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Bitcoin Soared After Global Banking Crisis – But What Does It Mean For Some Of The Hottest New Projects Like Script Network (SCPT)?

The Script Network, harbouring a flourishing ecosystem, is a layer-one video protocol. The network houses a range of products, including Script TV, Script Marketplace, Script Enterprise, Script Blockchain, and sADs. All products are geared towards different audiences and attract passionate TV lovers and business owners alike.

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The Script Network
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In a recent turn of events, Bitcoin has seen drastic price surges over the past week. Apparently, it was mainly due to the global banking crisis plaguing American and Non-American banks. The well-established cryptocurrency’s price seems to have strong links with the global banking system, seeing how it is its main rival. 

Recently, Bitcoin’s value surged by approximately $2000 in just a single day. It was followed by the US Federal Reserve’s announcement to lend $300 billion worth of cash to US banks struggling to remain afloat and dealing with inconsistencies in their financial operations. Silicon Valley Bank and Signature Bank are two of the many banks claiming the loan. 

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Furthermore, the Saudi National Bank decided to halt investments in a Swiss lender, Credit Suisse. The decision was made after evidence of Credit Suisse's finances facing certain weaknesses. Right after this announcement, Bitcoin's value surged again. It is because investors traded their fiat money for Bitcoins in hopes of shielding their assets from the possible global banking crisis. 

Will Web3 Reap the Benefits?  

Web3, powered by advanced blockchain technologies, is simply a word used to describe the reimagined World Wide Web with decentralization and token-based payment systems at its very core. In recent years, it has been gaining traction as internet users see its potential and ability to transform Web2 into something more community-based without privacy concerns posed by major ringleaders like Facebook (now Meta). 

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Bitcoin and crypto are nowhere near the reason for the cracks identified in banking systems around the globe. Therefore, this provides a framework on which investors can trust crypto and Web3 as a whole. Hence, this surge in investor trust and Web3 users spell future growth for Web3 ecosystems like the Script network, which seeks to revolutionize video streaming, among other things. 

What is the Script Network?  

The Script Network, harbouring a flourishing ecosystem, is a layer-one video protocol. The network houses a range of products, including Script TV, Script Marketplace, Script Enterprise, Script Blockchain, and sADs. All products are geared towards different audiences and attract passionate TV lovers and business owners alike. 

The network’s main highlight, Script TV, was designed to take into account all the problems faced by current video-streaming services. It is essentially a video delivery network, that allows users to stream content from a host of channels 24/7/365. Furthermore, as a part of their watch-to-earn scheme, users can get rewarded in SPAY tokens for their viewing time. More than that, the structure consisting of a marketplace alongside a streaming platform, keeps users engaged in activities like their multi-level reward model. Additionally, they can get opportunities to trade SPAY tokens for physical rewards such as festivals, events, tickets, and much more. 

How Does it Work? 

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Users can earn SPAY tokens by completing tasks such as daily sign-ins and watching content for a set number of hours. These tokens can later be traded for other cryptocurrencies. To begin benefitting from their watch-to-earn mechanism, all users are expected to initially mint a ScriptGLASS NFT for free. Then later on, users can recharge and upgrade it to access premium content and greater rewards for their watch time. 

The Script Network has two main tokens, SCPT and SPAY. The former is to be used as a governance token, while the latter facilitates transactions. Moreover, business owners can easily advertise their products and/or services on their Script TV platform. The Network allows these advertisements to reach a diverse audience without any geopolitical restrictions. Companies can also benefit from the Script Network's decentralized clever storage solutions for video files. 

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Is Buying Script Tokens Worth it? 

Bitcoin’s reacceptance and growth in the financial sphere could indicate a growing acceptance of Web3 platforms and applications akin to the Script Network. Video-streaming services are already popular in most parts of the world, transcending geographical borders. The Script Network only seeks to introduce solutions to the problems plaguing it, thereby improving the whole sector. 

Many users are likely to find their reward schemes attractive and hop on board, driving its growth even faster. As a consequence, helping its subsequent token surge in value over the coming years. It is only wise to hop on the bandwagon as early as possible, as this could very well be the future of video streaming. 

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About Script Network 

The Script Network is a video-based blockchain protocol focused on decentralized storage and 24/7 live content. Script Networks products include Script TV, GameFi NFTs, and multiple other dApps currently being built on-chain. Script TV, (one of the core services of the Script Network protocol), is a free-to-air live television platform. It features countless channels and offers diverse movies, sports, documentaries, and news content, all of which earn rewards whilst watching content. Script Networks watch to earn elements that allow users to develop and grow to enhance their NFTs through GameFi mechanisms. 

None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities. 

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