Watchit - What the @# is it?
Tags: watchit, ipfs, blockchain, streaming
Published: 2023-01-19 03:16:56

Welcome to Watchit! 
Welcome to the world of decentralized streaming!

Welcome to the revolutionary decentralized streaming platform that connects filmmakers, investors, and fans. The film industry is constantly evolving, and with the rise of streaming platforms like Netflix and YouTube, it's clear that the future of cinema lies in the digital realm. However, traditional streaming platforms often suffer from privacy and censorship issues, and content creators aren't always fairly compensated for their work.

Decentralized streaming addresses these issues by using a combination of blockchain technologies, IPFS for decentralized storage, smart contracts, and OrbitDB to create a secure, transparent, and cyber-attack-resistant content network.

With blockchain technology, content is distributed among multiple nodes in a decentralized network, eliminating the risk of a single point of failure. Additionally, content creators can receive payments directly from viewers through cryptocurrency, eliminating intermediaries and ensuring fair compensation. Furthermore, decentralized streaming is not subject to censorship. Since there is no central entity controlling the network, content creators can post without fear of censorship.

Watchit also utilizes a token called WVC, which serves as a utility and governance tool within the platform's ecosystem. WVC holders receive platform revenues and have the power to vote on changes to the project's parameters, giving them real control over the future of the content network.

We also offer developer tools such as SDK, API and CLI, allowing developers to create additional applications and services that seamlessly integrate with the platform. Our goal as well is to provide an agnostic architecture that allows developers to work with many different types of media. This allows for the creation of multiple different clients that can provide and consume data to and from the network to build parallel teams and products.

In terms of streaming consumption statistics, according to recent studies, streaming consumption has significantly increased worldwide, with over 70% of households in the United States and Europe using at least one streaming service. This trend is expected to continue to grow in the future, creating a great opportunity for platforms like Watchit that offer a decentralized streaming experience and a collaborative community.

To further support the benefits of Watchit, let's take a look at some concrete evidence and data. A study conducted by the Motion Picture Association of America found that in 2019, streaming made up for 75% of the total home video market, with digital purchases and rentals reaching $7.2 billion and streaming reaching $11.5 billion. Additionally, a study by Deloitte found that in 2020, streaming video services had an average of 42 million subscribers in the US alone, a 29% increase from 2019.

These statistics demonstrate the growing demand and need for a platform like Watchit in the film industry, as it offers a decentralized and fair solution for content creators to monetize their work and for audiences to access and enjoy a wide range of films.

The growing popularity of streaming and the increasing demand for fairer and more transparent compensation for content creators are trends that Watchit is well-positioned to capitalize on. Additionally, as more and more consumers become interested in decentralized technology, Watchit has the potential to attract a dedicated and engaged community of users.

Overall, while there are certainly challenges that Watchit must overcome, there are also many opportunities for the platform to succeed and make a real impact in the film industry. With its unique combination of cutting-edge technology, collaborative community, and transparent governance, Watchit has the potential to revolutionize the way films are created, distributed, and consumed.

Good, now let's answer some questions:

**What is Watchit trying to solve?**

Watchit, as a decentralized streaming platform, could offer several solutions to current issues in the film industry. Some of them could be:

1. Transparency and fairness in content creators compensation: By using blockchain, smart contracts and cryptocurrency, Watchit could ensure that filmmakers receive payments directly from viewers and avoid traditional intermediaries, which would ensure fair and transparent compensation for content creators.

2. Accessibility for small studios and independent filmmakers: Being decentralized, Watchit could welcome enthusiasts and small studios who want a platform with less bureaucracy in the middle to promote or distribute their films.

3. Collaborative community: By using a token-based voting system, Watchit could give users control over the content network and build a collaborative community where filmmakers, investors, and fans can work together to improve and develop the platform.

4. Increased security and resistance to cyber attacks: By using technologies such as IPFS as decentralized storage and OrbitDB, Watchit could provide a more secure and resistant network to cyber attacks.

**How can NFTs help the movie industry?**

NFTs, or non-fungible tokens, can help the movie industry in a number of ways. Here are a few examples:

1. Monetizing content: NFTs allow movie studios and filmmakers to monetize their content in new ways by creating unique, digital collectibles that can be bought and sold. This could include limited-edition movie posters, behind-the-scenes footage, or even virtual experiences.

2. Providing ownership: NFTs can provide movie studios and filmmakers with a way to prove ownership and authenticity of their content, which can be especially useful in the digital age where content is often shared and copied without permission.

3. Building fan engagement: NFTs can be used to create a more immersive and engaging experience for fans by giving them access to unique digital assets related to their favorite movies. This could include virtual meet-and-greets with cast members, virtual tours of movie sets, or even virtual reality experiences.

4. Providing transparency: NFTs can provide transparency in the secondary market and the provenance of the content, it can help to fight piracy and the distribution of counterfeit items.

5. New revenue streams: NFTs provide a new way for movie studios and filmmakers to generate revenue from their content beyond traditional channels, such as box office and streaming services.

Overall, NFTs have the potential to revolutionize the way the movie industry operates by providing new ways for studios and filmmakers to monetize their content, build fan engagement, and promote transparency.

In conclusion, Watchit is an exciting option for those seeking a more secure, decentralized, and fair streaming experience. With its combination of cutting-edge technologies, collaborative community, and transparent governance, Watchit is well-positioned to revolutionize the film industry and provide a new level of control and transparency for content creators and consumers alike. Stay tuned as this technology continues to evolve and grow!

### More info:

* Crowdfunding has [begun](https://opencollective.com/watchit-app).
* Visit our site [watchit.movie](https://watchit.movie).
* Check out the [roadmap](orgs/ZorrillosDev/projects) to future features.
* Get in touch with us in [gitter](https://gitter.im/watchit-app/community) | #watchit:matrix.org.
* See our [FAQ](https://github.com/ZorrillosDev/watchit-desktop/blob/v0.1.0/FAQ.md) for frequently asked questions.
* For help or bugs please [create an issue](https://github.com/ZorrillosDev/watchit-desktop/issues).