|Mkt.Cap||$ 0.00000000||Volume 24H||0.00000000 VRD|
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Kirkby's Quest, veredictum, Devon
Further to the launch of the #Veredictum #TokenSale, Global Media Coverage for Veredictum floods in — thanks to everyone in the media for your support. If you wish to interview the team at Veredictum or to know more about the project, please get in touch with our PR agent, Kathryn Price at (kathryn at rubyagency.com.au). 16.8.17 Veredictum.io News Articles — the world’s first anti-piracy and distribution platform. Veredictum want to make the whole mining process as easy as possible for content creators to contribute their surplus computing power and bandwidth in the fight against digital video piracy. Give you an indication of the future platform features, including content certification, registered content search (“piracy detector” in demo), and mining.
We have put the demo site together to give you a better idea of our vision for re-thinking film and video distribution in solving the problem of film piracy. We are delighted to announce the launch of the Veredictum Content Certification Platform Demonstration Site.
Lea isn’t looking to incite this type of behaviour with the Veredictum token sale, wanting to be very clear about how the token integrates with the platform so contributors don’t consider it a “speculative investment”. Despite this, he acknowledges the challenges associated with issuing an asset with liquid value. The frequency and success of recent ICOs have lead to many speculative investors buying up big in order to flip the tokens for a profit once they hit exchanges, leading to situations such as the Brave token sale, where all tokens were bought in just 30 seconds.
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Currently, Veredictum is in discussions with a film studios, with Lea saying that if they come on board with some of the ideas his team is pitching, it will be the startup's conduit to "get into bed with Hollywood". When it comes to piracy, one of the major areas of concern in the industry is a thing called freebooting, which Lea said has become prominent on social media platforms. When designing the platform, Lea was eager to utilise blockchain technology, noting the industry has pockets of problems that blockchain presents the right solution to. Tim Lea, CEO of Veredictum, set out to create a script distribution model utilising a technology that he claims has not been used in the space previously. Veredictum is taking on piracy in the film and television industry, starting with script distribution, and is eyeing off a future of tackling illegal downloads.
One such startup is Australian blockchain company Veredictum, which has used the Ethereum blockchain to develop an anti-piracy and content distribution platform. Founder Tim Lea and his team have been working on the product since 2015, and with a product ready to go, all the company needs now are the funds to run the platform and continue to develop it. In funding the platform, the contributors are rewarded with “tokens”, share-like digital assets which ICO-funded startups use to fuel or facilitate interactions with their platform. In Veredictum’s case, users will be rewarded with “Ventama” tokens for “hunting” for pirated content online.
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“We’re definitely calling ours a token sale as there are many potential regulatory issues with dubbing this sort of thing an ICO, as it implies it’s an IPO but for cryptocurrency, and by the very terming it implies it has an equity component,” he says. In Australia, ICOs are similarly unregulated, but Lea says the Australian Securities and Investments Commission (ASIC) has been “very accommodating” in working with Veredictum. Lea’s token sale is planned to launch on July 24, seeking to raise a core target of $US7.5 million, with stretch goals of up to $US20 million. The raise will include a hidden “soft cap”, to prevent the sale from raising exorbitant amounts. “If you think of the traditional Kickstarter-style crowdfunding campaign, customers will pay for a pre-order of a product, and then in 6-12 months they’ll get the product,” Lea says.
Veredictum wants to create a method for implementing a registered content search engine for the purposes of tracking, where videos move within a targeted subset of the internet. The method relies on an initial, centralised, file indexing service which examines publicly-facing web servers to determine when new video and audio files have been made available. Unfortunately, for many business owners and startup founders, the possibility of conducting an ICO is likely out of the question, as the inherent nature of the process requires a blockchain-ready platform. Unlike other forms of crowdfunding, ICOs are currently unregulated due to the inherent difficulties of monitoring and regulating digital assets. In the US, companies are advised against advertising or offering tokens to US residents as selling securities (to which tokens share many similarities) without the Securities and Exchange Commission’s runs foul of federal law.
What was once thought of as a home for digital currency Bitcoin has now developed into a burgeoning sector providing startups with opportunities for disruption and innovation. #Author of #DownTheRabbitHole #Blockchain #Evangelist #Entrepreneur creating #software platform protecting #film #video #producers from #piracy #freebooting.
With regulation likely in the pipeline, the future of ICOs is unknown, but for now, it’s a popular, and recently wildly successful, form of crowdfunding. “Essentially it’s only for blockchain businesses, or for businesses that could be related to the blockchain space, such as property or finance,” Lea says.
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Those that help support the underlying infrastructure and find pirated content will be rewarded with cryptocurrency, Lea explained, noting that just like with other crytpocurrencies such as bitcoin, the more traction his platform gets, the more the value rises. blockchain (e.g. Ethereum) and distribute the content to its intended destination.
- One such startup is Australian blockchain company Veredictum, which has used the Ethereum blockchain to develop an anti-piracy and content distribution platform.
- Looking at the list of the highest-funded crowdfunding projects of all time, Lea’s description is spot on.
- Lea said a lot of blockchain-based startups are currently funding themselves in a similar way, pointing to Ethereum, which launched its software platform as a crowd funded initiative in late 2014.
- Those that help support the underlying infrastructure and find pirated content will be rewarded with cryptocurrency, Lea explained, noting that just like with other crytpocurrencies such as bitcoin, the more traction his platform gets, the more the value rises.
- Using Veredictum's platform, Lea said the moment someone accesses a script it is registered to the blockchain, which confirms who has looked at the document and when, presenting the writer with some protection in the event their idea gets stolen.
Looking at the list of the highest-funded crowdfunding projects of all time, Lea’s description is spot on. Currently, eight of the top ten projects are Ethereum or blockchain related, pushing out previous reigning champs from Kickstarter fundraisers. The rise of this new form of crowdfunding can be traced alongside the increased adoption and acceptance of the blockchain and its capabilities.
The ICO funding target is 7,500,000 USD, the funding cap is 20,000,000 USD and is expected to end on September 11, 2017 or when the funding cap is reached. These tokens, similar to a stock, are then listed on online cryptocurrency exchanges for trading. Backers who invested in the initial token sale are then able to trade their assets, sometimes at rates significantly higher than the initial purchase amount. Much of this can be credited to the development of the Ethereum blockchain, a new chain similar to Bitcoin in many ways, except with much quicker transaction times and the addition of programmable “smart contracts”. These smart contracts at their base level allow terms of an agreement between buyers and sellers to be written into a code and sent and logged on the blockchain, opening up a world of possibilities for blockchain startups.
Today Veredictum price in US dollars is currently 0.0000 USD, and if converted to Bitcoin is 0. Veredictum prices are currently experiencing a change of 0 %, check all cryptocurrency. Over the past 24 hours 0.000 M US dollars Veredictum has been traded on Crypto Exchanges. Get Veredictum's progress by adding it to your favourites and creating a free portfolio if you wish. As the ICO craze continues, it’s likely we’ll see more and more incredible amounts raised in shorter periods of time than before.
“Literally within a matter of weeks the tokens are available to trade against main currencies like Bitcoin and Ethereum, and the market then determines the value of the token. This means instead of waiting 6-12 months for your return, if people wanted to they could sell their coins straight away,” Lea says.
Using Veredictum's platform, Lea said the moment someone accesses a script it is registered to the blockchain, which confirms who has looked at the document and when, presenting the writer with some protection in the event their idea gets stolen. Sydney startup Veredictum has launched a blockchain-based manuscript protection platform, aiming to shield creatives from having their ideas stolen before they sign on the dotted line. The platform is the next phase of the Australian-based startup's plan to battle piracy, after launching a blockchain-based manuscript protection platform in August that aims to shield creatives from having their ideas stolen before they sign on the dotted line.
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In addition to combating piracy, Lea told ZDNet his platform has the ability to disrupt the venture capital model as it currently exists. But rather than have a community search for the existence of extra-terrestrial life forms, Lea is essentially setting up a decentralised structure that will see people go hunting for pirated content. Veredictum.io is developing a blockchain-based proof of discovery algorithm to thwart pirates taking advantage of film and video creatives.
Now, if you click on the “Piracy Detector” navigation button at the top of the page, you can configure your newly registered piece of content to have it be included in the search network. Once the CERTIFY button is pressed, a transaction (highlighted in Red below) is sent to a smart contract on the Ethereum test network (called Ropsten) with the “details” of that piece of content including the steganographically-embedded ID within the video. Let’s go through the process of registering a new piece of content (a video in this case) to our smart contract on the blockchain.
Anti-piracy blockchain start-up launches token sale
Australian blockchain startup Veredictum.io is currently working on a decentralised, anti-piracy and distribution platform for the film and video industry. Lea said a lot of blockchain-based startups are currently funding themselves in a similar way, pointing to Ethereum, which launched its software platform as a crowd funded initiative in late 2014.