Blockchain Exec Says Decentralized Platforms Won't Necessarily Replace YouTube

While decentralized platforms provide a viable alternative to YouTube, Theta Labs' Wes Levitt believes there is still a place for centralized platforms.

YouTube’s bans on crypto-related content has been problematic for the industry and is spurring demand for decentralized alternatives.

However, according to Wes Levitt, head of strategy at Theta Labs — the firm behind Theta.tv — both YouTube and decentralized platforms can co-exist. 

YouTube is increasingly banning crypto-related content. In April, Jason Appleton, known as Crypto Crow, was banned from YouTube briefly. In May, Cointelegraph’s Bitcoin halving Livestream was canceled abruptly.

Levitt told Cointelegraph, “We definitely see this censorship of crypto content as a problem, and we've recently welcomed several crypto streamers onto Theta.tv platform as a result. A fully decentralized platform will become inevitable as more streamers get banned from YouTube and other major platforms.”

At the same time, Levitt doesn’t think YouTube will be fully replaced by decentralized alternatives: 

“I don't think a fully decentralized platform will necessarily replace YouTube; some content types will probably remain better suited for a centralized platform. But a decentralized alternative can co-exist alongside YouTube, to give streamers and viewers more freedom to choose their content platforms online.” 

Theta runs Theta.tv, a crypto-powered streaming service broadcasting esports, poker tournaments, and major blockchain and cryptocurrency conferences including Consensus and the Crypto Asia Summit. Recently, Google Cloud, Binance, Blockchain Ventures and gumi Cryptos were announced as Enterprise Validators for the Theta network.

Theta and the Japanese content market

Last month, Theta announced a strategic partnership with gumi Cryptos to enter Japan’s $3 billion content market. Levitt revealed that they are aiming to whitelist the firm's THETA and TFUEL tokens with the Financial Services Agency.  

In Japan, only whitelisted tokens approved by FSA can be traded at crypto exchanges. There are currently only 26 whitelisted tokens in Japan. 

Levitt said they would be “looking to launch integrations with video streaming platforms in Japan, allowing users in Japan to earn TFUEL token rewards for watching and sharing their favorite video content.”