Many people have been asking us why we’re tokenizing our existing business after seven years and what impact will it have on our existing video streaming platform.
We’ve been in this industry since 2011 and have worked diligently to establish partnerships with LG, Samsung, Apple TV, Philips, SONY, Skyworth, TCL, Android TV, HiSense, Amazon Fire TV, Roku TV and others, and build our content library with 200 channels and more than 50,000 movies.
We’ve seen firsthand that the Video on Demand (VoD) and Over-The-Top (OTT) industries are rife with issues. The industry has not caught up with technological advancements, making archaic methodologies still prominent in one of the fastest-developing areas.
Content owners are often unable to sell their product elsewhere, suffer from piracy, and can receive as little as 3% of the total ad revenue. Brands with small to medium-sized enterprises are unable to enter the market, due to high costs. Not to mention, they have limited access to user data and face barriers from ad-blocking. Users often encounter unwanted content in their subscriptions, earn nothing from watching the advertisements, and have little control over their personal data.
Why Tokenize?
Tokenization means essentially taking an existing business and introducing an internal currency to support business activity. There are a few reasons why businesses are making this move.
In some cases, tokens can be transferred at lower costs and higher speeds — essentially making transfers of smart contracts fair and easy. In other cases, businesses tokenize because the addition of a token can provide value as a new revenue stream.
We’ve chosen to tokenize our business because blockchain has the potential to remove intermediaries from the equation. With DIVAN.TV 2.0, we can decentralize the industry’s rules in the sense of user experience so all parties may directly transact with one another. No trust is required, because everything is recorded in smart contracts on an irrefutable ledger.
Our existing, video-streaming service DIVAN.TV will continue to operate alongside DIVAN.TV 2.0 on Smart TV in all 195 countries with a focus on diaspora populations living outside of their homeland.
Tokenizing our existing business will give us the power to address so many of the above mentioned issues in the industry.We will explore each of them over the next few weeks here on Medium.
