Chinese blockchain company BlockCDN is in the process of creating a bank for computing resources that makes it possible to offer crowdsourced bandwidth at competitive prices to content providers. BlockCDN, currently preparing for an ICO starting on November 28, 2016, is in talks with Youku executives — a Chinese online content provider, who may become the first to trial their technology.
Aiming to disrupt the $6 billion CDN industry with its blockchain-based service, the built-in trading platform offers an online marketplace for network ‘demanders’ to input their workloads to be fulfilled by ‘sharers’. The sharers will receive compensation in the form of rewards for their contribution. The platform is open for anyone to join as a sharer by connecting their devices — smartphones, tablets, computers and TV boxes – sharing excess capacities for mutual gains. With the CDN market predicted to reach $23.2 billion by 2021, BlockCDN hopes to provide a way to meet the industry’s increasing bandwidth demand in the near future.