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Lino Has Raised $20 Million Towards “Crypto-YouTube”

Changing the Video Community Platforms Through Blockchain Technology

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Lino has recently acquired $20 million through China-based Zhen to fund its new video distribution network. The startup is utilizing blockchain technology to eliminate intermediaries in video distribution to ensure that content creators earn more. Founded by Wei and his co-founders, Lino hopes to decentralize the content economy and create a platform where content value is recognized efficiently, and content creators are incentivized directly and effectively for long-term economic growth.

Wilson Wei, CEO of Lino stated,

We believe that blockchain has enormous potential to empower video creators by decentralizing how their content is distributed and ensuring that their earnings go directly into their pockets. We want to eliminate the middlemen in video streaming.

How Do the Current Video Content Platforms Work?

According to Lino, companies such as YouTube enjoy benefits because they monopolize all means of content distribution. As a privately owned entity, YouTube has a fundamental interest in maximizing profit, which puts it in direct conflict with content creators. For these reasons, the creation of a collectively-owned, decentralized distribution network will ensure that all content value is directly distributed to content creators and contributors without going through an intermediary.

The existing market manipulates broadcasters and users by squeezing out every penny through commissions, service fees, and push advertisements. Despite receiving contributions from users, intermediaries are enjoying the biggest portion of profits while broadcasters only receive small rewards for their content. Users are constantly dealing with push adverts, and do not receive rewards for their data contribution towards curating better content.

Why Should YouTube Be on the Lookout for Lino?

Lino decentralizes content through the following infrastructural components:

  • Users only use LINO tokens to pay content creators, creating a free-transaction platform. The cryptocurrency enables real-time free transactions among users.
  • Lino’s incentivized model creates a sustainable, digital content economy by incentivizing all community contributions including content generation, content redistribution, application development, and infrastructure services. Video creators are rewarded for generating content, while viewers are rewarded for curating content.
  • Lino prevents robots from manipulating the reward system and creates human engagement. The platform is highly protected from attacks.
  • Lino measures the revenue collected from specific content as is reflected by the value in the market, and takes several reasonable and efficient measures to prevent fraud.
  • Lino offers a peer-to-peer, auction-based Content Delivery Network (CDN). It also stores videos and offers live streaming in a decentralized manner.
  • Viewers can finally enjoy watching content without advertisement interruptions. Since Lino is a community-based self-sustaining platform, advertisement charges are unnecessary. All users own a portion of the platform and can enjoy content without ads.

What Should Users Look Forward To?

The collected funds will be used to develop the Lino Blockchain and Lino’s video streaming DApp, to be launched later this year. Lino will also expand marketing and operations. Apart from Zhen Fund, other investors include FBG Capital, DFund, and INBlockchain.

What do you think about Lino’s move? Leave us your thoughts in the comments section below.

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