Halsey Minor, Founder/Co-Founder of CNET, Salesforce.com, Uphold, VideoCoin
Today, there is an overabundance of data processing centers with computers and servers lying dormant, completely unused. Halsey Minor, the founder of CNET, Salesforce.com, and the service now known as Google Voice, found a readily available and profitable market to revive these ‘zombie servers’ using blockchain technology and cryptocurrency.
Bitcoin started up with crypto-miners having to go out and purchase special cards to run on their computers, to expand processing power, instead of using what was already in front of them. This cryptomania couldn’t have come at a better time, as the costs of producing and distributing video are anything but cheap. Minor’s company, the VideoCoin Network, has made use of the crypto mining market by finding a way to reduce distribution costs, all whilst increasing levels of innovation, that will benefit content producers, investors, and ultimately, consumers.
The Days of CNET and Salesforce.com
In 1993, Minor helped create a world that combined technology and publishing, better known as CNET. It contained a suite of products both available to the public and hidden behind the scenes. Why? There were no other applications to publish that content. In 1996, CNET expanded with the launch of Download.com, acting as an online hub for software, that was at the time, commonly given away on floppy disks and CDs stuck to the front of magazine pages or available on random sites on the web.
When Minor left CNET in February 2000, 10 million people a day were visiting the site. He gained experience in managing massive amounts of internet traffic, which comes the massive amounts of energy use and costs associated with maintaining the processing power of servicing that traffic.
Minor’s next venture was Salesforce.com, which he had already invested $19.5 million. Minor came in to help expand and build out the company with CEOs, John Dillon and Marc Benioff.
Entering the Crypto-Space
It wasn’t until 2004 that Minor entered the crypto-space with his venture, Uphold. It acted as a competitor to what we now know as Coinbase, a free currency transfer and exchange service. Minor’s vision of creating a cloud-based money system led him to exploit what the industry has been plagued with and still is plagued with as of today—high costs associated with energy processing for video production.
Through the VideoCoin Network, Minor has officially joined the blockchain community. Focusing on ingesting video and sending it to video platforms like Samsung, Facebook, YouTube, and various other VR/360 platforms, Minor’s vision of pushing content to the cloud became more necessary.
Video comprises of 82% of the Internet
Thanks to Intel, Facebook entered the video market with Facebook Live, but the costs of doing so where exorbitant. “I asked someone on board with our vision, who builds a heavy duty streaming cloud like Amazon Web Services (“AWS”) or Google, and we realized the cost to run content on those platforms 24/7, was at least $28K, for just one month,” said Minor.
Creating a ‘Sharing Economy’ Around Global Computing Commodity
Today, there has been a rapid escalation in the adoption of video content and the size of producing that content—e.g. HD, 4K, 8K, and VR. “Video has hit an insane inflection point,” said Minor. “It’s no longer called video, but rather, ‘reality.’”
Reducing Costs for Video Distribution
With the release of HD, 4K, and VR, media companies and broadcasters have been plagued with extraordinarily high costs. Companies are watching their consumer viewership from costless broadcasts, to costing over the top internet services.
Like Uber and Airbnb, Minor’s vision for the VideoCoin Network in creating a ‘sharing economy’ around the commodity of global computing, became apparent, and necessary. “There are so many data centers and machines that go unused,” explained Minor. “We can profit off that while helping the broadcast industry become more cost-effective and efficient.”
Increasing The Level Of Innovation
As a consumer, we don’t see what happens on the back-end of video applications. For example, we have the NBC app to watch our favorite content, but we don’t see or understand what it takes to produce that video and push it to us.
Studios that distribute video are using AWS, and Amazon is VideoCoin’s direct competitor. These large companies are limited by their margin, and that margin is Minor’s opportunity.
“Providing for a reduction in costs through the utilization of unused resources around the globe, allows for the launch of a new phase of application development,” said Minor. “Right now, there aren’t many new applications, just YouTube and Facebook. Video has become completely dominated by new players on the back-end and the front-end.”
“Encoding video content 24/7 is what makes video expensive, especially when you’re dealing with 4K quality,” explained Minor. “For example, the HD signal you as a consumer receive at home may be about 5mbps, but prior to its encoding, it was 40mbps.”
With Crypto-Mining, Energy Is Everything
“The most important thing is that Bitcoin miners make or lose money based on the price of energy,” said Minor. The industry model, beginning with Bitcoin mining, connects computers to the internet, which allows it to run software, providing miners to get paid in cryptocurrency. That’s already been proven a thousand times over with Bitcoin mining. In turn, they take the cryptocurrency they just earned and buy more hardware with it, to expand mining capabilities.
With the VideoCoin Network, the model is entirely different. It recognizes that Bitcoin has already established a costly and time-consuming process for achieving what we call “efficiency,” and builds upon that. “If the network of computers we are using are all competing based on the price of local energy, that’s not in Amazon’s best interests, because they don’t have that power, and they make a lot of money that nobody else makes,” said Minor.
We have already seen the effects that mining can have on local energy and communities, where cities like Plattsburgh, have put a temporary ban on cryptomining, until more effective means of mining and processing can be determined, without impairing the communities utilities.
“People are locating next to hydroelectric dams, and there will be disruptions,” said Minor. But, all disruptions point to a network of users that are competing solely on the price of power. Currently, platforms like Amazon or Google haven’t established data centers that are able to compete on the price of power.
Like in Plattsburgh, we have seen large consumers of electricity, scattered around and historically, people have built data centers near points of internet access, which is now prioritized around the cost of power. While disruptive to communities, the general nature of computing requires a low-cost power to make money, shifting into an area of hyper-efficiency. That is VideoCoin’s end game.
Overcoming the Cultural and Technical Hurdles
Challenges Facing The Internet Video Infrastructure
“We have a ready market that we know is profitable, and is growing at 25% a year, where video is 80% of the Internet” –Halsey Minor, CEO of VideoCoin
Media companies are weaning themselves off AWS because of the exploding costs. “The issue is that there is no other direction to go when it comes to monetizing that content,” emphasized Minor. “Amazon and Google, by their very structure, can’t do this – but, we can.”
The difficulty lies in actually building networks capable of handling the volume and size of content pushed out. “Nobody has built them before,” said Minor. “We are pioneers in trying to create a new computing model.”
The major issue back in his days with Dillon and Benioff was data security. No company wanted to entrust their data to the cloud. Salesforce had to overcome a cultural hurdle that allowed the industry to move forward.
Unlike SalesForce, VideoCoin is facing a technical hurdle. “We are taking this technology and actually delivering on its promise in an area that just hasn’t been done yet,” said Minor.
Execution
Right now, there are hundreds of white papers, and hundreds of promises. Some kept, a lot broken. Recognizing the difficulty in building out these coins and networks, the ultimate challenge is executing on these promises.
So what makes Minor’s approach different? VideoCoin is setting a high quality standard by making itself available only to sophisticated institutions, avoiding any public sale, and assembling an team with a proven record of success. The only way to ensure people know what they are getting into and understand the potential risks is by selling to those who can handle that work and deliver.
A lot of what the VideoCoin Network does is on the back-end. Similar to AWS, the consumer doesn’t know who NBC or Facebook is using to stream content; they only they’re able to watch content on their app. The difference is that content producers are paying less money in creating more products, by pushing material into the cloud, rather than repackaging it. This allows developers to use their open-source framework to build new kinds of applications.
“The market is there. The demand is there. The need is there. But, there’s a big technical hurdle that needs to be overcome,” said Minor.
">CNET’s Halsey Minor Brings Innovation to Video Distribution By Utilizing Zombie Servers and the Cloud.
Halsey Minor, Founder/Co-Founder of CNET, Salesforce.com, Uphold, VideoCoin
Today, there is an overabundance of data processing centers with computers and servers lying dormant, completely unused. Halsey Minor, the founder of CNET, Salesforce.com, and the service now known as Google Voice, found a readily available and profitable market to revive these ‘zombie servers’ using blockchain technology and cryptocurrency.
Bitcoin started up with crypto-miners having to go out and purchase special cards to run on their computers, to expand processing power, instead of using what was already in front of them. This cryptomania couldn’t have come at a better time, as the costs of producing and distributing video are anything but cheap. Minor’s company, the VideoCoin Network, has made use of the crypto mining market by finding a way to reduce distribution costs, all whilst increasing levels of innovation, that will benefit content producers, investors, and ultimately, consumers.
The Days of CNET and Salesforce.com
In 1993, Minor helped create a world that combined technology and publishing, better known as CNET. It contained a suite of products both available to the public and hidden behind the scenes. Why? There were no other applications to publish that content. In 1996, CNET expanded with the launch of Download.com, acting as an online hub for software, that was at the time, commonly given away on floppy disks and CDs stuck to the front of magazine pages or available on random sites on the web.
When Minor left CNET in February 2000, 10 million people a day were visiting the site. He gained experience in managing massive amounts of internet traffic, which comes the massive amounts of energy use and costs associated with maintaining the processing power of servicing that traffic.
Minor’s next venture was Salesforce.com, which he had already invested $19.5 million. Minor came in to help expand and build out the company with CEOs, John Dillon and Marc Benioff.
Entering the Crypto-Space
It wasn’t until 2004 that Minor entered the crypto-space with his venture, Uphold. It acted as a competitor to what we now know as Coinbase, a free currency transfer and exchange service. Minor’s vision of creating a cloud-based money system led him to exploit what the industry has been plagued with and still is plagued with as of today—high costs associated with energy processing for video production.
Through the VideoCoin Network, Minor has officially joined the blockchain community. Focusing on ingesting video and sending it to video platforms like Samsung, Facebook, YouTube, and various other VR/360 platforms, Minor’s vision of pushing content to the cloud became more necessary.
Video comprises of 82% of the Internet
Thanks to Intel, Facebook entered the video market with Facebook Live, but the costs of doing so where exorbitant. “I asked someone on board with our vision, who builds a heavy duty streaming cloud like Amazon Web Services (“AWS”) or Google, and we realized the cost to run content on those platforms 24/7, was at least $28K, for just one month,” said Minor.
Creating a ‘Sharing Economy’ Around Global Computing Commodity
Today, there has been a rapid escalation in the adoption of video content and the size of producing that content—e.g. HD, 4K, 8K, and VR. “Video has hit an insane inflection point,” said Minor. “It’s no longer called video, but rather, ‘reality.’”
Reducing Costs for Video Distribution
With the release of HD, 4K, and VR, media companies and broadcasters have been plagued with extraordinarily high costs. Companies are watching their consumer viewership from costless broadcasts, to costing over the top internet services.
Like Uber and Airbnb, Minor’s vision for the VideoCoin Network in creating a ‘sharing economy’ around the commodity of global computing, became apparent, and necessary. “There are so many data centers and machines that go unused,” explained Minor. “We can profit off that while helping the broadcast industry become more cost-effective and efficient.”
Increasing The Level Of Innovation
As a consumer, we don’t see what happens on the back-end of video applications. For example, we have the NBC app to watch our favorite content, but we don’t see or understand what it takes to produce that video and push it to us.
Studios that distribute video are using AWS, and Amazon is VideoCoin’s direct competitor. These large companies are limited by their margin, and that margin is Minor’s opportunity.
“Providing for a reduction in costs through the utilization of unused resources around the globe, allows for the launch of a new phase of application development,” said Minor. “Right now, there aren’t many new applications, just YouTube and Facebook. Video has become completely dominated by new players on the back-end and the front-end.”
“Encoding video content 24/7 is what makes video expensive, especially when you’re dealing with 4K quality,” explained Minor. “For example, the HD signal you as a consumer receive at home may be about 5mbps, but prior to its encoding, it was 40mbps.”
With Crypto-Mining, Energy Is Everything
“The most important thing is that Bitcoin miners make or lose money based on the price of energy,” said Minor. The industry model, beginning with Bitcoin mining, connects computers to the internet, which allows it to run software, providing miners to get paid in cryptocurrency. That’s already been proven a thousand times over with Bitcoin mining. In turn, they take the cryptocurrency they just earned and buy more hardware with it, to expand mining capabilities.
With the VideoCoin Network, the model is entirely different. It recognizes that Bitcoin has already established a costly and time-consuming process for achieving what we call “efficiency,” and builds upon that. “If the network of computers we are using are all competing based on the price of local energy, that’s not in Amazon’s best interests, because they don’t have that power, and they make a lot of money that nobody else makes,” said Minor.
We have already seen the effects that mining can have on local energy and communities, where cities like Plattsburgh, have put a temporary ban on cryptomining, until more effective means of mining and processing can be determined, without impairing the communities utilities.
“People are locating next to hydroelectric dams, and there will be disruptions,” said Minor. But, all disruptions point to a network of users that are competing solely on the price of power. Currently, platforms like Amazon or Google haven’t established data centers that are able to compete on the price of power.
Like in Plattsburgh, we have seen large consumers of electricity, scattered around and historically, people have built data centers near points of internet access, which is now prioritized around the cost of power. While disruptive to communities, the general nature of computing requires a low-cost power to make money, shifting into an area of hyper-efficiency. That is VideoCoin’s end game.
Overcoming the Cultural and Technical Hurdles
Challenges Facing The Internet Video Infrastructure
“We have a ready market that we know is profitable, and is growing at 25% a year, where video is 80% of the Internet” –Halsey Minor, CEO of VideoCoin
Media companies are weaning themselves off AWS because of the exploding costs. “The issue is that there is no other direction to go when it comes to monetizing that content,” emphasized Minor. “Amazon and Google, by their very structure, can’t do this – but, we can.”
The difficulty lies in actually building networks capable of handling the volume and size of content pushed out. “Nobody has built them before,” said Minor. “We are pioneers in trying to create a new computing model.”
The major issue back in his days with Dillon and Benioff was data security. No company wanted to entrust their data to the cloud. Salesforce had to overcome a cultural hurdle that allowed the industry to move forward.
Unlike SalesForce, VideoCoin is facing a technical hurdle. “We are taking this technology and actually delivering on its promise in an area that just hasn’t been done yet,” said Minor.
Execution
Right now, there are hundreds of white papers, and hundreds of promises. Some kept, a lot broken. Recognizing the difficulty in building out these coins and networks, the ultimate challenge is executing on these promises.
So what makes Minor’s approach different? VideoCoin is setting a high quality standard by making itself available only to sophisticated institutions, avoiding any public sale, and assembling an team with a proven record of success. The only way to ensure people know what they are getting into and understand the potential risks is by selling to those who can handle that work and deliver.
A lot of what the VideoCoin Network does is on the back-end. Similar to AWS, the consumer doesn’t know who NBC or Facebook is using to stream content; they only they’re able to watch content on their app. The difference is that content producers are paying less money in creating more products, by pushing material into the cloud, rather than repackaging it. This allows developers to use their open-source framework to build new kinds of applications.
“The market is there. The demand is there. The need is there. But, there’s a big technical hurdle that needs to be overcome,” said Minor.
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