The blockchain network has two new revolutionary changes in the form of SingularDTV and Cindicator. SingularDTV is for entertainment enthusiasts who would like to invest in content creation. While Cindicator is for financial market experts, who can earn digital coins using their forecast skills. These two projects will diversify blockchain services, moving from banking and contractual services to a wider array of activities.
SingularDTV is a blockchain backed platform for production and distribution of entertainment content. It is built on the Ethereum network and is going to make the entertainment industry more transparent and fair. If we consider it simply, it is like “Netflix” on the blockchain. However, it aims to make the entertainment industry more decentralized and open for community participation. Here, artists and digital content creators can build, manage and monetize their creations on Ethereum solely, without the need of the third party.
SingularDTV works on Centrally Organized Distributed Entity (CODE). CODE is a distributed entity, meaning, it is funded by the crowd but it is centrally managed. It uses tokens called SNGLS and creates a “tokenized ecosystem” where artists can raise investments for their production, and investors can earn profits. Token-holders share the equity and receive the profits that are earned through the platform. Whereas, the planning, decision-making and development of projects on the platform are all centrally managed by the content creator.
This is to ensure two things. Firstly, that the content creators have complete control and independence to create their art and content without the interference of any third party. Secondly, it maximizes their profit by eliminating any third party (such as a production firm, platform, etc.), where profits had to be shared.
SingularDTV provides a singular platform for content creation, display, distribution and production. In this sense, the role or the need to have any third party is eliminated. It has four core divisions – content creation & acquisition, documentary division, rights management platform and TVOD Brand/Portal. These all can be controlled by a single person, which given him complete freedom for his work. The tokens, SNGLS, represent a share in Intellectual Property (IP) film, television and software projects on S-DTV. The creator has complete control over his Intellectual Property rights as well.
Although there are several platforms, such as Youtube and Netflix where content creation has some independence. However, while talking about profits or simply ‘means of earning’, artists often struggle with investing companies. There is monopolistic distribution or interference, and the potential profits are eaten away.
SingularDTV provides a platform to build a consumer-to-creator network. Here, the consumer can directly access creator’s work without having to go through an external application, and the creator can directly get in touch with his consumers. Like most other services on Ethereum network, SingularDTV works via Smart Contracts, where SNGLS are the digital tokens. Firstly, a consumer can freely navigate the catalogue and find what to watch. Then, the consumer can go through usage policies and make payments as indicated on the smart contract of creators. Finally, the user directly receives content and the creator directly gets paid.
Cindicator, on the other hand, aims to improve the decision-making abilities of investors by using ‘collective intelligence’. It was founded in 2015 and currently has 8000 users.
According to the collective intelligence theory and research by psychologists, the collective opinion of a group of individual leads to much more accurate predictions than prediction done by an individual. This platform uses the wisdom of the crowd to make the least risky and most profitable investments.
Cindicator is like consensus recommendation of Wall Street analysts, where they collectively predict about the most profitable shares. Except the fact that cindicator is used for cryptocurrency forecasts and uses hybrid intelligence. Hybrid intelligence uses both collective intelligence (opinion of the group) and Artificial Intelligence (AI) to make even more accurate and reliable predictions. The opinion with the highest weight assigned is considered the best.
The working of cindicator is very user-friendly and simple. It uses MOBA app and asks its users questions about the financial and cryptocurrency market. Users are given compensation for participation, and those who are able to correctly predict the outcomes are rewarded in CDN tokens.
Syndicator creates computer infrastructure that supplements the predictions and then sells the information to asset managers (financial products, trading signals, etc) The goal of this platform is to provide benefit to both investors and analysts.
The app works as follows: (a) When the app opens, there is a question displayed for the users, whose answer is to be predicted by them. (b) The second step shows the correct prediction (which here is the median answer of collective intelligence). It also awards users for participating. (c) The third part shows the rank and prediction accuracy of a user as compared to other users. (d) At the end of every month, the reward for most accurate predictions is given to top 2% participants.
The reward is given in form of CDN tokens, which incentivizes the users to work hard. Also, the more CDN tokens a user has, the more accessible Cindicator becomes to the user. In this manner, the forecasters earn without losing anything. It “an opportunity for analysts to monetize their intellectual assets without risking their own funds.”
The following are the main advantages that the developers of Cidicators mention about their app:
- A technological and analytical infrastructure for the efficient and safe management of investors’ capital by investors themselves or licensed managers.
- Tools and data for making investment decisions under the conditions of market uncertainty.
- Up-to-date analytics of the industry, expectations, opportunities, and market growth points.
- Indices and ratings of crypto-assets.
Therefore, SingularDTV and Cindicator are the two blockchain services that will not only diversify activities that can be carried out on the blockchain but predict that blockchain is going to play a more prominent role in all the future activities.