VideoCoin introduces a new blockchain with cloud-based video services

  A new network aims to leverage unused computing power for decentralized video encoding, storage and distribution
09 February 2018   669

Co-founder of Live Planet, CNET and Salesforce.com Halsey Minor last month announced the launch of a VideoCoin network. The company is going to provide a low-cost video encoding, storage and content distribution system based in the cloud running on a new blockchain and with a native protocol token VID.

The new blockchain will be designed for fast transactions and combine Proof-of-Stake and Proof-of-Work concepts. Using peer-to-peer encrypted distribution and developing a new open APIs VideoCoin plans to spawn a new generation of video application. And as the first application, a project Live Planet that allows easy capture and distribution of live VR and 360° videos will soon roll out.

Several high profile figures are collaborating with Halsey on the project: Chief Architect of the Intel Video Transcode Service, Devadutta Ghat; two-time Emmy Award winner and Governor of Interactive Media at the Television Academy, Seth Shapiro and SVP of Digital Video Initiatives at Paramount Pictures and Technicolor, Seth Skolnik.

VideoCoin creates a new class of miners who do real work, not just accounting. Blockchain is the breakthrough innovation that lets us create a better infrastructure for the future of online video.

 

Halsey Minor

CEO

ICO will be held in early 2018.

South Korea to Invest $1B in Blockchain Startups

Blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution, local authorities believe
19 February 2019   103

Until 2022, Seoul authorities are investing 1.2 trillion South Korean won ($ 1.07 billion) in fintech startups working with distributed ledger technology. This is reported by CoinDesk.

Funds will be allocated for the development of new technologies through the Seoul Innovation Growth Fund, created last year by local authorities. The foundation will support startups working on various solutions, including those that are in the early stages.

In the first half of this year, the Fund will allocate 13.25 billion won ($ 11.75 million) and 8.4 billion won ($ 7.45 million) in the second half of 2019. For the Korean authorities, the blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution.

The officials also noted that the average investment per start-up at an early stage of development in South Korea is almost seven times lower than, for example, in Silicon Valley.

Last fall, Seoul authorities submitted a five-year development plan for the blockchain industry.