Blockchain based video streaming platform bolt to launch operations in the GCC
London and Singapore based BOLT is a digital focused video content ecosystem empowering half of the world’s population, the under-banked and unbanked, is set to launch operations in the Middle East in the next quarter.
Founded in 2017 by tech global tech-entrepreneur and innovator, Jamal Hassim, and Twitter’s former Head of Content Christel Quek, the media blockchain company has witnessed substantial growth in user numbers from the MENA region particularly for Football and Cricket over the last 12 months, prompting the company to set up the MENA operations from the GCC.
From its base in the GCC, BOLT will be focused on implementing the blockchain, wallet and cryptocurrency operations to support its global user base. BOLT seeks to establish and carry out product development, marketing, content development and aggregation in the GCC with a key focus on amplifying BOLT’s sports content strategy which includes covering sporting stories from across the MENA region for a global audience. BOLT will also partner with the HiSense Group, the Chinese multinational electronics giant, in the GCC region to carry development activities from the hub.
Speaking about its launch in the GCC, Jamal Hassim the Founder & CEO of BOLT said: “We are delighted to announce the launch of BOLT’s operations base in the GCC. The MENA region is one of the fastest growing markets for us, especially with Football and Cricket related content amongst the most sought-after by the region’s user base. We are therefore seeking to better serve our growing members from the MENA region by launching our operations in the GCC.
We are also looking set to unleash blockchain and crypto revolution in the region though our innovative products and help contribute to the region’s vibrant economy. This is an exciting chapter for the BOLT story.”
BOLT was founded with a mission to empower unbanked and under banked users from emerging and developing markets who are often left out of the information superhighway. By utilising the blockchain, offering a digital token and wallet and leveraging low-bandwidth streaming, BOLT has been able to decentralize the access to information and entertainment to the masses, making it the first real world application of a cryptocurrency. BOLT offers two key products:
BOLT+, an interactive and data consumption-friendly media platform available on web and mobile devices, where users can stream high-quality curated sports content as well as listen to and watch live radio and television channels on low data. BOLT, through its proprietary know-how, can stream high-definition video at 250MB/hour as opposed to 3GB/hour by other operators such as YouTube or Netflix. This is due to its mobile-only focus, which allows BOLT+ to process incoming streams in dramatically smaller packet sizes for efficient data consumption, a necessity for an optimal streaming experience especially in Emerging Markets. Users interacting on the BOLT+ are paid BOLT tokens, providing a chance for consumers to monetise their time spent on the platform. The tokens can be exchanged for cash or data packs.
Pegasus, a digital wallet allowing users to store, hold and exchange BOLT tokens, converting user’s media experiences into monetary value. The wallet allows users to store, send and receive the BOLTs they earn on BOLT+. Both BOLT+ and Pegasus are available on iOS and Android. This is the company’s first step towards encouraging massive user adoption of the token via entertainment and gamification, as they work towards creating an ecosystem that rewards users with BOLT Tokens for consuming and interacting with content on their platform.
The tech company has recently announced several bullish efforts to bring sporting spectacles from around the world to the often-underserved masses, streaming on the BOLT+ digital platform, including the English Premier League Football, and as an official media partner for the ICC Cricket World Cup 2019 and the 2019 Rugby World Cup. BOLT is also an official media partner for the 2020 Tokyo Olympics being held between the 24th July and 9th August. The BOLT+ platform also streams over 30 Live TV channels including SKY News Arabia, CNBC Arabic, Al Hadath, CGTN, Channel News Asia, Deutsche Welle, France 24 and Russia Today.
