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.
ICO will be held in early 2018.