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LBRY

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Adapted from the English Wikipedia article LBRY, available under CC BY-SA 4.0Updated 27 November 20257 sources
LBRY, Inc.
Company typePrivate
IndustryBlockchain, File sharing, Social media
FoundedMay 2015; 11 years ago (2015-05)
FounderJeremy Kauffman, Jimmy Kiselak
DefunctJuly 2023 (2023-07)
FateShut down following SEC legal ruling
SuccessorOdysee (independent company since 2021)
Headquarters
Manchester, New Hampshire
,
United States
Area served
Worldwide
Key people
Jeremy Kauffman (CEO), Alex Grintsvayg (CTO), Josh Finer (Director of Operations and Analytics), Julian Chandra (CMO)
ProductsLBRY protocol, LBRY.tv, Spee.ch (discontinued), Odysee (video platform)
Websitelbry.com

LBRY (pronounced "library") is a blockchain-powered file distribution and payment system that facilitates decentralized platforms, primarily focusing on social media and video-sharing services. In September 2020, Odysee, a video hosting service created by Julian Chandra, was introduced utilizing the LBRY network. On October 1, 2021, Odysee became an independent company. Platforms such as Odysee are considered decentralized counterparts to YouTube, featuring minimal content moderation guided by community standards; material involving pornography or violent content is removed from listings but remains accessible through the blockchain.

The leadership of LBRY, Inc. included CEO and political activist Jeremy Kauffman. The company halted its operations in July 2023 after a legal ruling by the U.S. Securities and Exchange Commission determined that LBRY had engaged in the sale of unregistered securities.

History

The LBRY protocol represents a decentralized network for file sharing and payments, built upon blockchain technology combined with BitTorrent protocols. This allows users to establish accounts and register content that cannot be erased by the company itself. By utilizing peer-to-peer file sharing, LBRY distributes content without dependence on centralized servers. Content creators can upload diverse digital media—including videos, music, images, podcasts, and e-books—directly onto the LBRY blockchain. All LBRY projects are open source.

In October 2017, LBRY, Inc. introduced spee.ch, a media hosting platform based on their protocol. Spee.ch was discontinued in December 2019 to make way for LBRY.tv. Another video platform leveraging the LBRY protocol, Odysee, entered beta in September 2020 and officially launched in December of the same year. After legal action by the U.S. Securities and Exchange Commission (SEC), Odysee was separated into an independent corporate entity with its own CEO on October 1, 2021.

Company

Established in May 2015 by Jeremy Kauffman and Jimmy Kiselak, LBRY, Inc. developed both the LBRY protocol and its associated platform. The company was based in Manchester, New Hampshire.[1] Between 2015 and 2016, additional co-founders Mike Vine, Josh Finer, and Alex Grintsvayg joined the organization. Kauffman held the position of CEO; Grintsvayg served as CTO; and Finer was director of operations and analytics.[2][3] Julian Chandra acted as chief marketing officer.[4]

LBRY created its proprietary cryptocurrency called "LBRY credits" (LBC), which was integrated into a digital marketplace operating on the LBRY blockchain. Content producers could generate revenue from streams or receive tips via LBC tokens. Users accumulated credits through engagement with the platform and referral programs.[5] In March 2021, the SEC filed charges against LBRY for selling unregistered digital asset securities, claiming that proceeds from LBC sales were used to finance company operations without appropriate registration.[6] CEO Kauffman initiated a public effort contesting the SEC's designation of LBC as a security.[6] On November 7, 2022, the SEC obtained summary judgment against LBRY in federal court.Cite error: The opening <ref> tag is malformed or has a bad name Initially demanding a $22 million penalty, the SEC later reduced the fine to $111,614 due to LBRY’s limited financial resources and near cessation of business activities. In July 2023, following this penalty, LBRY announced it would shut down.[7]

Content and Users

LBRY's video sharing platforms have been characterized as alternatives to YouTube. In 2017, LBRY, Inc. preserved 20,000 UC Berkeley lectures that had been removed after the US Department of Justice determined the videos breached the Americans with Disabilities Act due to missing transcriptions. Spee.ch, a media hosting service built on the LBRY protocol, was utilized by organizations such as Deterrence Dispensed to distribute blueprints for 3D-printed firearms. When LBRY, Inc. discontinued support for spee.ch in 2019 to focus on LBRY.tv, Deterrence Dispensed transitioned their content there.

During late 2020 and early 2021, LBRY experienced a significant rise in user registrations, with a reported 250% month-over-month increase by January 2021. A substantial portion of these newcomers were identified as supporters of former President Donald Trump and gun rights advocates who had been banned from YouTube. Analysts linked this expansion to the removal of Trump and other figures from major social media platforms following the Capitol riot in 2021.

By April 2021, Odysee hosted approximately 10 million videos; among the most popular were those questioning the safety of COVID-19 vaccines. A report published in May 2021 revealed that Odysee contained numerous extremist videos promoting antisemitic conspiracy theories, Nazi glorification, COVID-19 misinformation, and activities related to extremist groups including white nationalist and neo-Nazi factions.

Experts highlight the difficulties faced by blockchain-based platforms like LBRY: despite their technological innovation, they can become repositories for extremist material. Researchers have described Odysee as "the new YouTube for the far-right," emphasizing that while the platform itself is not inherently extremist, it has gained traction among such communities.

Moderation

Since the LBRY network is built on blockchain technology, LBRY, Inc. lacks the ability to moderate users or content directly at the blockchain level. Nevertheless, the company enforces moderation on websites constructed on top of the protocol. On Odysee, LBRY’s primary platform, content policies prohibit material such as pornography and promotion of violence or terrorism. Content violating these rules can be removed from search results and browsing features but remains accessible through direct links or channel pages.

The majority of users engage with the LBRY protocol via platforms like Odysee and LBRY.tv, which are developed atop the blockchain infrastructure.

Todd Bookman from New Hampshire Public Radio described Odysee’s moderation approach as "no censorship, no deplatforming, regardless of user speech." In July 2019, when questioned about hosting files containing 3D-printed firearm blueprints, CEO Kauffman stated his intention to remove them only if deemed illegal by court rulings. Journalist Champe Barton observed that Kauffman appeared to show support by sharing these blueprints on Twitter.

On May 14, 2021, The Guardian reported that Julian Chandra, an executive at LBRY, informed Odysee moderators via email that videos endorsing white supremacy did not warrant removal; this message was accidentally sent to a user who had reported neo-Nazi content.

See also

Further reading

External links

  1. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named :11
  2. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named :2
  3. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named lbry-team
  4. ↑ Romaine, Jenna (May 14, 2021). "Social media executive says Nazi posts on white superiority should not be removed". Retrieved May 31, 2021.
  5. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named :3
  6. ↑ 6.0 6.1 Cite error: Invalid <ref> tag; no text was provided for refs named :9
  7. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named :15

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