Tuesday, May 8, 2018

The next 'Netflix' may emerge on the blockchain using cryptocurrencies as the means for pay per view

As more and more Americans 'cut the cord' from cable and instead move towards the model of ala carte programming through businesses such as Netflix, Amazon Prime, and Hulu, networks and show creators like Disney are themselves looking to put their libraries on a pay per view subscription service where people can choose what they want to watch, when they want to watch.

But with the emergence of the Blockchain, the environment of pay per view may soon have to evolve since the next 'Netflix' to come to the industry may actually be one that is run from the Distributed Ledger, and use cryptocurrencies as the means of payment.

While it’s common for moviegoers and film buffs to pay to consume content, piracy has become an ongoing issue. One of the driving forces behind pirating video content is the consumers’ desire to watch new content as soon as it’s released, without having to pay to see movies in theatres or through subscription-based platforms, like Netflix and Amazon. 
Yet as the 71st annual Cannes Film Festival kicks off, one of the highlights will be the NEXT programme, which focuses on innovation in the cinema industry through blockchain technology. Blockchain technology has the ability to solve prevailing concerns facing the film industry, such as piracy, digital rights issues and protecting user’s data. 
One well-known Hollywood producer in particular is demonstrating how blockchain technology and cryptocurrency will help the film industry overcome piracy, along with a number of other problems. Ambi Media Group co-founder and CEO, Andrea Iervolino, has just announced the upcoming launch of TaTaTu, a blockchain-based platform that intertwines social media activity with entertainment viewing. - Forbes

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