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Exactly, good questions, that's what I was wondering as well!

After looking around, I think this is complete bullshit. I mean, it's a normal website with a normal HTTP download. The only difference is that the payment method is Ether.

So I think calling this "blockchain-based" is sensationalist.

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This definitely is blockchain-based. Specifically, this project is using an ethereum smart contract to record the release of a piece of creative content along with a list of contributors to the realisation of that content. These contributors will be automatically and transparently paid a portion of the revenue each time someone purchases that content. My understanding is that currently the content is hosted on amazon s3, but future plans would use something like ipfs.

Some data on the ethereum contract including stored values and transactions: http://frontier.ether.camp/account/c7696b27830dd8aa4823a1cba...

Wait, this is the first iteration. Look forward in the next release.

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