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Hello and welcome to this blog post about Gifto GTO White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Gifto GTO white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Gifto (GTO).
I can ensue you that, you will be able to understand every bits and pieces related to Gifto (GTO) after going through the Gifto GTO white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Gifto GTO White Paper
Gifto GTO white paper will be going to provide you, all the information that is needed to get started with Gifto (GTO), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Gifto (GTO).
Abstract
“ This paper outlines the case for the implementation of a decentralized virtual gifting protocol to incentivize and monetize content generation by individual content creators worldwide.
The protocol may be deployed on various existing content publishing platforms on internet, such as YouTube, Instagram, and Facebook, among others, and can be used to complement conventional revenue streams which are primarily derived from advertising.
Asia Innovations Group (“AIG”) is a leading mobile entertainment company in Asia. It has demonstrated that virtual gifting system is a highly effective monetization method for content creators on its flagship live video platform, Uplive.
Virtual gifts on Uplive not only drive significant revenue for global content creators, but also enhance interactions and relationships between creators and their fans.
Since its launch in June 2016, the Uplive community has rapidly expanded to 20 million global users, and the platform will generate more than USD $100 million in revenue for 2017. In September alone, over 25 million virtual gifts were purchased and sent on Uplive.
The Universal Gifting Protocol draws from the positive Uplive experience, and seeks to enable content producers across any content platform to receive gifts from their fans. These virtual gifts will exist independently from any platform and retain their properties without any centralized controlling mechanism.
Each virtual gift will be implemented as a smart contract on Ethereum blockchain, enabling the virtual gifts to exist, be owned, and be transacted independently from any particular content platform or system.
This will serve to reduce the dependency of content producers on their publishing platforms to secure revenue for their work, and, by extension, reliance on advertisers.
The proposed currency for transacting in the virtual gifts is Gifto Tokens, which will be deployed as an ERC20-standard token on the Ethereum blockchain. Gifto Tokens will also be used to incentivize and motivate an ecosystem of participants to help create, curate, and redeem virtual gifts.
The Alpha version of Gifto Protocol will be tested by end of 2017, and the Beta version is targeted for testing in Q1 2018, with full commercial launch in Q2 2018. Gifto Protocol will leverage on Uplive’s existing 20 mln user base and 60,000 content creators test, iterate, and jump-start mass adoption, towards the vision of empowering millions of content creators worldwide.”
White Paper Link: Gifto GTO White Paper
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