content distribution platform. Besides, consumers can contribute personal (but not attributable) data abot content consumption to a public record - the blockchain - to improve the relevance and quality of content that publishers and brands can create and avoid the "siloing" of data assets within a small number of corporate actors.

So what MEDIA Protocol can bring to both consumers and publishers?

MEDIA Protocol provides an alternative for publishers by creating a direct channel to incentivise content consumers to read its content and log their content interactions on the blockchain. Importantly, consumers do not have to give up their personal identity to publishers, only their MEDIA Protocol wallet address. People also gets paid for what they do everyday and publishers will receive transparent data about how its content is performing, without having to pay large distribution fees to media agencies and content distribution platforms.

Here is a illustration showing how MEDIA Protocol works:

Why MEDIA Protocol use blockchain?

First and foremost, the blcokchain provides several key advances that make MEDIA Protocol possible. The decentrialised nature of the blockchain removes the need for a middleman, who extract more value than they contribute to the system. As the network is completely transparent, the blockchain prevents any actor from being able to manipulate the system, and mean any fraud has to be in the open, where it can be combated. The blockchain also enables fast micropayments; if each interaction were to earn fiat money. With the blockchain transaction processing costs will go to almost zero as the technology evolves.
How about the Token economy of MEDIA Protocol?

The MEDIA Protocol token economy is designed to create an internal two-way token flow between content consumers and content promoters, promote token hold time and complement standard in-app user retention and gamification features. Core features of the economy include: Demand, supply, in-protocol payments, token hold channel: content promoters, Token hold channel: protocol-embedded hold time, Token hold channel: content consumers.

In designing MEDIA Protocol, their team had these following key criteria:

● Enable dApp creators to provide a slick, frictionless user experience to consumers;

● Maximise existing crypto infrastructure (such as ERC20) and the benefits it provides, such as tried-and-tested algorithms and existing wallet software;

● Ensure we leverage existing web standards where useful and possible;

● Provide mechanisms to foster an ecosystem around the protocol (e.g., affiliate fees for dApp creators);

● Make adoption as easy as possible for publishers; and

● Protect against fraud and bad actors.

Here is their team:

And this is the roadmap:

Through this review, we can see MEDIA Protocol is a project which can bring a lot advantages to consumers and publishers thanks to the blockchain technology. With the right direction, roadmap and viewpoint of the team, MEDIA Protocol is believed to create a big impact on this economy.

Thanks for reading my review.

Some contacts of the project:

Website: https://www.mediaprotocol.org/
Facebook: https://www.facebook.com/MEDIAProtocol
Twitter: https://twitter.com/MEDIA_Protocol
Medium: https://medium.com/@mediaprotocolsm
Linkedin: https://www.linkedin.com/company/media-protocol/

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Author: Khuongcute2503
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2080664