Video and movie distribution has seen its share of disruption. Videos stores like Blockbuster was disrupted by Netflix and now even Google and Amazon are streaming video content.
Blockchain technology, powered by nodes of peer-to-peer computers around the world, is on the rise.
Can we expect decentralized entertainment applications built on blockchain to replace streaming services like Netflix or Amazon?
Blockchain has the power to fundamentally disrupt the entertainment industry because it brings out a completely new, decentralized model for content distribution. In a decentralized world, no single website or authority would have a say over what content is to be distributed.
A number of new crypto projects have cropped up such as LivePeer, built on the Steem blockchain, and Viuly, built on Ethereum.
Here are a few ways that a fully decentralized blockchain based entertainment network might disrupt the industry:
- Free Up Content Creators. Content creators could create shows and make them available over a decentralized platform instantly
- New Channels. New “channels” could emerge in a completely decentralized way. You could envision channels for esports, live events, fantasy, sci-fi, news, etc.
- Advertising and Free Content. Free content could even disrupt the traditional TV advertising model.
- Paid Content.
Full story: – How Blockchain could kill both cable and Netflix
Recently another player entered this arena, the BitVault®, the world’s first blockchain smartphone, launched a decentralised blockchain application store giving developers access to the BitVault® blockchain without the need of building their own.
This can be a great environment for decentralised content providers and the developers of the BitVault®, Embedded Downloads are according to the company working on a decentralised media application.
More on the BitVault® – Click Here