By
Chimamanda U. Martha
April 24th, 2024
Using a decentralized approach, supported by Bitcoin, K.im created a platform that allows content creators and digital businesses to sell digital goods directly to end-users without the need for intermediaries.
Cryptocurrency exchange Bitfinex’s new token platform Bitfinex Token Sales recently announced its first project, K.IM, the decentralized new P2P digital content, and monetization platform brought to you by Kim Dotcom.
In a press release that the company shared with the Coinspeaker, it is said that K.im was created in order to merge internet with the Bitcoin so there could be a platform that allows artists, content creators and digital businesses to sell their content and digital goods without censorship, outside of monopolies and, what’s most important – without the middleman.
Just for a reminder, Kim Dotcom, the controversial internet entrepreneur and founder of the now-closed file storage platform Megaupload, said a few weeks ago, he is planning a comeback in the digital content business. He said that this time, instead of a platform that allows users to download copyright songs and television series, Dotcom plans to use blockchain technology to create a fair digital content distribution market called K.IM.
The KIM token is built on Bitcoin base enabled by the recent technical developments as are Lightning and Liquid and was created in order to enable users who want to access all the possibilities their product provides via a decentralized P2P platform content and monetization platform. The token sale is scheduled for 12pm UTC on the 6th of November 2019.
Both Bitfinex Token Sales and K.im are focused on completing transparency and the ability to deliver a Publishing Platform that fulfills the demands of creators and the cryptocurrency ecosystem. On Monday, the platform started to offer the exclusive possibility to test it out in a Proof of Concept demo. The PoC demo gives community members the way to use the core double encryption and decryption functionalities of the platform and also gives its users an immediate look into the publishing and payment services backend as well as applicable client-side logic.
So, in short: the PoC demo allows users to discover the practical foundation of the K.im publishing platform and it allows users to test the payment engine and to host their files on an external storage service through one of their API (currently restricted to IPFS – the blockchain built for hosting content).
The main experience will allow users to go through a full transaction process in an irreproachable manner: as a publisher, by uploading and creating a strong encrypted file container and making it available for sales, and as a consumer by paying, downloading and decrypting the unlocked content automatically after their cryptocurrency payment.
The demo will provide entry to the Bitcoin testnet payment module while the lighting payment module will debut later this year.
The goal to bring a K.im Publishing Platform demo to the masses highlights company’s devotion to sharing a real and totally new product that has support of advanced technology. The usefulness of K.im is founded on a full set of services and the network that has millions of users. The company said it is their goal “to offer developers the possibility to create as many useful API as possible and it is our hope, that this demo inspires the community to help us reinvent the new landscape of the digital content distribution system. “
As per the announcement, the demo will be made available on a request-only basis, and interested parties will be given private access through a 50-person a day roll-out strategy.