Asia-Pacific Broadcasting (APB) December 2018 Volume 35, Issue 11 | Page 9

NEWS & VIEWS December 2018 9 Vidfish brings blockchain to entertainment With the rapid development of China’s economy and society, the country’s film and TV industry has become increasingly prosperous and active on the international stage. Vidfish, a content streaming platform, claims to offer the largest Chinese content library outside China, and is aiming to leverage blockchain technology to create a collaborative ecosystem that unites content providers and producers with end-users. APB prompts Amie Hu, co-founder and CEO of Vidfish, on how the company’s VUO Coin blockchain initiative can potentially transform the video entertainment industry. Can you first give us an overview of Vid- fish — who is your target audience, and what can viewers expect from Vidfish? Amie Hu: Vidfish is a video streaming over- the-top (OTT) platform, which has the world’s largest licensed Chinese content library, out- side mainland China. Although Vidfish does not operate in China, the video platform is similar to a Chinese-language Netflix, which operates as a subscription video-on-demand (SVoD) model, and provides 12,000 hours of premium uninterrupted online content — watched anytime, anywhere on the Vidfish app. Our target audiences include viewers of Chinese-language video content outside of China. South-east Asia is currently our largest market, but we are aiming to attract a global audience across the world. Anyone who is yearning to watch Chinese-language content outside China is our target viewer. With more than 50 million viewers of Chinese content outside China, we aim to have a user base of one million by 2019. Our content library is diverse, and provides high-quality licensed Chinese content in HD with smooth video streaming capabilities and an advertising- free experience. The Vidfish app is available in more than 190 countries, and can be downloaded via iOS and Android. We have partnered with top content providers in the Chinese film and TV indus- try — Hunan Broadcasting Network Mango TV, Jetsen Huashi, Zhejiang Hua Ce Film & TV, New Classics Media, and more. Currently, the popular shows on our platform are Mr Swimmer, The Evolution of Our Love, and Step Into The Past. We have English subtitles available for about 10 TV series and 10 movies, and we are also adding Bahasa subtitling this November. The media industry is now not only see- ing an explosion of content, but also in- creasing competition between traditional broadcast networks and new players from the Internet streaming space. Hence, what are the strategies you have established for Vidfish in journeying through this competitive media landscape? Hu: We will leverage blockchain technology to create a collaborative ecosystem for our viewers, content providers, celebrities and content partners. Our cryptocurrency, VUO Coin, will be used as a digital asset to support the interactions between all the stakehold- ers including viewers, content providers and celebrities, on the Vidfish platform. VUO Coin will also integrate blockchain- supported reward programmes in the Vidfish platform for users by allowing them to com- ment, share and rate videos, thus encourag- ing collaboration and transparency. With this combination of Vidfish and VUO Coin, everyone — from users, content providers to celebrities — will benefit from our platform’s video streaming model, celebrity engage- ment, and peer-to-peer engagement services. Can you explain the concept behind VUO Coin? What value does this blockchain initiative have to offer to Vidfish, content creators as well as viewers, and how do you see blockchain technology impacting the wider broadcast and media industry? Hu: Traditionally, content partners have always sold their video content rights to content aggregators. There is a long chain of resellers before they receive their cash, which is very little of the total revenue as it trickles down a long cycle of reseller supply chain. VUO Coin provides a simple means to allow content providers to enjoy transpar- ent, real-time, direct payment from viewers through its digital asset, allowing original content providers to earn up to three times more while empowering them to provide better content. With fair compensation for content partners, transparency to both con- tent providers and viewers, an international platform for showcasing content, and mini- mising content piracy, Vidfish, powered by VUO Coin, will change the way video content is provided, watched and monetised. Blockchain technology has the potential to revolutionise the content and entertain- ment industry in several ways — through advertising, content distribution, content ❝ Blockchain technology has the potential to revolutionise the content and entertainment industry in several ways — through advertising, content distribution, content creation, verification and payments. ❞ — Amie Hu, Co-founder and CEO, Vidfish creation, verification and payments. For example, content distribution, content consumption and payments can all be done through blockchain, which will disrupt the current fragmented business model and will ultimately benefit the content creator. It will bring together all the stakeholders of the content and entertainment industry, providing transparency and collaboration for viewers, content providers and producers. Simplify your workflow Broadcast Control Centres News On-Air Studio Radio On-Air Studio Mr Swimmer and The Evolution of Love are some of the popular Chinese content available on Vidfish. Live Broadcast n DECEMBER December 6 - 7 IABM ANNUAL INTERNATIONAL BUSINESS CONFERENCE & AWARDS 2018 Hilton Metropole, Birmingham, UK www.theiabm.org March 12 - 14 CABSAT 2019 Dubai World Trade Centre The UAE www.cabsat.com n APRIL April 3 - 5 VIETNAM INT’L BROADCAST & AV SHOW (VIBA 2019) n MARCH Hanoi International Exhibition Center, Vietnam www.vibashow.com March 4 - 7 April 6 - 11 2019 ABU DIGITAL BROADCASTING SYMPOSIUM 2019 Royale Chulan Kuala Lumpur, Malaysia www.abu.org.my NAB SHOW 2019 Las Vegas Convention Center, Nevada, USA www.nabshow.com n MAY May 22 - 25 KOBA 2019 COEX Exhibition Centre, Seoul, South Korea www.kobashow.com n JUNE IHSE KVM MATRIX SOLUTIONS connect operators to vital broadcast and production equipment without compromise in speed, security and availability. 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