Jbox Uses Blockchain To Challenge YouTube Dominationbr>
London’s JBox is a blockchain video streaming application founded in 2016 that incentivizes users to upload videos to its platform and pays in JBX coins for viewing them. They are underway with an initial coin offering that concludes December 8, hoping to raise funds to upgrade its platform server, enhance platform load and playback speeds.
“Today’s primary video upload platform is YouTube, which does not have any real competition and doesn’t incentivize video creators for uploading video content, nor viewers for watching video content,” said founder/CEO Julius Jamani, who answered a few Block Tribune questions as his ICO kicked off.
BLOCK TRIBUNE: Tell me how your system works. Someone comes to your site and what happens next, from a viewer standpoint and a publisher standpoint.
JULIUS JAMANI: From a Video Uploader and Publisher standpoint, you will start by creating a JBOX Account. Those accounts can be activated with either the uploader’s social media account or a with private, securely-generated private key. Into that account, the JBOX video uploaders (uploaders only) will need to further confirm and activate their JBOX account by depositing $5.00 worth of JBOX tokens into their JBOX account wallet. Once you log onto our JBOX platform, you will see videos organized by category. For example, there will the broad categories of Sports, Education, Music, News, Fashion, Beauty, Automotive, Authors, Food, Drinks and Beverages, Entertainment, Documentaries, Comedy.
There also will be preset subcategories in each of those broad categories. However, if a video uploader doesn’t see the the proper sub-category for their video, they will be empowered to create and name the correct and appropriate subcategory to classify their video. From there, there will be a simple blockchain upload interface to securely upload your video from your mobile device, computer, or tablet.
When our viewers come to our site and want to earn JCoin, they also start by following the same process as a video uploader — simply create a JBOX account using either their social media account or by requesting a private, securely-generated private key to activate their account. They do not need to deposit anything into their wallet to start earning JCoin. Viewers simply select videos from the categories that most interest them and begin watching. Their JBOX JCents will start to accrue automatically. Each 20 second video earns one (1) JCent. Similarly, a 60-second video is three (3) JCents. To earn one (1) JBOX token, a viewer will watch the equivalent of one hour of unique videos, meaning that the viewer cannot earn JCents by watching the same video content over and over. The JBOX viewer must watch different videos in order to accrue JCents.
BLOCK TRIBUNE: YouTube restricts a lot of content that it deems offensive. What are your guidelines?
JULIUS JAMANI: We will restrict content that is pirated or not unique; we are very concerned about piracy. We at JBOX are dedicated to creating a platform for unique video content; we will only reward users for uploading and for watching unique video content. Our platform has innovative software that can proactively assess video content and determine whether it is unique or not. We call our software algorithm Dragon Bot. We are also very concerned about privacy and offensive content; our Dragon Bot algorithm will proactively identify and remove explicit content. However, if and when our users alert us to offensive content, we will investigate immediately and if it is offensive we will take down.
BLOCK TRIBUNE: Similarly, YouTube takes down a lot of video over copyright issues. How will you manage that?
JULIUS JAMANI: Our software algorithm Dragon Bot can proactively identify offensive content – like content of an explicit sexual nature – and flag it for us so that it never gets posted.
BLOCK TRIBUNE: Are there any plans to incentivize your most popular talent with additional benefits?
JULIUS JAMANI: Every JBOX user is incentivized for watching and for uploading videos. If a person uploads a video that becomes very popular – let’s say 25 million views worldwide – they will earn more JCents than a person whose videos attract 500 viewers. Our goal for the first year after JBOX officially launches is to attract a user base of 1 million JBOX users worldwide. We believe that 1 million users will signify to consumer brands that our platform is a viable platform for their advertising content.
BLOCK TRIBUNE: What will you use the ICO proceeds to do?
JULIUS JAMANI: We will finalizing and testing both our JBOX mobile app and the JBOX Decoder. The JBOX app for mobile devices and web will permit users to upload and view videos from their mobile device or their computer; the JBOX Decoder will permit JBOX users to upload and view content from their TV.
BLOCK TRIBUNE: If someone is diligent and watches a lot of video, can they make a decent amount of money via your platform?
JULIUS JAMANI: Our mission and vision at JBOX is to empower people all over the world to enjoy the experience of watching unique videos every day that inspire, inform and entertain them and to simultaneously earn money for doing so. JBOX is the first platform in history that empowers its users to earn money for watching videos.
BLOCK TRIBUNE: Any plans to syndicate or otherwise exploit the video content outside of your system? Or will it all be native?
JULIUS JAMANI: No, that is not our mission nor vision. Our vision and mission at JBOX is to create a worldwide user base of loyal happy JBOX users.
BLOCK TRIBUNE One of the complaints about YouTube from the publisher perspective is they are quick to take down things and slow to provide feedback on the why of that. How do you plan to address that?
JULIUS JAMANI: We plan to address videos on a case by case basis. Whenever a video is being taken down, the uploader of the video will receive an automatic rapid message stating that their video content has violated the JBOX standards in some way. The uploader will then have the opportunity for redress by requesting that our JBOX team re-review their video content.
BLOCK TRIBUNE: Is there a policy on sexual content?
JULIUS JAMANI: Our policy is that we do not permit explicit sexual content in JBOX videos.