Consumption of content has never been higher; YouTube has recorded over one billion views for a song from my childhood, “November Rain” by Guns and Roses. Today modern pop culture videos can reach those numbers in a matter of weeks.
Remember Kim Kardashian? Her bottom almost broke the internet. OK, this is exaggerated, her photo caused more traffic to land on the Instagram servers than they could handle. This is both a sign of the times and the number of hours millennials spend online looking for cat videos.
The common complaint throughout this content consuming period of humanity is simple: how do I monetize it? Sites like YouTube have tried, using advertising but sadly due to overheads and older technology, they are struggling to keep content providers happy. This led me to consider using block-chain technology for the task. Could we at TaTaTu.com solve this challenge? I think the answer is “yes” and here is the simple overview of how it is done.
I developed a “proof of ownership” (now patent pending) to allow users and content providers to share in the revenues paid by advertisers wanting to be associated with a particular piece of content. The system will allow the content provider to check the number of times their content has been viewed and the amount of revenue it has generated in TTU. Users receive real-time updates on earnings, and these will be reported back to our accounting team weekly to ensure we have enough TTU in cold storage to pay our users and content providers. What happens if we run out of TTU? That’s a great question. Our systems realize this and using an exchange API, they buy TTU and transfer them to the wallet for payouts.
Once a user or content provider reaches the threshold for payment, their tokens are automatically transferred from cold storage and queued in our airdrop contract for distribution. The transaction shows on your account, and you begin earning TTU again.