What is Stream Protocol? — A Brief Overview of Stream Protocol
Stream Protocol is a content platform that fairly distributes revenue of OTT service. We utilize Content Smart Contract(CSC) of blockchain network to solve unfair income sharing and inefficient content production processes in the entertainment and media industries.
Amid the rapid growth of the contactless service market due to the COVID-19 pandemic, the media and entertainment market, or the content ecosystem, continues to grow. Even though it increased the total revenue of the market, most of the profit is distributed to a small number of platforms or producers. In contrast, many other contributors to content production only receive a small amount of promised payments. Such a revenue distribution system does not reflect the actual contribution of the production process overall, so it is regarded as unclear and unreasonable.
Accordingly, Stream Protocol was started to solve the problem of the industry’s unreasonable revenue distribution structure, and the solution we found was blockchain technology. Once stored, information cannot be modified arbitrarily on a blockchain network that ensures the data’s reliability and security. Therefore, the distribution system based on blockchain’s data is also credible.
In the Stream Protocol ecosystem, content makers put information about how much they contributed to content production on the blockchain network. After that, the profit gained by the watch time of viewers is distributed according to the recorded contribution rate transparently and impartially. Also, viewers can get a list of recommended content they may like based on their watch histories recorded on the blockchain.
The blockchain-based Stream Protocol ecosystem is implemented by utilizing the STPL token. Viewers pay for watching contents in STPL tokens, and they also receive compensation in STPL tokens for viewing advertisements and contents. In the case of creators, they receive rewards for content production in STPL tokens. Through this virtuous cycle, the production and consumption of contents in the Stream Protocol ecosystem will be activated.
Sendsquare, the company developed FLETA Blockchain, will provide overall project consulting and blockchain technology for building the Stream Protocol ecosystem. It conducts various blockchain businesses, including government-supported projects, SI projects, and development of blockchain use cases, based on its blockchain technology whose features are fast speed of 14,000TPS and infinite scalability. Moreover, in 2019, its blockchain-based eCRF system was selected as an outstanding project among the PoC projects supported by the National IT Industry Promotion Agency of the South Korean Government(NIPA). Also, in 2020, Sendsquare conducts two more South Korean government projects. Stream Protocol’s mainnet will be developed with Sendsquare’s FLETA Blockchain.
Furthermore, through a partnership with STABY, an on-demand service platform, we aim to create an ecosystem that all participants earn profit as much as possible. Together with STABY, we offer various services such as connecting advertisement agencies and content creators with cast and crew they need by using our AI Matching System. Especially, our revenue sharing OTT platform is distinctive; unlike most of the other OTT platforms charging membership fees, users can only buy content they want in Stream Protocol. It will fuel consumption, and the revenue will be shared among the participants of the ecosystem.
Stream Protocol and STABY will form an integrated platform that includes the media, entertainment, advertisement, and OTT market, which will eventually create a business model that can generate the ecosystem’s continuous profits. We ultimately aim to contribute to developing the whole industry and market. Additionally, we will create original content and scout our creators and actors to build a system that participants can create and consume in the Stream Protocols ecosystem. Our final goal is to be a global entertainment platform with many international users.