HANGZHOU, China, Aug. 10, 2018 /PRNewswire/ -- Following its successful debut at the Blockchain Festival Summit in Ho Chi Minh City and awarded the Most Impactful Blockchain Project Award at the 2018 Global Blockchain Technology Development Conference, Insee Network is commonly branded to be a dark horse in the industry with the potential to be the next NEO. By building a decentralized data processing and analysis network and supporting third-party developers in building their own applications, the goal of this rising star seems more clearly at this point, namely, to build the world's largest visual collaboration network.
"Contribution is trading, trading is liquidation, liquidation is equity"
This was the mantra espoused by the Insee Network founder and CEO Bright Yu in Shanghai on July 26, 2018 at the "Blockchain Project Introduction & Investor Happy hour", and it is a core value of the Insee project. Through the blockchain upgrade and clearing system, and taking the film and television industry as its main point of application, the project generates content data from the film and television industry directly in the chain, which is achievable with current blockchain technology. In addition, it addresses many of the problems that afflict the film and television industry by using blockchain technology to change the liquidation and equity delivery methods, and then improve the equity distribution system within the industry.
As an experienced investor in the film and television sector, Bright Yu is aware of the problems in the Chinese film and television industry, such as lack of transparency of funds and unclear investment information, and the technical transformation of the liquidation process through the blockchain. Mr Yu's greatest contribution to the applications world is to make all deals transparent by allowing anyone to contribute to the immediate liquidation of a smart contract.
"Compared to the traditional film and television end, Insee's DAPP optimization lies in decentralization."
Bright Yu spelled out the crucial differences between Insee's DAPP and traditional video-end APPs with this statement during a press conference hosted by Insee Network in Beijing on August 1. To become the largest visual collaboration network, DAPP's ability to support the third-party development and building of applications is crucial.
Bright Yu took iQiyi, one of the China's largest online video platforms, as an example. iQiyi's business model is to provide users with high-quality content that they want to see while capturing the users' data flow and earning profits through advertising distribution. iQiyi's use of background data flow illustrates the lack of transparency inherent in the current system.
In comparison, the DAPP built by Insee is more about deblocking use of blockchain technology. In addition to changing the entire film and television environment, novels, short videos, live broadcasts and games are all areas that Insee wants to optimize. Mr. Yu also announced the progress of the entire project at the conference: in the fourth quarter of 2018 there will be two types of DAPP online, one is based on live broadcasts, the other is based on video content. Insee will also test the network in the first quarter of 2019 and the main network will be unveiled in the second quarter.
Insee is an Al-powered decentralized global visual content collaboration network, creating an accessible, decentralized and transparent ecosystem, where nodes are not only users, but also co-creators and shareholders of visual contents. The contribution of nodes will be recorded and tokenized on the blockchain, thereby, creating an ecosystem of engaging content co-creation and efficient equity settlement for each participant. For more information, visit insee.io.
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