Refine Medium is a decentralized social video platform designed by a group of Indian experts in the field of online media and blockchain development, who are poised to correct the unfair treatment of content creators and users by the contemporary entertainment and media industry. The project is registered in the Hong Kong jurisdiction for regulatory purposes.
The developers have exploited the advantages of the Ethereum blockchain and its trademark smart contracts to produce an online medium for delivering the authentic and relevant video content to the viewers whilst providing means for the creators of such content to be rewarded in full for their creative work. The token economy of this project is based on the use of the XRM utility token which will become purchasable once the upcoming pre-ICO commences.
The primary function of the platform, which was nicknamed by the developers as the “People’s Own Media”, is to provide means for the unhampered peer-to-peer delivery of high-quality video content, the authenticity of which is validated in a prompt manner and stored securely on the blockchain.
It also entails the establishment of different levels of privacy which ranges from public to fully anonymous to ensure the integrity of identity data for all members of the network.
Speaking of members, they are nominally divided into four groups: content creators, consumers (or viewers), moderators, and innovators.
Refine Medium also has a comprehensive ranking system based on numerous factors, among which are the number of views and re-watches, downloads, shares, the proportion of likes and dislikes, etc. Higher rank ultimately translates to higher remuneration paid in XRM to the in-built digital wallet. The accumulated funds can be either transferred to external exchanges or used to participate in such offers as Data Boost or Space Boost.
The third group, moderators, are of paramount importance for the proper functioning of Refine Medium because their line of responsibility includes casting votes on each item of video content that is being uploaded on the platform by creators.
In order for a video to remain accessible, it must gather no less than 30% of votes, which is called the voting threshold. A prime difference between Refine Medium and other video-sharing outlets is that the voting is organized in a fair and fully transparent fashion which stipulate the provision of a well-substantiated explanation of the reasons behind any decision, especially in case of the rejection of video content.
The moderators are also responsible for conducting the copyright management and controlling the videos that is being shared through the Refme feature, a referral tool for bringing the most valuable content to the top of the search query. They are also allowed to act as intermediaries between the talented members called innovators, who have brilliant ideas but can’t realize them due to the lack of knowledge or skills, and the tech-savvy content creators who implement these ideas into practice.
The total supply of XRM amounts to 300 million tokens, more than half of which is going to be distributed among investors during ICO which will be carried out in three stages. The first phase (private sale) is now live and will end on June 15, followed by the pre-sale which will last for 10 days.
The main ICO will be organized in the period of July 25 - September 30. The pre-ICO price of 1 XRM will be 0.0008 ETH with 2 ETH entry threshold. The minimum purchase during the private sale is quite high - 10 ETH. Refine Medium imposed restrictions concerning the participation of citizens of the United States, Iran, Iraq, Tunisia, and several other countries, in this token sale.
| Pre-Ico Start date | June 25, 2019 |
|---|---|
| Pre-Ico End date | July 15, 2019 |
| Industry | Media |
| Platform | Ethereum |
| Founded | 2019 |
| Website | https://www.refinemedium.com/ |
| Whitepaper | Yes |
| Countries | Hong Kong |
| Start | July 25, 2019 |
|---|---|
| End | September 30, 2019 |
| Expired | |
| Token | XRM |
| Soft cap | $100 000 |
| Hard cap | $500 000 |
| Minimum investment | 1 XRM |
| Tokens for sale | 195000000 |
| Accepting | BTC, ETH, XRP, BCH |
Excuse me, but this business with moderators reviewing the content and deciding which goes to the platform or not is very reminiscent of censorship. I didn't find anything new or groundbreaking in Refine Medium. Just a plain old video streaming platform which creates the illusion of creative freedom, camouflaged with the hot words "blockchain" and "token". I wonder if anyone would come up with a platform that's free of any restriction with regards to the content. That's certainly not the case of Refine Medium.
Social media platforms have obviously entered the era of "blockchain-loving", thus we see the startups like Refine Medium pop up ever so often. I can assure you that the influencers, and the armies of their followers, are eagerly migrating from the traditional platforms to these alternative ones, mainly because it like a totalitarian regime right now on YouTube. People get banned, demonetized, and demoted left and right. So I wouldn't be surprised if Refine Medium manages to gather a substantial audience. They just need to get an endorsement from some big-time YT influencer and the users will start pouring in.
Given how badly YouTube treats the vbloggers now, it is no wonder that soon it will lose a significant bulk of its user base to the likes of Refine Medium. Speaking of this project, I think that the overall idea that they are trying to market is fine, but these guys are making a dire mistake by giving so much power in the hands of moderators. Viewers need the freedom to decide what content they want to consume. Personally, I don’t need some moderator to decide whether I need to see some video, even if it super weird, or not. This will become the point of failure for Refine Medium.
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