SINGAPORE - Media OutReach - 5 September 2019 - The birth of blockchain marks the beginning of humanity building a truly trustworthy Internet. In its nature, blockchain is a distributed database that records all transactions or digital events; it can also be considered as an open, distributed ledger that is accessible to all participants to leave records. Blockchain can establish reliable peer-to-peer connections in the network; value is transferred without interference from intermediaries, enabling public accessibility and secured privacy. Because consensuses are reached with individual rights retained, this mechanism largely enhances value exchange efficiency with lower costs. With blockchain's promising prospects and positive potentials, a revolution in the technology field is looming.
Medium Chain aims to establish a peer-to-peer value transfer public chain by building a infrastructural blockchain architecture and digital resource distribution protocols to support third-party developers to build their own applications upon open source licenses; it is also our aim to build a comprehensive blockchain application ecology with partners from different industries. Application scenarios in various media forms (eg. text, images, music, video, softwares, etc.) can be transplanted according to various rules and protocols created by Medium Chain to establish direct contact between value creators and consumers. Third-party developers not only can issue tokens and build their own economies, but also can create a variety of applications based Medium Chain structure using our MDM Tokens as the internal currency. For example, you can set up an information sharing platform on Medium Chain where information can be evaluated and priced; those who want to access the goods can exchange with the publishers on the platform with the convenience of instant payment arrival. Product promoters can post priced ads on Medium Chain, people who are interested in them can earn income by clicking or sharing. For another example, 3D animation producers can set up sites on Medium Chain to sell their works and earn income from those in need. Different from traditional forms of information transmission which are based on centralized platforms or dominant organizations, Medium Chain has removed the middleman to maximize the profitability of all participating parties by providing real peer-to-peer transactions between media owners and consumers.
To support the construction and operation of the decentralized value network, after considering its key features, Medium Chain platform has seamlessly integrated the underlying layer blockchain services with distributed P2P services. This can provide users with high-quality blockchain-based online value exchange services. Medium Chain's key components include Medium Chain platform and Medium Chain original chain. The platform provides popular services of good user experience, including massive cloud storage space and high QoS (Quality of Service) data Sharing services, convenient website set-up, etc. Meanwhile, Medium Chain original chain has introduced master node networks, which can guarantee a stable network environment and the IPFS storage infrastructure. Furthermore, It secures the healthy and orderly development of Medium Chain's ecology with tools such as voting and budgeting mechanisms; users can also conveniently deploy distributed applications through smart contract technology, which can bring prosperity to the whole ecology.
Medium Chain media contract mainly includes four roles: Advertiser, Self-media owner, Senior auditor and ManagementCommittee.Decentralized complete business processes, virtuous cycle of review mechanisms and highly autonomous governance committee management can effectively avoid cheating by self-media owners and reviewers, enabling the steady operation of MDM media contract, thus it can continuously create value for advertisers and self-media owners.
According to data from China's centralized self-media marketing platforms , the average commission fees each self-media owner receives for marketing tasks is about 500 yuan, roughly equal to 71 dollars. Given the number of self-media users on the platform is expected to reach about 5 million, 355 million (71 times 5 million) dollars is generated each day as advertising income, which makes 129.575 billion US dollars a year. Meeting this figure, MDM will truly become the first blockchain application with an annual revenue of more than 100 billion dollars. Since MDM's circulation is 100 million coins, the value of MDM coins will reach 1295.75 dollars each. Since the initial price of MDM was 0.12 dollars each when it was first issued, MDM's price will increase by 10797 times, making it the next ten-thousandfold cryptocurrency following BTC.
In addition, assuming that each self-media owner can influence on average about 500 fans in each post, the unit price of each advertisement can be as low as 0.14 dollars per viewer. Low advertising cost can attract more advertisers to join the MDM media contract to post tasks. This is a virtuous cycle in which advertisers and self-media owners can both maximize their value. With Singapore Foundation backing it, along with MDM's comprehensive ecology resources and a reasonable consensus mechanism, we believe that MDM media contract will be the first mega application built on blockchains. MDM's sustainable contract operating mechanism will definitely make MDM a real ten-thousandfold cryptocurrency in the future.
Authors: Media Outreach