C0ban.tv the Japanese video platform has announced that it is adapting its platform to accommodate English-speaking audience. The platform which uses its own digital currency can now be assessed and patronized by a wider audience.
C0ban.tv was built in conjunction with LastRoots corporation which is known for its crypto exchange. The video service is also accessed through LastRoots platform. Described as a combination of blockchain and video advertisement, users are paid to watch videos on it.
Buying lunch with crypto
The platform which already has 50,000 active users publishes short videos on its portals. With 5 million monthly transactions, it is one of the fastest growing blockchain-based viewer platforms.
C0ban is built on the concept of sharing ad revenue with users using a blockchain-based video system in which viewers are paid using c0ban coin (RYO) for watching advertisement videos posted on the firm’s web application.
The concept is similar to what is obtainable in other reward-based systems in which users perform certain activities on the c0ban.tv and gain points which can be converted to the c0ban coin. All they need do is sign up to the platform and view the motion pictures exhibited to get rewarded.
The C0ban team are confident that the platform is the solution to the poor conversion of many video ads which the target audience barely view to the end. The c0ban solution is paying the viewers as an incentive to have them watch the videos.
This eliminates the three main problems that the video ad market faces which are users skipping videos, not viewing them to the end and non cost-effectiveness of ads.
A release by the company said that some merchants are already accepting the c0ban coin in Japan. The release is promoting the platform using the increasing popularity of its token by saying that users can view the videos and earn enough money to buy lunch.
Although the company admitted that the number of stores accepting the coin is small, their next target of expansion is to increase the number of merchants that can accept the coin.
Middle Age Samurai Coin
“c0ban is named after a Middle Ages Samurai coin, named Koban. c0ban is the first challenge for us to spread the technology to the world. We will be pleased if we could provide a trigger to people to feel the revolutionary world of decentralized consensus,” reads the c0ban website.
The c0ban website stated that it is a proof-of-work cryptocurrency which was designed to make it easy for people to get involved with blockchain. It also said that the genesis block was mined on December 15, 2016 adding that of the target 88,000,000 RYO, 26,000,000 have been mined. Some blockchain networks are known to limit the number of mine-able coins to prevent them from being inflationary.
Early Japanese Initial Coin Offerings
C0ban.tv raised $6 million in an initial coin offering in July 2016 as one of the earliest companies to sell tokens in Japan. With its app released in February this year and coin listed on a Japanese exchange, the company is one of the successes of the industry trading 100 million in volume.
The streak of successes continues as C0ban is poised to be listed in Latoken exchange in a couple of days making it possible to trade the coin for Bitcoin and Ethereum.
For a coin launched in December 2016, it has made remarkable progress and the team is not resting on its oars with the recent move at worldwide expansion.