A FEW years behind Wall Street, it’s now Hollywood’s turn to use bitcoin technology. Utilising it for movie distribution, the development has been hailed as the beginning of the end for piracy.
Leading the charge is No Postage Necessary, a romanticA FEW years behind Wall Street, it’s now Hollywood’s turn to use bitcoin technology. Utilising it for movie distribution, the development has been hailed as the beginning of the end for piracy.
Leading the charge is No Postage Necessary, a romantic indie comedy about a luckless hacker, that is being distributed via peer-to-peer video network app Vevue, running on Qtum, the most advanced blockchain in the world.
The movie gets its US theatrical release and worldwide blockchain debut in June, and will also be available to buy online using cryptocurrency.
“We are thrilled to provide movie lovers around the world a brand new way to experience their entertainment by turning the blockchain into a feature film distribution channel,” said Jeremy Culver who wrote, directed and produced the film.
“Although this is a first for the industry, we hope it will signal a shift in the way content is shared and consumed.”
A blockchain is essentially a shared, encrypted “ledger” that cannot be manipulated, offering the promise of secure transactions that allow anyone to get an accurate accounting of money, property or other assets.
The technology publicly records the unique alphanumeric strings that identify buyers and sellers, allowing more transparent and secure peer-to-peer payment systems.
Blockchain debuted in 2009 as a ledger for the leading cryptocurrency bitcoin and is already used in food safety, finance and sea freight.
Its advantages, according to Culver, include immutable proof of intellectual property rights, transparent royalty payments, and, since all blockchain data is resistant to duplication, a future in which movies are “no longer pirated”.
‘TIMELY AND RELEVANT’
The film’s producer is hoping blockchain can help No Postage Necessary go viral, as moviegoers who upload a review as soon as they leave the theatre will be able to unlock Vevue tokens as rewards.
“Up until now, the technology just hasn’t been ready — there wasn’t a platform to support the vision,” he added, noting the serendipity of a movie about bitcoin being the first to release on the blockchain.
“But innovation creates its own timing.”
Following the movie’s release using into blockchain technology will be sci-fi anthology New Frontiers, effectively five sci-fi movies filmed around the world and stitched together into one feature film.
‘SIMPLY A DATABASE’
Funded and distributed on the blockchain via a partnership between XYZ Films, Ground Control and SingularDTV, production is already under way with a release expected before the end of the year.
Decentralized, a movie from the LiveTree ADEPT blockchain platform, is set for release later this year, starring Amari Cheatom (from Django Unchained) as a sceptical economics professor learning about the technology.
The feature from video shorts specialist Christopher Arcella will serve as a pilot to a series covering many topics in the complex tech and computing sector.
“The story is written to provide an educational narrative in a fictional setting to help people completely unfamiliar with the technology gain some initial footing,” a spokesman for ADEPT said in a statement.
A number of issues need to be resolved before blockchain technology becomes mainstream, with the anonymity of transactions concerning regulators seeking to crack down on money laundering and financing of terrorism.
Pop culture writer Amy Roberts said Culver’s statements are demonstrative of a widespread fallacy that the mere presence of a blockchain can guarantee the information in it is resistant to alteration.
“Bitcoins, for example, cannot be copied as they are just entries on a ledger — not digital files per se — whose authenticity is incentivised and managed by thousands of individual peer operators worldwide,” Roberts wrote in a commentary for the Film Daily online magazine.
“But media or other data, even if referenced on a blockchain, can always be duplicated. A blockchain is simply a database.”
Anti-piracy campaign launched4:05
A new campaign is urging all Australians to back the nation’s domestic content creators.
Creative Content Australia Chairman Graham Burke joins Sky News.
- February 21st 2018
- 2 months ago
- /display/newscorpaustralia.com/Web/NewsNetwork/Entertainment – syndicated/
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