Blockchain technology is providing solutions for some of the most complicated problems in the world. What could not be achieved with any other technology till date is now becoming possible to achieve with help of blockchain. Take problem of movie piracy for example. Despite movie-makers going to great lengths to protect their work from being stolen it’s well known that no movie has remained untouched from the menace of piracy. But now it seems that blockchain can provide a solution for this problem as well, because in a world’s first Hollywood filmmaker Jeremy Culver is going to make use of blockchain technology to protect his upcoming movie from piracy.
The movie is called “No Postage Necessary”, and it’s essentially an indie romantic comedy set to release in June. Besides launching in theaters it will also be available from select few Video On Demand (VOD) partners of Jeremy Culver, and from an app called Venue where users will be able to watch it after making the required payment in cryptocurrency. Venue is a P2P video network built on Qtum blockchain, which is considered an advanced blockchain in the world of cryptocurrencies.
Jeremy Culver, who has written, directed and produced the upcoming movie, had following words to say about the use of blockchain technology on Twitter:
#blockchain is so much more than a way to make money. True value is obtained through #peace & understanding. Trust & #integrity are essential in obtaining this fulfillment. #blockchain provides the transparent transactional backbone of these values. @NoPostageFilm
— Jeremy Culver (@JeremyECulver) March 24, 2018
It remains to be seen how successful or unsuccessful this experiment remains in preventing piracy. But regardless of its success or failure this is certainly something worth watching carefully for Indian movie industry. The problem of piracy is not new in Bollywood – it’s very old (and very big too). Estimates suggest that Indian film industry incurred the losses of more than 18,000 crores in 2016 because of piracy. If this experiment remains successful for Culver, maybe our Indian filmmakers should also try to do something similar for their movies.
In the recent days blockchain technology has started to pick pace in India. Most recently country’s first blockchain project was implemented in which 3 online bill discounting platforms were integrated together to share and protect data with help of blockchain. NITI Ayog has also been devising some ways to implement blockchain in various sectors including agriculture, education and supply chain.