Privacy has become of serious concern for people enjoying the perks of the internet. According to the recent report published by Bloomberg, Facebook is to face privacy lawsuit over its photo- scanning technology.
It has jeopardised the privacy of millions of users by collecting and storing biometric data without the permission of the users. Google is fighting similar claims in the Federal Court of Chicago. Certainly, the right of the individual to maintain his/her privacy vanishes into thin air because of the centralised structure of these large internet giants.
BuzzShow is a video sharing social network born out as a product of buzzshow. The company launched its ICO in 2018. Many businesses along with government institutions are embracing Blockchains owing to its benefits of decentralization and user anonymity. It negates the need for centralized firms that hold most power and control over users, products, suppliers as well as consumers.
With BuzzShow, video content creators get the platform which they can manage without the abuse of power. Pseudonyms can be generated by users who want to keep their identity private. The platform does not store metadata on centralised structures which is often used by third party organisations to track information about the users.
As this function is not present on BuzzShow, members get an additional layer of privacy as well as power to control their accounts. Also, Blockchains do not necessitate the disclosure of information such as phone numbers and emails when creating an account. This gives a higher degree of privacy to its users.
Along with addressing user privacy in its architecture, BuzzShow also deals with the issue of little profitability for creators and viewers of Videos. The platform rewards its users with its native tokens, Goldies, for every activity that takes place in the circuit. Goldies can be bought and sold using BuzzShow’s own utility token known as the “BuzzShow Token” which carries the symbol GLDY.
GLDY is an ERC20 token that is based on the Ethereum Platform. These tokens can easily be converted into Ethereums which is the second most popular cryptocurrency in the world today. Furthermore, these Ethereums can be exchanged for other cryptocurrencies or fiat money in supported exchanges, placing high value in earning Goldies.
The most fascinating fact of BuzzShow business proposition is that earning Goldies is really simple. Goldies are rewarded for every video creation on the channel. The viewer, the creator and the curator as well – all earn Goldies with each view on the video. Creators are also paid in Goldies by advertisers when they want to buy ad space on a particular video. Validators and moderators also get Goldies for their roles in upholding BuzzShow’s policies.
The profitability of every entity involved in the circuit increases along with the profits of developers of platforms. They retain some Goldies with them and gain as the value of Goldies increases in the market. They also get to earn Goldies with any plugins and upgrades introduced to the platform.