Bitcoin’s unique properties are inspiring new business models. One unique concept is Otika.tv, a startup that has given the world a new video streaming platform that ensures your privacy is intact.
By integrating with bitcoin (and shunning credit cards), Otika.tv allows broadcasters to share content and get rewarded with satoshis (small bits of bitcoin) by viewers. The video streaming outfit aims to provide enhanced security, lowered processing cost, and better privacy, which is lacking with some other mainstream content distributors. Bitcoin.com spoke to John Carvalho, CCO of Otika.tv.
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Otika.tv Video Streaming with Bitcoin
Bitcoin.com (BC): Could you explain what Otika.tv is all about?
John Carvalho (JC): Otika.tv is a new platform for live video-streaming. The website allows broadcasters to set “goals” and receive bitcoin tips from viewers to fill those goals. The website is currently in the beta stage of development, but all of the current features work reliably.
BC: What is so unique about your business model?
JC: Our project allows our users to have a much higher degree of privacy and control of their money due to the integration of bitcoin.
Otika.tv does not store any personal or financial information of our users. We also utilize a cold storage wallet, minimizing the risk involved with storing bitcoins with us. That means that if we were to be hacked, our users would not have to worry about exposing their personal identities or financial info, unlike services like Twitch.tv or YouTube.
Another unique aspect to Otika.tv is that we do not limit the categories of content our users can stream. We will allow anything that is legal and suitable for all ages (Note that we also offer an adult-only version of the website, at Xotika.tv). This differs from services like Twitch, Hitbox, and Beam, which limit broadcasts to game-related content. We encourage broadcasters to stream things like local Bitcoin meetups, conference presentations, cooking shows, and more!
BC: As a company how do you get your revenue?
JC: Our revenue is generated as a percentage of all tips or payments made to broadcasters. We will be introducing a badge and reward system that will allow popular streamers to increase the percentage they receive as they grow in success.
BC: So far how is patronage?
JC: The site is very new; we are always asking for feedback from our users and learning about what changes they would like to see implemented. So far, the users that are comfortable with bitcoin already love the site, but the users that are new to bitcoin and used to Twitch want to see all of the same features they are accustomed to. Their feedback has helped us decide what features to add in 2017 when we will officially go live with a new version of the website.
‘Bitcoin for Independence and Security’
BC: Where do you see Otika.tv in five years?
JC: I expect to see Otika.tv as a major competitor in the video-streaming space. I believe that being bitcoin-only and operating as a lean business is already giving us cost advantages and we are well-positioned for the future. Our competitors will never be able to sever themselves from their fiat connections and credit card processors, and thus they will never have the ability to provide their users with the same level of privacy, nor the same level of control over their money. In less than five years, we’ll have all the features our users could want, as well as innovative new features that allow improved streaming, security, and interaction between broadcasters and viewers.
BC: Why did you choose bitcoin as the form of reward?
JC: We chose bitcoin for the independence and security it provides to our users and us. We don’t need a bank account. We don’t need to pay processing fees. We don’t need to know who you are. We don’t need to know your bank info.
You don’t need to trust us with more than your tip balance. You don’t need to wait to withdraw your tips. You can focus on creating and viewing great content, and we can focus on building great features and communities!
Thank you, John, for telling us about the Otika.tv platform.
What do you think about Otika.tv? Let us know in the comments below.
Images via Shutterstock, Otika.tv and Twitter
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