What if you could stream music by the second? And only pay for what you listen to?
What if you were paid your salary every second, as opposed to once a month?
This is a nascent technological advancement, and because Privi was one of the first to solve it with actual use cases, we think we get to coin the term.
We call it, asset streaming.
Asset streaming is the ability to stream money on a second-by-second basis to someone, as opposed to paying weekly, or monthly.
For example, what if you paid Netflix every second — vs monthly — while simultaneously streaming their content 🤯. Allowing you to stop streaming anytime the content no longer interests you.
Why hasn’t this been done before?
The problem is not just a technical one. Mainly, with existing blockchain systems, it economically doesn’t make sense. Generally, each transaction would need to be updated on the blockchain which costs money and resources, so you basically eat up the returns.
Privi has altered this dynamic — welcome to the future. Welcome to asset streaming.
Asset streaming for Audio 🎧 or Video🎥
Imagine, streaming money by the second while audio is playing. This could be music, podcasts, or audio drop-ins like Clubhouse. The same could be said for video. The creator receives money by the second, and the listener only pays for what he/she listens to or watches.
Asset streaming interest payments 🏦
In this scenario, you could ask for a loan, and return back money every second. You could give a loan, and receive interest every second as opposed to the end of the month.
Asset streaming your salary 👔
You could have your salary come to you every second then just the end of the month.
Asset streaming your rent 🏠
You could receive rent payments every second, as opposed to the end of the month.
You see, once you get the idea of what is possible with asset streaming, anything paid in a weekly or monthly manner looks obtuse, and thus, outdated.
This is instant gratification for anyone, selling anything, in a completely decentralized environment.
Now, how does this work within Privi?
Imagine, you are an admin of a Privi Community. Your community votes on a feature that it wants to be built, and you commission a freelance developer to build you and your community that feature.
Normally, you and your community pay the developer every month. The problem with that is the developer doesn’t know if the community will pay, so they then ask for an advance.
Naturally, the community doesn’t know if the developer will work, so they don’t want to give the developer an advance. With Privi asset streaming, the community can time the transaction and pay the developer every second. The moment the community deems the developer to not be adequate, the community stops the streaming.
Or, the community can carry on if the developer is good, but during this time, the developer gets paid every second.
Suddenly, trust is not really required in making an exchange or a transaction. Now, waiting weeks or months is old school. With Privi, you can now stream money freely and securely on a second-to-second basis.
What you can do today in Privi with asset streaming
- A bridge is built between Privi and Ethereum, so connect your Metamask wallet and transfer coins into Privi
- Stream interest from Privi Communities (Community Tokens) and Privi Pods (NFTs) example below
- Stream interest by staking Privi Coins in the Governance tab
- Stream interest from Privi Credit Pools.
Asset streaming immediately becomes a defining feature of Communities and Pods. To have an audience that you can sell to in a trustless manner, every second, with any imaginable good or item that you can perceive of — is revolutionary. For a creator or a community, this is utopia-esque.
Say you rent out an NFT (Non-fungible token) from someone, and this NFT is required to enter a particular Privi community. After entering, you’re not sure if you want to be a part of this community, so you rent the NFT from someone else. I can choose to rent it out for 6m and 32 seconds to click around the community (since I can now enter it) and decide if I want to be a part of this community or not.
If you decide you want to stick around, you can then buy that NFT, rent it out for a longer period, or stop streaming that NFT.
During this time, the person that rented their NFT to me is getting paid on a second by second basis. In the end, this reduces the barrier of entry into something because what if you don’t have the money to pay for the whole thing, or perhaps if you just don’t want to pay the full amount upfront? 🤯
We’re excited too.
Welcome to the Roaring 20’s.
Welcome to Privi 🚀