The advent of the internet has shaken the media industry from roots. Back to the time when media industry was reigning over us and we all had to rush to our DVD rental stores. Video streaming industries put rental giants to shame. Yet our needs were not fully met and we still all face a lot of issues for e.g., Netflix is thinking of adding ads to generate revenue.
So, I say DOWN WITH THESE VIDEO STREAMING INDUSTRIES!
I say we shift to blockchains now to answer our problems regarding centralization, transactions costs, etc. The blockchain empowers you to become creators and distributors on their own. This community is growing and attracting more and more people.
As more people flock towards online streaming sites, there is a significant downfall in cable channel viewership. And we don’t blame them because it is far convenient than most traditional ways. With apps like Netflix and Hulu, who have a share of their issues, blockchain video streaming seems to be the most viable option currently.
One thing we all know is that its far more secure, the decentralized security protocol system prevents content from being stolen, pirated and redistributed. In fact, they run on an open ledger so there are no secrets, resulting in the highest level of accountability.
So, who runs the show?
Centralized servers have glaring faults; the content is stored and distributed on central servers making the transaction costs high. Another disadvantage is that whatever content the company chooses to put in front of you, you can only stick to that. *scrolls through useless movies selection on Netflix*
The best part is that ANYONE can create a blockchain platform and decide to create a video streaming blockchain. People can buy tokens, like a movie ticket, to be a part of it. But they are at highly discounted prices because decentralization cuts the middleman; distributors and creators are free to transact business directly with viewers. One such example is Flixxo, it offers decentralized content sharing at discounted prices. Another such blockchain that aims to disrupt the entertainment economy and become a universal digital currency used by all platforms is, Slate SLX.
Calling out my indie cult members because this is surely a treat. It is so hard to find torrents and links to obscure indie movies because they almost never make it to the mainstream market and great movies go unrecognized because they don’t appeal to the wider audience. They are never played on the cinemas and we’re stuck waiting for them to be released on DVD AND THEN on the torrents.
Apart from entertainment, this can solve a lot of piracy issues. Since everything is stored on a blockchain, its easier to keep it safe and from being stolen. If video streaming could be less costly and more accessible then no one would feel the need to steal movies to view.
This could be great news for the film industry because it means that companies can now get in contact with the audience directly, without spending loads of money on distribution. One blockchain and you’re set to go.
Though this has branched out with as much speed as cryptocurrencies and trading, it still needs recognition in the wider audience and we’re all set to bring it to the wider range of public. If you want a sneak peek of how cool this really is, then make sure to watch the video down below.