Welcome to the IoV Lodge
Citizens of the Internet, Internet of Value idealists and financial inclusion activists, you are all welcome to the “IoV Lodge”, a whole new blog-post section where fear, uncertainty and doubt are not allowed to enter. I send you a very warm greeting and, please, accommodate yourselves in the homey climate of this humble building.
If you are a member of the XRP community and, thus, are also in deep interest to follow the Internet of Value and the developments therein achieved, probably you are also very familiar with the several calumniation campaigns in course against XRP, Ripple and pretty much every entity and/or initiative that is currently pursuing the Internet of Value in a manner that does not fit the narrative that Proof-of-Work advocates have been commanding for the last couple of years.
Many have raised questions and ideas as to which could be the most efficient methods or strategies in order to discourage the systematic publication of a worrying and desperate number of articles, news and blog-posts that are demonstrably flooded with manipulated, false and incomplete information on XRP-related subjects. Some have suggested to answer with certain advertisement boycott campaigns, while others have considered to simply stop sharing the sources of misinformation.
Personally, I have thought this thoroughly and reached a conclusion that made me prone to think the best possible way to attempt for a reversal of the negative effects caused by the so-called FUD-campaigners, is with the publication of unbiased, objective, informative, educational and entertaining information about the notable on-course progress being made in connection with the Internet of Value.
That is the very reason for which I decided to create the IoV Lodge, a place that will exclusively host detailed and in-depth articles covering the different initiatives spawning around the space. This, with the specific purpose to document and provide accurate information to as much people as possible, which will hopefully help to counter, in certain aspects, the misinformation being propagated by the abovementioned FUD-campaigners.
In this regard, the IoV
Lodge will mainly focus on trying to interview the top-executives and
developers of the most interesting projects and ideas that are leading the way
towards the widespread adoption of the Internet of Value. As a result of this,
the Lodge’s guests will have the opportunity to read, at first hand, the
valuable opinions and insights provided by the most incredible minds that are
currently pioneering the Internet of Value and, thus, be able to get a full
grasp of the advancements occurring in a day-to-day basis, as well as the most
relevant considerations that should be borne in mind.
IoV Stories.- Chapter 1: “Cinnamon adds some spice”.
Cinnamon stays at the IoV Lodge for the first time.
On February 21, 2019, a brand new start-up called Cinnamon jumped out of the stealth-mode to salute the World and communicate its intentions to board the Internet of Value cruise (plenty of tickets left). Therefore, Cinnamon posted the following tweet at the Twitter handle @CinnamonVideo:
Cinnamon therein announced the development of a video-streaming platform that will offer exclusive content for Coil members, not forgetting to express its gratitude towards Interledger, Ripple and Coil itself.
Immediately after Cinnamon’s tweet, Coil proceeded eagerly to retweet it with the inclusion of some interesting words that increased Crypto Twitter’s expectations on Cinnamon’s platform:
Although Coil did not provide significant information as regards to the video-streaming platform and its relation with the streaming payments’ start-up, it actually described Cinnamon as: “…the first major content platform built entirely on Coil.” which did not help but to raise additional questions on the relationship therein.
But the excitement was not over yet. Stefan Thomas, the founder of Coil and co-creator of the Interledger Protocol, did not miss the opportunity to show its optimism on Cinnamon’s introduction to the Coil ecosystem:
The announcement had, in fact, so much relevance for the Internet of Value and, specifically, the XRP ecosystem, that even Ripple’s account posted a very positive tweet on Cinnamon’s announcement:
In an attempt to clarify some of the questions that were surrounding the announcement, Ripple’s tweet described Cinnamon as: “…the first video streaming platform where content creators are paid directly by their viewers”. It was until this very tweet that we got an actual hint regarding the way in which Cinnamon’s visitors are going to be able to interact and transact on a peer-to-peer basis over its content streaming platform.
Interestingly, the payments’ company also included the hashtag “#Xpring”, which made several community members wonder if Cinnamon was another addition to the Ripple’s venture capital arm Xpring.
Notwithstanding the tweets above, a lot of doubts about Cinnamon were unfortunately left unresolved.
Chitchat with Cinnamon
Fortunately, at least for the Internet of Value fans out there, the team behind Cinnamon turned out to be astonishingly nice and open. They agreed, in a matter of seconds, to participate in an interview-like process where I would send some questions specifically aimed to gain a better understanding about their project, and they would respond with first-hand insights.
The questionnaire was integrated with four main sections: a) questions about Cinnamon, b) questions about Cinnamon’s platform, c) questions about Cinnamon’s decision to use Coil and d) Questions about Cinnamon’s opinion on XRP. Thus, hereinafter you will find a brief summary of our chitchat-like dynamic with Cinnamon.
a) Getting to know Cinnamon.
Q1: “Where is Cinnamon based at?”
A1: “Cinnamon is based at the heart of Europe. Our headquarters are located in Prague, Czech Republic.”
Q2: “Is Cinnamon a self-funded start-up? If not, could you share, if possible, the source of the funds you have secured as of today (ie Xpring)?”
A2: “We got to raise Cinnamon’s initial funding from a couple angel investors within XRP Community. Obviously, Xpring is something that has crossed our minds, but we are not there yet.”
Q3: “How many people are currently part of Cinnamon’s team?”
A3: “Cinnamon is a 4 member team as of today. We consider ourselves a very talented team with a lot of enthusiasm to revolutionize the media industry. We are attention-to-detail freaks and are also very excited on learning how large the team is going to grow in one year from today.”
Q4: “Is Cinnamon a for-profit organization?”
A4: “Yes, Cinnamon has detected serious opportunities in the space and has decided to take the chance and try to gain a portion of the content streaming industry’s market share. Nevertheless, we are convinced that unlike YouTube and other similar video-streaming platforms, our revenue model doesn’t have to interfere with the content creator’s profits.”
b) Could you tell us a bit more about Cinnamon’s streaming platform?
Q1: “Is Cinnamon aiming for global launch? If not, could you tell if your platform is going to be restricted to certain countries?”
A1: “It is definitely not an easy job to create a robust and scalable video-streaming platform, especially not when you are playing with fresh technologies. That being said, we are planning to roll out slowly in phases, restricting users, but certainly not countries.”
Q2: “Could you please describe the kind of content that Cinnamon is looking to integrate into the video-streaming platform?”
A2: “We will have very similar content policies to those that media-streaming giants from the likes of YouTube, Vimeo and even Netflix use today. We are very excited about the content that creative people from all the corners of the World will bring to Cinnamon.”
Q3: “Is Cinnamon planning to integrate movies, TV shows and other similar mainstream content akin to what Netflix offers today?”
A3: “Yes! Not only we are planning to offer access to that kind of mainstream content, but we are also planning to explore what could be a key differentiator against platforms like Netflix. Cinnamon has identified that there are a lot of small and medium content creators that are not able to close deals with the industry giants for that very reason, and in some cases are therefore impeded to share their talent with the rest of the World. We will work very hard to make out of Cinnamon a great host for that kind of content creators. At Cinnamon, we have a strong desire to bring full democratization to the way in which the video-sharing industry works today, and we are very excited about the technologies that we are working with. If the technology allows us to empower both content creators and consumers, we can’t find a reasonable justification to avoid that.”
Q4: “Could you provide a general description on how Cinnamon’s users are going to be able to interact with each other?”
A4: “Sure! Just try to imagine a solid mix between YouTube and Instagram.”
Q5: “Are you planning to launch Cinnamon’s platform for mobile devices as well?”
A5: “Of course! Mobile experience is very important for us and, therefore, our platform will be optimized for every kind of device since launch. Mobile and TV apps are our top priorities after successful minimum viable product launch.”
Q6: “Could you share with us an estimated release date or a roadmap?”
A6: “We are currently working very hard to launch Cinnamon’s minimum viable platform. We do not have a specific launch date as of today. However, in case potential visitors want to stay updated in this regard and don’t want to miss our next announcements, they are able to subscribe our mailing list at https://www.cinnamon.video/”
c) What about Coil?
Q1: “Could you elaborate a bit on how you got involved with Coil and what draw your attention to this company?”
A1: “I have always found Stefan Thomas as a very interesting guy with knowledge beyond crypto. Working with him helped me to understand how big steps the we are making for humanity really are. This, of course, through our serious efforts to make real-time micropayments a reality. I also learnt how hard it is to explain the advantages of our technologies to individuals that are not familiar with crypto-related matters. Cinnamon is working hardly to make them [micropayments] more straight-forward.”
Q2: “Could you please elaborate a bit on Coil-Cinnamon relationship?”
A2: “We want to provide our users and visitors with a very familiar and natural experience. They are going to be able to sign in to Cinnamon via Coil, very akin to what they do today with generic login platforms, such as Facebook’s Login. We believe user friendliness is a key approach towards reaching mass adoption inflexion points and Coil’s multi-platform login feature will provide just that.”
Q3: “In order to pay for streaming content over Cinnamon’s platform, is it enough to have an active subscription with Coil?”
A3: “Fortunately, we do not have to worry about that at all. Cinnamon will always co-operate with Coil with one main objective in mind: build a secure and easy-to-use streaming platform that is capable to provide a democratic and profitable alternative for all kinds of content creators for the first time in the history of the Internet. Also, Coil is designed to handle multiple services like ours with one flat subscription, this is, by subscribing with Coil, visitors will be able to access Cinnamon’s content. We think both subscribers and creators will fall in love with this business model.”
Q4: “We understand that Cinnamon has been building its platform on top of Coil’s streaming payments technology. In this regard, could you provide a general description on how payments are going to work in your platform?”
A4: “Coil will pay content creators after every second watched of their videos. This process will happen seamlessly and in real-time on the backend and without any user interaction, which, as detailed hereinabove, we are convinced is really important for critical mass adoption.”
Q5: “Overall, what are your thoughts on streaming payments and what do you expect from this technology in the near future?”
A5: “There are endless possibilities. Internet that streams information in real-time was invented over 30 years ago. Now we are able to stream value!”
d) Finally, could you tell us more about the digital asset that is currently making this possible?
Q1: “How decisive was Coil’s utilization of XRP for the viability of Cinnamon’s model?”
A1: “Pretty much! If you want to stream micro-payments across the World as efficiently as possible while using the Interledger protocol, XRP is absolute winner.”
Q2: “What are your thoughts on the role of digital assets like XRP in the Internet of Value?”
A2: “This question could lead to a very long monolog, but to make it short, I think every member of the XRP Community already has a very clear idea of the role that XRP has within the IoV concept. For me, XRP most important role is acting as a bridge between different kinds of value, a freaking fast, cheap and secure bridge!”
Q3: “Last but not least. What were the main XRP characteristics that made it desirable for Cinnamon to build its platform on top of Coil?”
A3: “For us, it was the speed and the ability to send micro fragments of a cent. Creators will be able to see an increasingly growing number of views and easily profit from their videos in manners they were never able to profit before. We are convinced that this model will encourage the creation of new content and will foster the creativity of content creators. As a bonus, creators will be able to cash-out their earnings immediately, literally whenever they want to do so. Before Cinnamon, content creators had to wait weeks or even months to withdraw their earnings from advertisement-driven platforms, and thus, they could be tremendously benefited by a more flexible cash-flow disposition scheme.”
Thoughts by the Lodge’s fireplace
Thanks to Cinnamon’s amazing engagement with our interview, we got to have a better understanding of the key differentiators and competitive advantages that will be pursued by this new video-streaming start-up.
In order to get a full grasp about the magnitude of the industry that Cinnamon is trying to disrupt with the utilization of technologies such as the XRP Ledger and the Interledger Protocol (which, when coupled with packet streaming protocols such as STREAM are very akin to how the Internet works today) we herein below quote several statistics revealed by Streamroot in his report called “OTT & Broadcast TV – The State of the industry 2019”:
- Traditional pay-TV services lost more than 2.8 million subscribers during the first three quarters of 2018.
- 66% of US households use at least one subscription video on demand service.
- Multichannel Video Programming Distributors services were expected to reach $2.8 billion in revenue in 2018 and $7.7 billion by 2021.
- In Q3 2018, global video streaming experienced a 52% increase in plays and a 63% increase in viewing hours year-on-year. As the trend continues, Cisco estimates it would take a person more than 5 million years to watch the internet video traffic streamed per month in 2021.
- 3,000,000,000,000 minutes of video will cross global IP networks each month in 2021.
- Smart TVs are expected to represent 70% of worldwide television shipments in 2018.
- In Q3 2018, smart TVs saw 145% and 103% growth in plays and in viewing hours respectively. As a result, Smart TVs now represent 56% of global online viewing hours across all devices.
The numbers above, are indeed mind-boggling. A true and outstanding representation of what Internet-driven applications are capable to achieve in terms of critical mass adoption and consumption.
However, while the content-streaming industry is witnessing astronomical growth numbers that are prone to keep increasing in the following years; today, Cinnamon has taught us that it does not matter how new an industry might be or how quick it can evolve, there will always be enough room for disruption and opportunity areas therein.
We also learnt that huge budgets will not always lead companies into the right direction. Until Cinnamon, no single content-streaming company pursued the democratization of content creation and the peer-to-peer financial interaction between content creators and consumers. Personally, I believe that this particular aspect is Cinnamon’s best weapon against its humongous competitors. Walled subscriptions and advertisement driven revenue models are not fit for decentralized data sharing platforms like the Internet; Cinnamon might be just in-time to provide a monetization alternative that actually fits the Internet model.
Favorably, the technology over which Cinnamon is building its outstanding alternative is capable of reaching unimaginable levels of scalability. In this regard, it is noteworthy to say that Coil is able to scale vis-à-vis with the needs of the growing content-streaming industry thanks to the utilization of Interledger Protocol’s payment channels, which are arbitrarily scalable hand-in-hand with network bandwidth capabilities.
In the near-future, it will be mesmerizing to track new use-cases enabled by the abovementioned Internet of Value related technologies, such as Cinnamon content-streaming platform; and watch how those contribute to XRP markets’ liquidity, which at the same time, is really important to facilitate even more use-cases and help the digital asset achieve its ultimate goal: succeed as the most efficient bridge for different kinds of value.
I wish that everyone enjoyed the stay at the IoV Lodge and I hope to see you around soon.
Special thanks to Cinnamon team.
 Internet of Value is a concept commonly used to refer to the implementation of a series of technologies that will enable moving money and value around the internet, as cheaply and seamlessly as information moves today.
 Xpring (pronounced “spring”) is a Ripple initiative that builds infrastructure and helps innovative blockchain projects grow through investments and partnerships, it is strongly focused on projects that build on and utilize XRP and the XRP Ledger. Xpring has invested in other start-ups, including Omni, Dharma Protocol, Raised in Space, XRPL Labs, Coil, Kava Labs and Strata Labs, among others.
 Cord cutting accelerates even worse than first thought, with 1.2 million defections in Q3, Mike Snider, USA Today, Nov 15 2018.
 Virtual MVPD Share of TV Homes Doubles: Nielsen, Jon Lafayette, Dec 12, 2018, Broadcasting+Cable.
 5-Year Virtual Multichannel Revenue Forecast Underscores Segment’s Opportunities, Tony Lenoir Ali Choukeir, 18 Jul, 2018, S&P Global Market Intelligence.
 Conviva’s State of the Streaming TV Industry Q3 2018.
 Cisco VNI.
 Smart TV Share Jumps to 70 Percent of TV Shipments in 2018 From Less Than 50 Percent in 2015, IHS Markit Says, Paul Gagnon, July 17, 2018, IHS Markit.
 Conviva’s State of the Streaming TV Industry Q3 2018.