The creator of Popcorn Time, Federico Abad, is part of a new team launching a video platform built on BitTorrent and blockchain technology, reported TorrentFreak.
The Flixxo system will give users digital tokens called Flixx, which can be used to access content.
Participants will earn Flixx as a reward for their contributions – with users rewarded for creating, watching, or seeding videos over BitTorrent.
Flixx is an ERC20 token based on the Ethereum blockchain, and the team plans to launch a marketplace and decentralised Flixx exchange in 2018.
An initial coin offering for Flixx will be launched in the coming weeks, with 1 billion tokens to be issued, and a maximum of 300 million tokens to be sold.
Flixxo added that there are built-in mechanisms to limit copyrighted content or spam being uploaded to the platform.
“Authors have to time-block tokens in a smart contract – set as a warranty – in order to upload content. This contract will also handle and block their earnings for a certain period of time, so that in the case of a dispute, the unfair-uploader may lose those tokens,” said Flixxo.