Robert Binning, Co-Founder & CEO
In the middle of a “bitcoin-mining” session a few years back, Robert Binning, an active cryptocurrency enthusiast, and his friend James Baggett hit upon a brainwave that is bringing sweeping changes to the media industry. While blockchain technology— through its distributed framework—was already revolutionizing the banking industry, Binning and Baggett wanted to apply the technology to the $14 billion video streaming sector. Video and film content distribution power has historically been in the hands of a few huge, centralized corporations, restricting the ability of independent filmmakers to publish and make money from their projects. This limitation led to a quest for solutions that can offer the filmmakers more control over content monetization, content integrity, and rights ownership. The search ends with the new blockchain-powered StreamSpace platform, which streams videos on demand.
Their observation that over 80 percent of the films created every year do not reach an audience due to high promotion and distribution costs became an inspiration for the emergence of StreamSpace. “A platform where video content can be uploaded, promoted, and monetized by creators, StreamSpace allows filmmakers to connect directly to the filmmaking and the audience community and eliminates the need for middlemen,” states Binning who also holds the role of CEO at StreamSpace. The blockchain content delivery network ensures security since the files are stored in short fragments while decreasing the overall load on the network. Filmmakers can also communicate with their fans through social media channels, creating a deeper connection with their fans.
Using the StreamSpace platform, a viewer will be able to purchase and stream the content from a personalized portal.
The number of filmmakers wanting to get involved is more than we can take on and their support has been overwhelmingly positive
Payments are instant and go directly to the digital wallets of artists, so filmmakers immediately benefit from each purchase transaction, rather than waiting for periodic royalty checks. The smart contracts feature offered by StreamSpace automates payments and ensures transparency, so anyone can view the total payment history of a particular film, including all funds distributions between the involved parties. A direct relationship between the fans and filmmaker artists encourages the users to avoid piracy and illegal distribution, thanks to the awareness that the payments reach the people who created their favorite content directly, and not a large, faceless corporation.
The StreamSpace platform has already created waves among filmmakers. “The number of filmmakers wanting to get involved is more than we can take on and their support has been overwhelmingly positive,” adds Binning. Accomplished developers and blockchain experts within the team have given the organization a competitive edge in being able to understand the landscape and to better meet the customers’ requirements.
In its initial launch, the platform will feature nine important components including secure storage, blockchain transaction ledger, content recommendation engine, and a secure digital wallet. Currently working on building a team of members for its advisory board, the company just launched an Ambassador program through which filmmakers can promote themselves and showcase new projects. The organization also continues to iterate its Ambassador services, growing and refining functionality that better serves the filmmaker community. A one-of-its-kind platform that is certain to turn the tables for filmmakers by enabling them to reach out to their audience directly at a low cost, StreamSpace is a must to watch out for.