Startup Solana Seeks A $2-$10M Raise; DISH and KIN Jumping To A New Blockchain?

U.S television network provider, DISH, is allegedly looking to leverage the Solana protocol for a 5G tokenization project. This blockchain’s fundamentals have also attracted Kin, a payment platform built by Kik and currently runs on the stellar network.

Both DISH and Kin are set use Solana as the building blockchain network in a bid to maximize its scalability feature. The network boasts of a 50,000 TPS according to tests conducted so far; slightly lower than Visa’s 60,000 TPS.

Solana has since set out to seek more development funds with a recent pitch deck (first found by Coindesk) revealing the target amounts between $2 million and $12 million. However, this is yet to be clarified as some other sources point to a strategic $10 million round which will raise the company’s valuation to $125 million.

While DISH creates tokenized on-chain hiring spaces, Kin is running a platform that handles over $1 billion transactions a day. The two entities could benefit greatly from a scalable blockchain network; Kin which was to run on Ethereum ended up on Stellar as a result of this inefficiency. Given the recent developments with Solana, Kin might now move its operations from stellar. The company’s technical advisor, Tanner Philp, noted that they are considering Solana’s protocol to enhance more development;

“Solana is one option we thought could be interesting for Kin so we have been doing some initial evaluations, but right now we have nothing to announce.”

Solana’s pitch deck however claims that Kik will join its network as soon as March, 2020. Despite this success, Solana is currently at legal cross paths with the SEC. The company’s ICO back in 2017 amounted to $100 million worth of Kin tokens and would later raise $20 million in a 2019 Series A funding.

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Author: Edwin Munyui

Dish Network Patents ‘Anti-Piracy Management System’ Using Blockchain Technology

Dish Network has just published on Thursday a patent for its new blockchain-based anti-piracy system that enables owners to see how their content is getting used.

Dish claims the system can oversee and implement ownership rights more efficiently by putting platforms on alert mode when their content is being used without approval. It seems the biggest problem of online streaming is piracy and the distribution platforms are too many to be monitored in an effective manner. While it’s easy to take down unauthorized content after identification, this usually happens after millions of views.

The System Was Initially Filed in 2018

Initially filed in July 2018, Dish Network’s new anti-piracy system uses blockchain technology for embedding ownership data that can only be updated and uploaded by owners. It intends to provide distribution platforms a reference point that’s incorruptible and to make sure the data is authorized. More than this, it helps with the enforcing of ownership rights, taking action against administrators who put up content without permission.

Not Yet Known If the System Will Use Its Own Blockchain

There’s not yet known if the Dish Network’s anti-piracy system will work on an already existing platform or use its own blockchain. Users will be able to pay owners in crypto or fiat currencies for their identity tokens, which will give them the green light to use content. These identity tokens are customizable and permit access for a specified amount time. They also give the authorization for content on some platforms to be edited. When someone unauthorized uses the content, the owner gets notified.

Dish is One of the Biggest Television Providers in the US

Having over 9.5 million patrons in the US, Dish is among the most important satellite television providers in the country. It has grappled to keep its subscribers just as much as other companies in its category did, as more and more people prefer online streaming nowadays.

Back in 2018, when over 1 million subscribers cancelled with them, they said online operators are using their content illegally and filed 2 lawsuits against 2 different platforms. Other important companies that have recognized how efficient blockchain technology is when it comes to copyright enforcement are Baidu and the Korean giant CJ.

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Author: Oana Ularu