In 2008, AVXIP, a FinTech business conceptualized a proprietary protocol for scalable mass distribution of large data files. AVXIP stands for Audio Video eXchange over Internet Protocol. It is designed for the exchange of audio and video entertainment that is set to revolutionize the distribution of proprietary data over the internet. Being eager to move forward, the company immediately began to develop their business plan and start to flesh out the process.
The initial implementation of AVXIP’s protocol was ambitious and a bit ahead of its time technically as there were challenges from security and centralized data points as well as difficulties with payment options. Only since 2014 with the emergence of blockchain and cryptocurrency technologies were there technological solutions to the challenges faced.
Last year, as AVXIP pursue its vision, the company contracted with Resonant Marketing Group, a Blockchain Consultant Company to develop their proprietary P2P file exchange network. It is said to be a distributed peer-to-peer (P2P) network with elements of blockchain and cryptocurrency, creating a whole new platform in the entertainment industry and changing the way we do file sharing.
Following the contract between AVXIP and Resonant Marketing Group, AVXIP licenses their protocol to AVXChange just this year. The agreement made between the two parties makes AVXChange as the first and sole licensee at the moment and will enjoy an exclusive right to the technology for three years. Details about the said technology are not forthcoming.