This interview is part of our new Blockchain In Publishing series, where we interview the world's leading thought leaders on the front lines of the intersections between blockchain and publishing.
In this interview we speak with Wilson Wei, Co-founder of Lino Network, to understand how his company is using blockchain to transform the publishing business, and what the future of the industry holds.
1. What’s the story behind Lino? Why and how did you begin?
WW: I established and co-founded Lino in July 2017 along with Yihe Li, Ziyue Wu and Qifeng Chen. We started Lino once we realized the monetization challenges that content creators face on the major platforms, whether they are a result of platform cuts or demonetization concerns. Our approach with Lino is to create what we call a Value-sharing Content Economy – where content creators, viewers, and all other contributors are fully and transparently incentivized to maximize long-term economic growth in a sustainable way. By the end of 2017, we had received our initial seed investment from ZhenFund and launched our first testing phase of the Lino blockchain.
2. Please describe your use case and how Lino uses blockchain:
WW: Lino's mission is to create a Value-sharing Content Economy where content creators, viewers, and all other contributors are fully and transparently incentivized to maximize long-term economic growth in a sustainable way. Leveraging blockchain technology, Lino aims to revolutionize the content sharing industry with a model based on three fundamental principles:
- No platform cuts by applications on the Lino blockchain from direct payments between viewers and content creators.
- Rewarding incentives for all developers, infrastructure providers, and validators using the Lino blockchain to achieve long-term sustainability.
- Decentralized ownership to distribute network value to all contributors instead of only a small group of shareholders.
Lino uses Practical Byzantine Fault Tolerant (PBFT) based Proof-of-Stake (PoS) consensus algorithm to achieve thousands of transactions per second. These transactions consist of LINO points, our unique currency on the LINO blockchain.
3. Could you share a specific customer/user that benefits from what you offer? What has your service done for them?
WW: Lino provided the framework for DLive, the largest live streaming DApp in the world. As the first app on Lino, DLive features LINO point-based rewards systems that encourage viewer and creator engagement to create the best livestream content and communities. The platform hit a huge milestone recently, with more than 5 million monthly active users on the platform in April.
4. What other blockchain use cases in the publishing industry are you excited about?
WW: We’re excited about use-based payment systems within the blockchain publishing industry. Content creators are always looking to share their videos with new viewers and expand their audience, so being able to additionally reward creators for each follow or shared stream is an exciting proposition for us. We’re already committed to rewarding content creators through a content bonus among other means, but it’s exciting to learn about new methods and engineer new uses for the future.
5. Where will Lino be in five years?
WW: Lino will launch its blockchain mainnet and continue to expand its library of DApps, seeing new use within different industries related to content creators. In addition to growing our team, we plan on developing the Lino blockchain further leveraging new research to continue to learn and experiment. More optimization, more security, more features — it will be an ever ending pursuit. Current areas of research include copyright protection, a decentralized advertisement marketplace, improved infrastructure, and a reputation system.