As the growing trend of decentralized organizations and platforms changes the global playing field with the wide-spread adoption of blockchain technology, crypto-solutions have begun being devised for a diverse range of applications to solve various challenges. Now a Slovak team has devised a way to invest via crowdfunding in a digital asset tapping the content distribution sector underpinned by a blockchain-based platform.
At the forefront of companies mapping out and executing such solutions in the digital content distribution realm, is DECENT that is headed up by two Slovak IT developers.
DECENT’s Initial Coin Offering (ICO), which provides an investment route to gaining exposure to the digital token (DCT) commenced on September 11 at 1:00pm GMT. While those seeking to participate do not pay for subscription, they can create an account and join the ICO afterwards. Participants can use Bitcoin (BTC) or if they prefer other crypto-currencies with an option to use Shapeshift, which was specified in the ICO guide.
Digital Revolution
DECENT was birthed, if one can describe it as such, with an ambition to start a ‘Digital Revolution’ with the goal to change the way we share information and ideas all over the Internet today.
Touted as combining the strengths of blockchain technology to enable ‘censorship-free’ independent publishing, micro-payments for direct exchange of value between content creators and consumers to boot, and a solid voting and reputation system - the DECENT platform claims to be positioning itself at the "forefront of a global movement" towards fully integrated, decentralized digital content distribution.
Blockchain Vision
The start-up, which was founded last year by old-time friends Matej Michalko and Matej Boda from Slovakia, DECENT grew out of a shared vision that Blockchain technology could become a unified system of digital content publishing and sharing all around the globe.
By way of background, Michalko’s interest in online privacy was fuelled first while studying Computer Science at the Swiss Federal Institute of Technology in Lausanne where he completed a project concerning the privacy protection of mobile phone users for the Nokia Research Center. Since then he has become increasingly involved with Bitcoin.
As regards Boda, during his studies at the Technical University in Bratislava he took an internship in BMW Munich as a technical concept creator. Although his background is in applied mechanics, he became involved in blockchain based technologies in 2013.
Fascinated by the decentralized protocols, he has supported the community by helping to organize events such as the Central European Bitcoin Expo Vienna and Bitcoin 2 Business Congress Brussels, advising on mining technologies and discussing future possibilities for blockchain.
The DECENT venture has attracted an impressive team of developers, ambassadors and business advisors. And, the ‘Software Sale’ under Slovak law allows the general public to show their support for the project, investing in the future of the decentralized content distribution revolution.
It is worth noting that the laws in Slovakia are similar to most European states. DECENT itself is registered as a non-profit organization in Slovakia and all funds collected during the ICO are taken as a donation.
The Mission
Wanting to solve current problems within worldwide content distribution by implementing principles of decentralization into the communication flow of today’s society, DECENT aims to become a liaison between various industries by bridging the gap between the emerging blockchain ecosystem.
It seeks to allow for simplified, independent and borderless content distribution, with strong cryptography, which is used to keep data or information confidential and prevents any third parties from reading it, thus ensuring the highest level of trust and security throughout the process.
Cryptography is a method of storing and transmitting data in a certain form that ensures only the intended recipients can read and process it. Simply put, data stays encrypted during the transfer and can be decrypted only by using a key.
For Content Creators
An open-source protocol allowing app builders to create a wide variety of applications with design specifications and functionalities best-suited to their needs, DECENT is said to provide “a foundation” for content creators and enterprises alike to form innovative solutions to their publishing strategies.
With creative freedom for customization, there are a variety of possible use cases and a few of common services that could further be innovated with the DECENT platform.
These use cases include: Blogging and publishing (comparable to Medium); Soundcloud-like music publishing; e-book publishing alternatives to Amazon; software sales; photo sharing (such as sites like Shutterstock); electronic newspaper publishing; cost-effective academic paper publishing; video and audio streaming; indie games development; and, peer-to-peer energy exchange. The latter covering due diligence of power plants and smart meters data management.
Currently, authors publishing their books on Amazon hand over 30%-75% of their profits to the platform. Similarly, a musician independently selling their music on iTunes pays about 30% of sales to Apple. For authors or artists signed to a publisher or label, they also might only receive a small fraction of the total sales from their work.
DECENT, however, offers the promise of an alternative model - by putting profits directly in the accounts of content creators with the elimination of third-parties and middleman fees, while asserting that it greatly simplifies the technical aspects of the process. The venture’s platform prototype was finalized at the start of 2016 with the planned launch scheduled for the first or second quarter of 2017.
Conferences & Media Partnerships
DECENT has been catching public attention following a tour of technology oriented conferences such as the Inside Bitcoin Conference in Chicago and the CoinCongress in San Francisco during their American tour in 2015, as well as the WebSummit in Dublin (2015) and the Helsinki Blockchain Conference 2016 amongst other forums.
Additionally, official media partnerships have been formed with the likes of NewsBTC, CryptoCurrency Magazine, Bitcoin News, Blockchain News, ICO Countdown, and Forklog - as well as with one of the biggest blockchain-oriented online portals, 8btc, to expand DECENT's exposure in the Chinese market.
Platform Benefits
While there are several good reasons (in fact 10 that are listed) to use the platform, the beneficial prospects are said by the founders to be especially promising for citizens of countries such as China, whose governments still suppress free speech and where online behaviour is affected by the economical, political or publishing reasons.
Other partnerships have been formed with Freewallet, whose apps “represent easy to use mobile wallets that allow potential users to familiarize themselves with popular cryptocurrencies, without delving into specific technical features and complex settings,” and Toronto-based fintech firm BitRush, while continuously seeking partners interested in either integrating blockchain technologies into their existing services or developing completely new decentralized applications and platforms.
By implementing the DECENT protocol into existing platforms, partners can provide higher level of Trust & Security through a reliable content distribution system.
While they still keep their desired features, the content flow and payment process will be based on a blockchain-driven content distribution platform, which is purported as ensuring stability, independence of the service and time-stamped data recording.
Multiple applications are planned to be released on top of the protocol, which will build the initial infrastructure and protocol implementation support for app developers will be offered to help grow the DECENT network.
Also in the development plan and roadmap is a detailed description of future releases of the network and timeline of the development process and plans for building hardware solutions, which will be including plug and play smart TVs that will run on the DECENT Network.
Raising Investment
To raise funds for its continual development, DECENT is holding a public crowdfunding sale (software sales) that begins from Sunday, September 11, whereby tokens can be bought via its website.
As a special incentive investors purchasing the tokens will be offered a 50% discount on the price. But be minded this will last just one day. Specifically, the bonus (discount) is valid for the first 10 million DCT (DECENT).
Exchange Partnership
A partnership has also been created with the former Danish crypto exchange CCDEK headed up by CEO and founder Ronny Boesing. CCEDK has recently changed its value proposition and is specialized in what the Dane likes to describe as “bootstrapping start-ups”. And, some of their services will be rolled out before, during and after the software sales of DECENT.
Boesing explained in a telephone interview that CCDEK would “normally be offering the option to buy in early and trade immediately on OpenLedger.” However, in agreement with DECENT's project leaders, there will be no ICO (Initial Coin Offering) pre-launch service offered for this initiative.
Instead CCEDK and OpenLedger will be offering parts of their services included in their so-called ‘Economic Enterprise Engine’ of ICO OpenLedger (ICOO) such as a media package and social platforms networking.Subsequently and once the software sales has ended and the launch announced, the currency itself will be fully integrated and listed on the OpenLedger trading platform as well.
The ICO OpenLedger (ICOO) itself will also be holding stake in the venture through the Danish exchange's role as a marketing partner. Thus all ICOO holders will be indirectly investing in the launch.
Marian Hvizdos, Chairman of the board of directors of the Slovak Innovations and Technologies Fund based in Bratislava that provides venture to entrepreneurs through equity or debt financing, commenting recently said: “When I looked closer into the features of DECENT Network I realized this project has a real potential to become a widely used content distribution system of the future.”
Hvizdos, who has worked as the general director of Vodohospodárska výstavba š.p., the chief executive of EXIMBANKA SR and the economic director of Istrochem, a.s, added: “Its innovative Blockchain-based approach suggests a solution for obstacles people and organizations encounter every day.”
If nothing else we are certainly living in exciting times. And, this is perhaps not an indecent investment proposal that could yield interesting returns going forward. So, why not join the digital revolution.
Note: DECENT provides a FAQ page via its website that addresses how the platform works in relation to authors, publishers and content consumers (readers, listeners and viewers).
