Great tech for great ideas: how blockchain benefits Qravity project founders

Every day at least one person in the world has an awesome idea for digital content. Some of those ideas evolve into hit movies, chart-topping songs, must-binge TV, killer apps, best-selling ebooks, and addictive video games. In order for project founders to make innovative content concepts a reality, they usually need a creative team. They also need a means of protecting their content from hacking and piracy during production and especially during distribution.

A powerful ally in the fight against cybercrime

Managing creative projects is challenging at best, a chaotic mess at worst. Project founders have access to a wide variety of applications to help them guide their teams. These task assignment and tracking tools exchange data among team members, typically in the cloud. While this is highly secure, it’s not perfect, a project’s centralized data storage and transmission processes are vulnerable to hacking — it’s just a matter of finding a single point of entry. Cybercrime has become a major concern in the entertainment industry since the 2014 Sony Pictures data breach; media development and distribution giants including HBO, Netflix, and Steam have also fallen victim to hackers.

To help protect digital content during its development and distribution, Qravity is integrating blockchain technology into its platform. This ensures that the data in each project is immutable, tamper-resistant, less prone to being lost or deleted, and highly resistant to hacking.

Piracy prevention

A 2017 Digital TV Research report states that the global cost of piracy of TV shows and movies alone will total $52 billion by 2022, and that’s not including sport or pay TV. Somewhat oddly, the piracy of video games may actually lead to increased video game sales, according to an extensive European Commission study. Despite the anomaly of the gaming industry, piracy is a serious, and costly, concern throughout the digital media industry as a whole.

Blockchain tech can help reduce, or even eliminate, the piracy of a Qravity project founder’s content. With a blockchain-based smart contract integrated into it, a person can only watch a Qravity-produced and distributed movie once they’ve honored the conditions of that smart contract. In this example, the viewer needs to pay a quantity of Qravity’s cryptocurrency, QCO, in order to “unlock” the movie. The contract’s immutability prevents anyone from cracking and sharing the movie either directly with others or via torrent sites.

Task tracking, ownership, and fair pay for creators

Project founders who assemble creative teams to develop their ideas on Qravity also get an efficient means of paying the creators. The platform’s built-in smart contracts enable them to allocate project ownership stakes in the form of Qravity project tokens (QPT) to each task. Once a creator completes a task, and thereby honors their contractual obligation, the smart contract sends the QPT allocated to that task to the creator. On project completion, whenever someone buys the resulting content with QCO, the creator receives a portion of that payment based on their QPT. This system keeps track of royalties, and ensures timely payouts, relieving the project founder of these responsibilities. At the same time, providing creators with shares in a monetizable digital content project reduces funding requirements.

A path to successful content creation

Project founders that use Qravity get much more than a comprehensive project management and communication tool. As it supports them and their teams to realize their vision, the decentralized content production and distribution platform helps protect their content and ensures equitable compensation for all team members. There’s never been a better time for great ideas.