As controversy roils about social media companies' relationship to free speech and censorship, Youtuber and comedian JP Sears and developer Justin Rezvani founded a Bitcoin-based social network that aims to address issues with other platforms. They joined Roundtable at Bitcoin Miami to discuss Zion, the censorship-resistant social network built on the Bitcoin lightning network. In this segment, they discuss Zion's revenue model for creators.
Rezvani explains that Zion allows digital creators to directly monetize their work through frictionless transactions.
"I can move digital money over space and time with no fees. This is a much better resource for creators," he says. "There's no central arbiter that is making these payments and that doesn't exist in any current infrastructure where you need a central broker to move the money. It's not PayPal, it's not Venmo. It's this open source system that payments can move between creators and their fans."
Sears explains that Zion has transformed his ability to generate revenue for his videos instead of relying on platforms and their advertisers.
"In the olden days, for a creator to earn any kinda living you had to be discovered by the network, and very few people had that opportunity," he says. "Youtube is a great step in the right direction, but it's not the end game. While I've made a lot of money on YouTube, but the money doesn't come from my fans to me on YouTube. It goes from advertisers to YouTube to me. YouTube controls my destiny."
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Watch the full discussion below:
JP Sears, Youtube and comedian
Justin Rezvani, Founder, Zion