Linius Technologies Limited, a cloud-based solution that transforms static video into hyper-personalized video experiences with its patented Video Virtualization Engine (VVE) – plans to showcase what they say is the world's first virtual video blockchain in a live webinar, Wednesday 20th March at 2 pm Australian Eastern Daylight Time (AEDT).
“Linius aims to fulfil the promise of blockchain and move beyond cryptocurrencies,” said Linius CEO, Chris Richardson. “We feel this is the natural evolution of our anti-piracy strategy and we aim to use blockchain to protect, distribute and monetize the video itself.”
The webinar will:
- Demonstrate virtual video playing on a blockchain-aware player
- Outline the steps taken to make video blockchain possible for the first time
- Explain the benefits and use cases including anti-piracy, auditability, hyper ledger
- payment methods, and new revenue generation
- Discuss high level next steps
“With virtual video embedded within each block of the blockchain, smart contracts can be used to control the transactions associated with video files,” said Linius CEO, Chris Richardson.
“For the first time, content owners – such as movie studios – can have complete control and visibility over video distribution and ensuing revenue flows.”
Register for the 45-minute webinar here.
Earlier this year, on 19th February 2019, Linius announced it had successfully validated its blockchain capability.
Potential benefits include:
- Anti-piracy: Video assets and viewers can be validated prior to playing the video, eliminating improper play-out of the video.
- Auditability: Content owners, such as studios, can have complete visibility and control across the entire distribution chain, maintained automatically, removing intermediaries and expanding margins.
- New revenues: Users are sharing content right now, often illegally. Current anti-piracy actions attempt to stop this behaviour. The Linius Blockchain accepts this behaviour but ensures content owners are paid for it.
Linius built and tested a prototype, where virtual video can be embedded in a blockchain, and smart contracts used to control the transactions associated with video files.
Since that time, Linius has successfully connected the blockchain to a video player, making the prototype easily demonstrable.
Research from the World Economic Forum suggests that distributed ledger technology like blockchain could boost global trade by more than $US 1 trillion over the next decade.
“With figures like that, it's easy to see why major cloud providers and Linius partners such as IBM, Microsoft and Amazon, are devoting significant funds to the development of blockchain technology,” said Richardson. “From IBM Hyperledger, to Azure Blockchain Workbench, and Amazon Managed Blockchain.”
“Linius Video Blockchain has the potential to address myriad challenges regarding video distribution, protection and monetization – throughout the global media and entertainment industry, and beyond.”