This week we held our very first live Q&A session on the REOS YouTube channel with Project Lead Leon Bian and Head of Marketing & BD Jay Cheng. After sharing a bit about their backgrounds, Leon and Jay answered questions submitted by our community members via our social media platforms.
In case you missed it, here is a recap of the questions & answers:
Q: Will there be patent rights for the content submitted to REOS or how will the content be available for use?
Jay: Yes, any content submitted will be recorded on the blockchain to ensure proper attribution of ownership. The content will be available through the DApps on our platform. The content creators are the rightful owners of their own work. REOS is merely a platform that helps facilitate monetization and licensing of content with content creators’ interests in mind.
Q: How can you be sure of the protection of my rights to own a digital asset?
Leon: We have implemented a system to tokenize digital assets so that every piece of content is encrypted and protected. The content creator initially holds the rights. The rights can be exchanged to other parties on our platform. Our goal is to maximize income for content creators.
Q: What criteria will be used to value the content monetarily to prevent under/overvaluation?
Jay: We have implemented a content validation mechanism called Voting with Stakes to leverage the wisdom of the crowd to determine the true value of the content. But we understand that sometimes a democratic process can still be biased due to innocent reasons. We have also designed AI neural networks with machine learning to complement the voting process. Coupled with a content exchange, we believe that our platform will reflect the true value of the content.
Q: What is the process of validation in the digital assets industry and in particular in your company?
Jay: This is a big question. The world needs a system to both reflect the true value of the content and also weed out fake content. This is where traditional content distribution or social media platform has been failing.
When we talk about content validation on the REOS platform, we are talking about determining the true value of the content through a validation mechanism called Voting with Stakes. The community members will upvote and downvote for the content, and the final value of the content is determined by a weighted average of real user votes and AI based machine learning.
In the traditional industry, there is upvote / downvote but the system is prone to trolls and manipulation. In the blockchain world, SteemIT has led the field with its voting mechanism. However, the Steem Power is unevenly distributed to favor its insiders, so the process isn’t truly democratic. We believe we have a leading solution.
How does REOS compete with established competitors?
Leon: We will have strong competitive advantages on three fronts:
1. Technology. We have designed revolutionary technology both to protect digital content rights and facilitate content exchange with real-time content value determination by leveraging both the wisdom of the crowd and the power of AI.
2. Team. A truly international team and board of advisors. Technically, the team has more than 20 years of experience in multimedia and mobile security technologies (Data Encryption and DRM, Android Framework). The team currently holds and is applying for multiple international patents related to multimedia and blockchain. Many of us have worked together for over a decade.
3. Partnership. We truly believe in strong partnerships to grow our user base and foster high-quality content. We are working closely with technology companies and mobile OEMs for app distribution and user acquisition and working with A-list content companies to acquire content. Some of the companies include Cheetah Mobile, Lenovo, and Nero, among others.
Q: In the white paper of your project, it is written that the REOS wallet allows users to perform various smart transactions simultaneously on the REOS platform while leveraging the Ethereum blockchain. How do you want to do this? Will there be a possibility of carrying out transactions besides ERC20 transactions?
Leon: Our REOS tokens are initially issued on the Ethereum platform based on ERC 20 standard. REOS is building its own public chain for handling digital content. We use on-chain/off-chain technology to improve efficiency of the transactions as we all know Ethereum currently doesn’t offer the fastest speed.
Q: Is there already at this stage of project development sponsorship from representatives of different countries or interesting investors?
Jay: As we mentioned earlier, we have already partnered with technology companies, content providers and mobile device OEMs in multiple countries for both user acquisition, app distribution and content creation.
Also, since the start of our roadshow in Singapore a month ago, we have garnered a lot of interest from the investors. We are in advanced talks with several key investors. We are specifically interested in strategic investors. For example, we are currently talking to an AI company for both investment and collaboration.
Q: What does the word REOS mean? How did you come up with the name?
Fabi, Marketing Manager: Our inspiration for REOS came from the Latin word CREO — meaning to create and make. Our mission is primarily to empower content creators from all tiers and allow them to fairly monetize their content.
You can also replay the live Q&A here: