“It really does open-up a whole new world of distribution, anti-piracy and monetization possibilities” – that’s how Linius CEO, Chris Richardson, summarised the significance of Linius’ successful test of the world’s first virtual video blockchain, when he sat down with CEO and Director of Boardroom.Media, Will Canty.
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“Of course this is particularly huge for the media and entertainment industry,” continued Chris. “But, anybody who’s a creator, a rights holder, a distributor of video content can generate tremendous value from the Linius Video Blockchain.”
Listen to the full audio interview between Chris and Will on www.boardroom.media, covering:
Read an edited extract of that interview below, here:
Will Canty: You recently announced that Linius successfully tested the world’s first virtual video blockchain. What about Linius’ technology makes this possible?
Chris Richardson: “Blockchain is the underlying technology behind cryptocurrencies.
“For the last seven or eight years, if you go to Silicon Valley and talk to the venture capitalists, everybody’s been imagining a world where you can use blockchain to control and monitor, and really authentic the ownership and transaction of events, for things other than cryptocurrency on the internet.
“We’re seeing people start to do that with land deeds and titles, and pieces of paper – where the blockchain is controlling and validating who owns that. But, we’re not seeing it happen with media.
“And the reasons it’s not happening with media, is that the internet standard for video, MP4, creates very large files. So, there’s no way you can store them inside of a blockchain.
“The Bitcoin blockchain itself is, for example, over 180 gigabytes today – and that’s just for crypto coins. If you imagine that each one of those transactions was hundreds and hundreds of megabytes, as it would be if you were attempting to transact traditional digital video files, you’d quickly use-up all the world’s storage.
“But, with video virtualization, we have the ability to virtualize that video into a much smaller sized atom, that you can then put inside of the blockchain itself. This is something we’ve now done. Nobody else can do this.
“It allows content owners, such as movie studios, to have complete control and visibility over their distribution and access to their videos. And, it actually goes a lot further than that, and opens-up whole new monetization opportunities for the world of content creators – whether that’s major studios, or indie producers, or even individuals like the YouTube stars of today.
Will Canty: And, what are the benefits of video blockchain to the video industry? What type of companies would this solution be best suited to?
Chris Richardson: “Anti-piracy is an immediate application.
“The problem in the industry right now is that people are not incentivised to watch content if they can’t access it directly from the provider – they’re actually disincentivised. And, that’s really part of the cause of the foundation of piracy. The people who pirate most content are also the people who spend the most money on paid content.
“By using blockchain, you can then actually encourage those people to – instead of pirating the content they want – not only access it, but share it in a way that ensures everybody in the industry is appropriately compensated. So there’s no value lost.
“Moreover, you can also create whole new monetization models, and turn those previous pirates into potential paying distributors – so enabling and actually rewarding peer-to-peer content sharing.”
Linius has the opportunity to uniquely address the global piracy challenge, with worldwide revenues lost to online television and movie piracy set to reach US$52 billion by 2022 – almost twice that incurred in 2016, according to the latest Online TV Piracy Forecasts report.
Will Canty: And what are the benefits beyond anti-piracy?
Chris Richardson: “Beyond anti-piracy, there’s auditability. Movie studios today, when they want to know how many times somebody’s watched the latest film on, say, Foxtel, they receive a static report from Foxtel every month or quarter.
“However, when you watch something as a virtual video, the entire analytic stream is exposed through the blockchain to anybody who’s involved in that transaction. So now you have complete accountability and auditability of where that video has gone –who’s watched it, when they stopped watching it, and everything surrounding it.
“And then, last, but certainly not least, there’s the chance to develop entirely new revenue streams – from built-in payment gateways, to automated royalty payments, and incentivised consumer-to-consumer transactions. There’s just a ton of opportunity across the media landscape.”
When asked about future plans, Chris said things were progressing quickly.
“We’re already having a number of conversations with a number of potential partners in the media and entertainment industry,” said Chris. “And, we’ll be demonstrating Linius Video Blockchain live in a public webinar, Wednesday 20th March, 2pm AEDT.”
Register to attend the webinar HERE >
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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
Lachlan James, Director of Marketing and Communications, +61 (0)431 835 658, email@example.com
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