Many believe that blockchain technology utility goes far beyond the realms of cryptocurrency and payment processing. AXEL is an embodiment of that idea that strives to leverage decentralized, P2P network technology in solving the problems that abound in the digital content ecosystem. AXEL combines blockchain and smart contract protocols to shift the balance of power in the content ecosystem back to the hands of creators.
The Current Landscape of the Global Digital Asset Marketplace
Middlemen essentially possess all the power in the current digital asset space. They decide how the market operates, who gets paid what, etc. Creators – the people whose talent and ingenuity have been used to create useful content, are pushed to the curb. These middlemen hold all the keys and guard all the doors. Every digital gateway is owned by these large corporations, and they rake in billions of dollars at the expense of the actual creative talent.
Buyers and sellers have to depend on these online marketplaces, suffering oppressive fees, intrusive privacy policies, and the inherent insecurity of centralized systems. The most valuable asset in the internet age is data, and these middlemen are the custodians of this data. Many of them maintain extensive databases filled with user information that is sold to the highest bidder, without any recourse to the privacy of the owners of that data.
Centralized systems are vulnerable to cyber incursions in the form of hacks and identity thefts. It is fair to say that the current framework as described above is full of glaring inefficiencies. AXEL proposes a robust solution that caters to all of these problems while providing real value for the actual participants of any transaction – both the buyer and the seller.
The AXEL Solution Framework
Cryptocurrencies like Bitcoin showed that a blockchain could be used to eliminate the need for intermediaries – specifically, banks and clearing houses. Why stop at payment processing? AXEL is building a new content transaction paradigm, one that emphasizes the protection of the ownership rights of content creators.
AXEL’s mission of protecting user content and privacy is the foundation for this purpose built blockchain technology that’s being developed in addition to the company’s existing patented technology. It will become an infrastructure for content, privacy, and transactional Dapps.
In the AXEL marketplace, creators don’t only own their data, but they also control it, without having to mortgage any of that control to third-party mediators. The platform covers all aspects of the digital asset ecosystem including file transfer, payment processing, and online privacy.
AXEL allows users to share and transfer files directly to one another via a P2P network. So, there is no need to upload potentially sensitive data to any central server. The system also incorporates the platform’s legacy payment protocol – AXEL Pay which provides secure transactional layers that allow users to sell their files instantaneously.
The AXEL solution framework delivers the unlimited potential of ecommerce to users at virtually no cost. Users can create a functioning e-store right from their phones, selling their content and receiving the full value realized from the sale.
The AXEL Marketplace
Content monetization is the primary commercial activity of the e-commerce age. AXEL delivers all of this with the added layer of invisible transactions. With the AXEL token and the platform’s blockchain network, buyers and sellers can interact in a secure space that is completely shielded from external compromise.
AXEL already has 3 million downloads across desktop, iOS, and Android, and a 4.4 rating on Google Play. The platform is set to become the focal point of the emerging digital content marketplace that provides value for all stakeholders.
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Images courtesy of AXEL
Source: bitcoinist.com Read more here!