Slate’s ‘Binge’ Blockchain Streaming Platform vs. Netflix
Slate Entertainment Group’s (SEG) disruptive blockchain streaming platform “Binge” will have major advantages over current streaming video providers like Netflix, Amazon Prime, and Hulu.
Because its peer-to-peer content delivery network is decentralized, Binge is not burdened by the substantial costs of a centralized system of hosting data, savings which can be passed on to consumers. While Netflix has a financial incentive to interrupt the viewing experience by asking “Are you still watching?”, Binge – as its name implies – has no such motivation and encourages viewers to watch as much or little content as they desire.
Global Entertainment Access
Because it is built on the blockchain, Binge offers unrestricted global entertainment access. This means that Binge Originals are available everywhere, all the time, for one low price. If a viewer starts watching a film, series or documentary in one part of the world, they can be sure the same title will be available wherever their journey takes them. With Netflix, which uses restrictive and unpredictable geoblocking, this is only possible by dubiously purchasing multiple VPNs, and even then consumers may not be privy to all content.
Treating and Compensating Content Creators Fairly
Binge’s blockchain technology is completely transparent, meaning content creators will have access to valuable behavioral analytics that reveal what consumers like and why. This includes who watched, where, and for how long. It also ensures that content creators will equitably share in the economic waterfall that flows from subscription fees while enjoying real-time payment terms. The questionable accounting practices that have historically plagued the industry will finally be eliminated.
This is in contrast to Netflix, which offers no back-end payments, has onerous payment terms that can take up to 4 years, and is notorious in the entertainment industry for hoarding their analytical data. This built-in accountability ensures that Binge will have access to the best content because creators know they will be compensated fairly for the value they generate.
Binge is currently in negotiations with theatre chains across the world to feature select Binge Originals on the big screen. Although Binge is a streaming platform, it is fully committed to the theatrical experience. Audiences can enjoy the collective thrill that comes from watching films together, while theatres can continue to thrive and play their historically crucial role in supporting the film industry. Netflix, on the other hand, has all but eliminated theatrical screenings, a monopolistic approach that limits consumer choice and entertainment opportunities.
Contribute to the Binge Network and be Rewarded…
Slate Masternodes earn SLX rewards for video storage and streaming delivery: Slate holders can earn SLX by hosting masternodes for network security, storage, and bandwidth. The process is simple:
- First, acquire 350,000 SLX tokens (refundable collateral required to operate a masternode).
- Second, download the Slate wallet and activate an SLX masternode. Slate holders can run their own virtual private server, which requires moderate technical capacity; or alternatively, hire a third party to manage the technical parts, which requires minimal technical knowledge. The masternode connects to all other nodes, storing high-demand video and facilitating streaming as needed. Users can let their computers do the work and enjoy the residual income, even while they sleep.
Slate’s mainnet will be launched on July 5, 2018. The Slate wallet will be available for download on July 5, 2018, in advance of the token distribution on July 20, 2018. Masternodes and staking wallets will begin to receive block rewards on or about August 1, 2018.
SLX has the potential to be a widely adopted currency with an incredibly practical use in the entertainment space. The Slate ecosystem is being established on solid fundamentals designed to build a decentralized, sustainable market. SEG intends to deliver on their stated goal of disrupting the entertainment industry as we know it today. Although some industry leaders may be fearful of change, most will come to the realization that the old way of doing business is obsolete – and that there’s a better way to create, consume and access entertainment.
Welcome to the future of entertainment.
For best pricing, the SLX token sale starts at 17:00 GMT Wednesday, June 27. SLX token distribution takes place on July 20. For more information, please visit slate.io.
Images courtesy of Slate