Digitsy Inc. has announced that it is launching a cloud based service EscrowBytes which is going to enable any person with a cell phone to make money selling videos to news organizations around the world. Now the posters won’t need a credit card or bank account to get paid as they will get paid before buyer gets the video.
The company says that the users just need to upload a video and the rest of the work will be done by EscrowBytes. In the announcement Digitsy says that EscrowBytes responds to the growing need for real-time video news at the same time employing worldwide reach of Bitcoin payment transactions.
In the announcement it has also emerged that the new service reduces the risk of fraud for both buyers and sellers of a digital asset. Nonetheless, as a trusted third party, EscrowBytes stores digital video files uploaded by a seller and releases those files to the buyer only after payment is confirmed; thus, it ensures that the uploader gets the money first.
Talking about the latest launch of the service Alex Solonchev, CEO of Digitsy Inc. said that the key enabler for this business model is Bitcoin, an open digital currency which removes social and economic barriers between sellers and buyers of potentially politically charged videos. He also admitted that increasing maturity of the digital currency technology allows the firm to unlock business prospects in remote markets never previously thought possible.
Monetization of Video Made Possible for Uploaders
A lot of time Uploaders don’t get any money for their digital assets; however, with EscrowBytes this won’t be the situation as they can get the money for the videos. Moreover, as ever increasing popularity of mobile video creates demand for monetization opportunities for people witnessing a newsworthy event, this is the time for creating digital assets.
Social media has disrupted the mainstream media as they see their competitive advantage diminishing. The participatory nature of social media enables the end users has their say in the events and news. Bringing both sides together EscrowBytes service allows news organizations to focus on core value of professional journalism.
Digitsy Inc. claims that it is combining its advanced video processing capabilities with targeted messaging technology and the ability to manage Bitcoin payments. This measure according to the firm makes it a leader in the digital escrow services for global video market.
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