AVXChange is taking part in the second annual Blockchain Innovation Tour (BIT), bringing together Southeast Asian leading local investors, exchanges, media, and local blockchain communities.
The BIT roadshow toured Thailand and the Philippines from April 25th-28th, 2019 and will have an event in Vietnam on May 5th, 2019. This is the first time AVXChange participated in the annual Blockchain Innovation Tour, hosted by Asia Token Fund, with the aim of creating awareness and increasing product knowledge regarding the AVXChange platform as well as networking with business leaders and presenting opportunities to the investment community in Asia.
Last stop for the BIT Series 2 will be in Ho Chi Minh City, Vietnam this coming May 5th, 2019. The COO of AVXChange, Ryan Strasser will be attending together with CTO, Mr. Manansala. They will be doing another presentation of the AVXChange platform with the goal of attracting new investors and introducing the local tech community to our platform.
Most recent event we’ve attended was the BIT Philippines (April 28th, 2019) at Okada Manila, where AVXChange had its first public presentation by our CEO, Robert Enga, and was also attended by CTO, Dave Manansala. Our CEO, Robert Enga was pleased to be presenting in the Philippines where development is primarily done. Local Filipino crypto press also held a media conference where he was able to discuss and promote AVXChange.
First stop was in Bangkok, Thailand (April 25th, 2019) at the Thai CC Tower where AVXChange CTO, Mark Dave Manansala made the first ever public presentation of our project.
Through a dedicated presentation, AVXChange addressed some of the biggest issues and needs that are often neglected within the media and entertainment industry such as:
Lack of single source of media files. Current options for media downloads on the internet are dominated by a handful of players with exclusive content which requires consumers to have several accounts with the various retailers such as Netflix, Amazon, Google, etc. Not to mention that not all of these services are available in every country and the media files are often burdened by limiting Digital Rights Management (DRM) restrictions.
Difficulty in purchasing the files. Often, the methods of payment are cumbersome with some payment methods from certain financial institutions or regions left unable to participate in the traditional marketplace.
Loss of revenue among intellectual property owners. IP owners are losing revenue because of the existence of current uncompensated P2P file sharing applications as well as current compensated options for audio and video downloads on the internet, wherein, the rightful owners of the content don’t get enough compensation while others don’t get any compensation at all for their works.
AVXChange, a custom, incentive-based, Peer to Peer (P2P) file sharing platform designed for the exchange of audio and video media over the internet solves these issues by:
Creating a single platform that will allow the users to purchase any file or content they want through a single interface that will be available in any country, allowing the users to get whatever content they want, whenever they want, wherever they are.
AVXChange solves the second problem by using cryptocurrency as a method of payment. AVXChange has its own cryptocurrency called the AVXChange Token (AVX) and it will be the currency of the commerce on the network which will facilitate quick and seamless cross border, global internet-based transactions. AVXChange uses the principles of blockchain/distributed ledger technologies to eliminate centralized data points, thus increasing security and transparency as all nodes on the network will reach consensus on data and events.
AVXChange offers a solution to the most common, but often neglected issue in the entertainment industry, which is the loss of revenue among intellectual property owners, by incentivizing the file sharing participants or content distributors to compensate IP owners by allowing those sharing the files to profit from their involvement in the distribution network. Imagine a file sharing program with a polished interface and transaction mechanism which allows users to compensate intellectual property (IP) owners and incentivizes users by allowing them to earn for their role in distributing the product to market.
To conclude, the AVXChange team greatly enjoyed being a part of the BIT Tour and we are pleased to have been able to connect and meet with more members of the Asian blockchain community. We are proud that the AVXChange team was successful at creating awareness with a pool of investors and tech enthusiasts about our AVXChange P2P file sharing platform and sharing our vision of bringing the next evolutionary step in the P2P industry.