[ON.LIVE ICO] - INNOVATING STREAMING SERVICES
Have you ever thought about live streaming anything? It has recently become popular in many social media platforms. People live stream their daily lives and call them vlogs. They showcase different talents that they have or content that will appeal to their following. Events have also caught up to this. Music events such as Tomorrowland and Ultra Music Festival live stream most of their events and it has helped them increase their popularity.
Streaming is taking the world by storm. Be it live stream or streaming recorded content, there is a huge market for it. The market is largely media consumers of music, videos, movies and series. Streaming services such as Spotify and Netflix are bringing in a lot of money yearly through subscription fees. Part of the reason why streaming services are doing better than cable television is their seamless transmission of their content. There is no ad interruption during viewing of movies on Netflix or for premium Spotify users, music is uninterrupted. Television is filled with a lot of commercial that come at very inappropriate times that cannot be controlled by the viewer. This is also another advantage of streaming, even when ads are there, they can easily be skipped or avoiding by paying for premium subscription.
Currently, mainstream streaming mostly concentrates on entertainment. There is a potential market for streaming with more services being offered. Content that is being streamed can be accessed worldwide. This could potentially mean that services could be offered from different parts of the world that would benefit all people. This is the service OnLive LTD wants to achieve with its new platform On.Live. On.Live is an upcoming streaming service that will distribute a wide variety of content set to meet every niche in the market. The streaming platform hopes to pass valuable information through the various professions it will host in its platform to all parts of the world without any restriction; professionals will be able to carry out consulting activities and other activities that will be valuable to the recipient of these streams in the On.Live platform.
Blockchain technology will be one of the key components of this platform. OnLive LTD chose to base its On.Live platform on the tried and tested Ethereum blockchain. There are some short comings that are associated with the Ethereum blockchain but On.Live LTD is prepared to tackle this challenge. The issue is usually on scalability of the services provided and the services that On.Live LTD wants to provide through its platform will require transmittance to multiple recipients at the same time. On.Live LTD is planning on using relay nodes on its On.Live platform which have the ability to connect to multiple recipients at the same time thus solving the problem of scalability.
On.Live LTD will have an ERC-20 compliant token in its On.Live platform. The ONL tokens will facilitate provision of services in the platform. It will be the only accepted form of payment in On.Live. The ONL tokens have to be purchased. This service will be made possible by On.Live LTD through its complimentary virtual wallet that will be offered in their On.Live platform. This virtual wallet will also double up as their storage area.
The On.Live platform will be like Netflix and YouTube but with a greater scope of content and actual professional services. The platform will register members of different categories in the platform. There are those who will register to consume content that will be created and there are those who will register to create this content. There is also room for those whose sole purpose will be to provide auxiliary services but this can also be done by other members of the platform.
Content creators in the platform can be anyone who believes their content is needed. There are some categories which will require certain qualifications in order for members to create content under them. Categories that are based on professions will only be given access to those members who have met the set qualifications. On.Live platform will have a verification system to confirm the claims that will be made by members pertaining to these categories. They will include professions such as law, engineering and many others.
The content creators, also known as broadcasters in the platform will have an opportunity to gain from their works. Each recorded stream or live stream they do will attract a certain value. This value will be determined by the content they produce and the category they produce it in. The On.Live platform can host more than just professional and advisory videos, it can even host lessons on the platform on cooking, on developing a particular set of skills and even host workshops that involve people from all over the world. The fees will be payable through the ONL token. Consumers of these data are the ones to meet this cost. On.Live platform will want to accommodate all walks of life in its platform and this is demonstrated in their paying options. There are three methods to choose from, there is the Pay Per View payment plan, the subscription plan and the Pay Per Minute plan. For recipients of the content produced, there will be an extra option which can be used for tipping the broadcaster. The payment procedure will be made in a convenient way that will not affect viewing of the broadcast.
The services provided may require follow ups after sometime or there may be a need to give further material to the recipients depending on the scope covered. This will be catered for using a messaging service in the platform. Broadcasters will be able to have packages coupled to their broadcasts that they can use to give offers to their clients. Through this service, they can also create a good rapport with their clients by meaningful communication. The messaging platform will also be useful for broadcasters as they will have a way to communicate details about their future broadcasts or any events that will be forthcoming.
Recipients will be receiving these services at bargain prices. The cost involved in receiving some of these services outside the On.Live platform is really high. On.Live will make these services available to all through its prices. It will be far much cheaper to consult a lawyer in this platform than in the real world. This is because, just as in e-commerce, there is less cost involved in providing this service. Consumers usually end up paying for most of the costs required to deliver a certain service. This is what On.Live eliminates. The prices may even get lower depending on the value of the ONL token. Those who will have bought them earlier will find services on the platform cheaper when their demand increases due to a predicted population increase.
Security and exclusivity will be provided in the On.Live platform. Content providers will get protection for their content. Whatever they create will be treated as their own intellectual property in the platform. Each recipient of the content created will have to pay. The data that will be created by the broadcaster will only be relayed to those who have paid to receive the service. The live or recorded stream will be encrypted such that only the selected members of the platform will have access to it.
Transactions made in the platform will be secured using elements of blockchain technology. Smart contracts will be used to ensure that all payments are made according to what the transacting parties agreed upon. The smart contracts will be a prerequisite to every deal. Once an agreement has been reached and a deal has been made in the platform, smart contracts will be signed as a binding factor to that deal.
Deals within the platform will mostly be made between broadcasters and transcoders. Transcoders are part of the team that will be providing services that aid the content reach the recipient in the desired format. Transcoders will ensure that the streaming is done in the right quality. They will change the video formats to those that recipients will have subscribed for. Information on recipient subscription will be obtained from the broadcaster. The terms of the whole deal will be detailed in the smart contract which will be signed by both parties. Payment for transcoding services will be given in advance by the broadcaster. On.Live will have mechanisms to protect both the broadcaster and the transcoder from any type of fraud in the platform and to prevent either party from carrying out fraud in the platform. If the video being streamed is not relayed in the format agreed upon, complaints can be filed by users and appropriate actions will be taken after the terms of the contract and the services offered are reviewed. This review will be in-house, done by a select random group of members from the On.Live platform.
Relay nodes on the On.Live platform will be used to upscale the reach of the stream. More people will be reached through the relay nodes and at cheaper prices compared to videos relayed from transcoders. This is largely due to the number of people that relay nodes can reach. They can use their advantage to lower prices and still give the broadcaster the expected amount per recipient.
The On.Live platform will include three marketplaces. These marketplaces will be completely decentralized. Each marketplace will have different decentralized services that will be offered to interested parties. Transcoders will be found in the transcoding marketplace where they will all have their services displayed. Those in need of transcoding services can decide on the best offer from this market place. Transcoders may also have a say in the deal depending on the content that needs to be broadcasted. If it violates any laws in a country it is to be broadcasted then the transcoder has the right to deny their transcoding services.
There will also be a streaming market place in the platform. The streaming marketplace will house two other market places. The live broadcast marketplace will concentrate on one broadcaster reaching a larger crowd. Users will have the opportunity to broadcast to a wider audience. The Live Service Market place will be focused on personalized services. This is where professional advice will be given. It will take a more personal approach.
Apart from the previously mentioned services that On.Live will provide, other extra services will include ‘My Calendar’ which On.Live hopes that its users will use to plan all their sessions in the platform well to get maximum benefits from On.Live. There will be an escrow option available for parties that do not entirely trust each other. The escrow option will be used to eliminate any risk that may arise from making payments or delivering services without the assurance of delivery of content or payment. A rating system will also support this. Those with the right ratings will most likely get more deals compared to those with low ratings.
On.Live will also host an award structure through which it hopes to encourage its content creators and consumers to do their due diligence in the platform. There will be different award categories in the On.Live platform with each winner being awarded ONL tokens.
OnLive LTD has a great vision for streaming services. Its platform, On.Live, will eliminate the hurdles that are usually present whenever services are sought beyond borders. Quality services will be offered at really good prices in the On.Live platform. Furthermore, it will also create an alternative source of income for the service providers using the platform. OnLive LTD is backed up by a qualified and passionate team that will ensure the On.Live platform is executed in the best way possible for its users. For the team to do this, they will require resources. On.Live LTD conducted a pre ICO token sale of its ONL tokens which helped them raise funds and the company is currently having a crowdsale for their tokens that will supplement what they had initially raised. All proceeds will be used to develop the On.Live platform. Browse through their whitepaper for more information https://on.live/documents/OnLive_Whitepaper.pdf.
The token sale is ongoing and for ways to get involved please follow the links provided below.
Website- http://on.live/
Twitter- https://twitter.com/on_live
Facebook- https://www.facebook.com/OnLive.TV/
Reddit- https://www.reddit.com/r/OnLiveTv/
Medium- https://medium.com/@On.Live
Telegram- https://t.me/onlive
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