ProTip and Payments for online content

Chris Ellis has a great idea for content payment using bitcoin. It is a two sided market connected with Open Source Software and bitcoin.

Unfortunately I will not use ProTip in its present form because it uses bitcoins.  For various reasons I do not want a bitcoin account; but that is another story.

Important ideas in ProTip are:

  1. People and advertisers pay for the content - to the content "thing".  The content distributes the funds received to the parties involved in content delivery. 
  2. Content is in the form of files.
  3. ProTip open source software provides an algorithm to distribute funds collected. Using bitcoin means who pays and who gets paid are anonymous.
  4. The author and all those involved in producing the content get paid. 
  5. The content can pay other parties.  Taxes, hosting of content, open source software, and holders of funds can all get paid.
  6. Amount paid, amongst other things, depends on the number of copies made of the content. 

ProTip uses bitcoins for payment and for knowing how to distribute money collected.  At present ProTip does not collect from advertisers; but it could.

ProTip distribution algorithm is like the ant optimisation algorithm used by Google. 

Instead of using bitcoin ProTip could use accounts identified with Identic.  The funds move between trusted accounts.  These are identified with a blockchain. This fits into the regular financial system. All funds transfers are between anonymous accounts in the existing payments systems.  

This video of a Chris Lewis interview explains more.  For those most interested in content payment start viewing from 24 minutes and 30 seconds.  The first part describes fullnode.  Fullnode deploys bitcoin but if we do not need bitcoin we do not need fullnode.