Blockchain Report — 4/11/2018
Summary: Content Creators Move To Blockchain Alternatives, Chinese Energy Company Files Blockchain Patent, Bittrex Accepts New Users
Youtube And Facebook Face Strong Competition From Blockchain-Based Alternatives
According to Bloomberg, an increasing amount of content creators from Youtube and Facebook are moving to alternative platforms that are powered by blockchain technology. Peter Czerwinski, who has close to 5 million Youtube subscribers, posted 46 of his videos on DTube. DTube is platform where creators make money from donations from viewers as opposed to earning advertisement revenue, and the moderators of DTube make an effort to avoid censoring potentially offensive material.
Reasons for switching to blockchain-based alternatives include the fact that it provides users with more control over their data, it provides users with a platform to release potentially offensive content, and it provides users with considerable upside in monetary rewards compared to centralized alternatives. Although blockchain-based platforms have at the moment only a few million users, this shift towards these types of platforms does represent a strong shift in the interests of content creators.
Chinese Energy Utility Company Files Blockchain Patent for “Internet of Energy”
According to Coindesk, China State Grid Corporation filed a patent in November of last year (which was released this week) which outline the plans of the company to use a blockchain-based system that can store and track information of consumer’s power consumption, and have the ability to share this information transparently and securely.
The patent is part of the company’s plan to have an “Internet of Energy”, which are the plans to integrate more information about electricity consumption and generation on web-enabled devices.
Bittrex Finally Taking New Customers
According to Coindesk, Bittrex is now accepting new users after the exchange paused registrations in December due to excessive demand from users to register for the exchange. During that time period, new users were put on a waiting list program and new customers will have to complete identity verification procedures to finish their signups. Furthermore, Bittrex announced that they were going to launch an enhanced website with improved security.
Bittrex CEO Bill Shihara stated that the reason for initially halting registrations in December was due to a “responsibility to provide customers with a reliable platform and outstanding customer service”.
This shows that Bittrex has been doing work on the exchange in order to prepare for a larger number of users who will potentially sign up for the exchange, and that other exchanges will most likely follow with upgrading their services to prepare for an influx of users.
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