Hollywood is turning to blockchain technology to help in combating piracy. “No Postage Necessary,” a romantic indie comedy, which was written, directed and produced by Jeremy Culver will be released in June, and it will be distributed through a peer-to-peer video network app called Vevue which runs on Qtum. It is regarded as the most advanced form of blockchain technology globally.
Culver says that the new initiative will cause a change in the way consumers access content and increase the way in which content developers benefit from the content. Hollywood is hoping to use blockchain to stop duplication of content, safeguard Intellectual Property rights and offer transparent royalty payments.
Blockchain is an encrypted ledger which cannot be changed or manipulated. The system is used to secure transactions which enable all people to correctly account for property, money and other assets. Blockchain technology records all public records in unique alphanumeric strings, correctly identifying the seller and the buyer. This helps to secure peer-to-peer payment systems and improve transparency.
The launch of TaTaTu
In yet another move by Hollywood to fight the piracy menace, Andrea Lervolino, the co-founder and CEO of Ambi Media Group has announced the launch of TaTaTu, a blockchain-based platform which combines entertainment viewing with social media activity.
Lervolino says that a majority of content platform business models are built in such a way that they only allow the final user of content to pay for it. He says that this leads to markets that illegally sell the content hence reducing revenue to the original owners of the content.
The TaTaTu platform will allow free access to mainstream content on a blockchain network. This way, owners of content will be able to monetize every aspect of the content that is stored in the TaTaTu library.
Lervolino said that TaTaTu has been launched so as to address the needs of the marketplace by allowing free access to content but again rewarding developers. This way he says, rights holders will not have to be worried about piracy. They will be able to earn from every aspect of their content basing on real views and effective consumption.