Linius CEO, Chris Richardson, caught-up with Director of Cornerstone Media and Editor of InsideMarket.net, Phil Carey, to discuss how Linius’ successful test of the world’s first virtual video blockchain would impact the media and entertainment industry.
Webinar: To register for the upcoming public webinar, where Linius will demonstrate virtual video playing on a blockchain-aware player, subscribe to Linius Investor Updates HERE >
Richardson said that:
- Linius had embedded virtual video within a blockchain for the first time, providing the global entertainment industry with a mechanism to dramatically reduce the US$52 forecast to be lost to piracy in 2020
- Content creators, rights holders and distributors can now control, monetize and protect video content in previously impossible ways – with smart contracts via blockchain, just like cryptocurrencies are today
- Every video accessed via the Linius Video Blockchain would create a transaction for Linius via its SaaS platform, Linius Video Services
- Content owners and producers could now track distribution of video down to individual purchases and interactions, receiving audience insights and analytics for every approved transaction
- Content owners and producers could also incentivize viewers to share video too
Read extracts and highlights from the interview below.
Video blockchain: Control, insights and monetization
“Every time somebody uses blockchain to distribute, watch, or share one of these videos, that’s going to result in transactions for us on our video virtualization technology [via our SaaS platform, Linius Video Services],” said Richardson. “[For example, a movie studio would virtualize a movie once], then, every time somebody watches that movie – presses, ‘rent’, ‘buy’, whatever action it might be – we create a new virtual video.
“Remember, virtual videos are tiny. They’re just a small fraction of the size of a regular video – less than one percent.
“For every single view, each viewer receives a new virtual video, which is his or hers. They can then share that, play that, can rent it out – whatever the terms of the smart contract are. So yes, from a monetization perspective, both when the content owner uploads it to the blockchain and virtualizes the file for the first time – and every single time someone creates a new virtual version of that video by purchasing it or executing the contract – that’s a transaction for us.”
Potential video blockchain distribution models
In terms of what the technological distribution model would look like for movie studios and other content creators or rights holders, Richardson said there were two broad options.
“The core underlying technology can be applied in a number of different ways,” said Richardson. “Ultimately, something will get built that’s a platform – whether that’s by us, or in combination with partners. But, equally, there’s nothing to stop independent studios from going out and building their own video blockchain solution now that it’s possible. So it could go either way [at this point].
“It could be, a given studio decides that they want to build their own blockchain distribution mechanism. Or, it could be that there’s a global platform for distribution that any of the studios could sign-up for, and publish their content through – sort of a blockchain version of YouTube.”
Where to next?
Read the original announcement, and watch the explainer video, HERE >
Find Phil Carey’s full interview write-up HERE >
Sign-up for the upcoming live webinar demonstration HERE >
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About Linius Technologies Limited:
Linius Technologies Limited (ASX: LNU) has invented and patented the Video Virtualization Engine™ (VVE), which is available on Amazon Web Services, Microsoft Azure and IBM Cloud.
Amazon, Microsoft and IBM are investing billions in virtualizing ‘video services’ (technologies) and Artificial Intelligence in the cloud. It is arguably the biggest battle on the internet, given that video accounts for nearly 80 percent of internet traffic.
Only Linius can expose the data that makes up the video file, making cumbersome video as flexible as all other forms of data. Accessing the data within the video file is the missing link for video cloud service providers, creating unparalleled value across the internet video industry.
Linius’ VVE-powered Video Hyper-Personalization and Search Solution enables anyone to instantly search the data within video, from across an infinite number of sources, and automatically assemble the results in a single stream on-the-fly. No human hands required.
Linius is revolutionizing the way organizations and individuals across the globe produce, deliver and consume video, enabling previously impossible hyper-personalized video experiences.
It’s a breakthrough set to disrupt entire multi-billion-dollar industries. Linius is initially focused on delivering its Video Hyper-Personalization and Search Solution to six core markets: News and Media, Sports Broadcasters and Rights Holders, Education, Corporate Communications, Security and Defense, and Sports Betting.
For more on Linius Technologies, visit www.linius.com
For further information or interview requests, please contact:
Lachlan James, Director of Marketing and Communications, +61 (0)431 835 658, email@example.com
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