Leading the charge is No Postage Necessary, a romantic indie comedy about a luckless hacker, that is being distributed via peer-to-peer video network app Vevue, running on Qtum, the most advanced blockchain in the world. The movie gets its US theatrical release and worldwide blockchain debut in June, and will also be available to buy online using cryptocurrency.
Jeremy Culver the writer, director and producer of the film said,
“We are thrilled to provide movie lovers around the world a brand new way to experience their entertainment by turning the blockchain into a feature film distribution channel. Although this is a first for the industry, we hope it will signal a shift in the way content is shared and consumed.”
The safe nature of distribution can be testified by the blockchain which is essentially a shared, encrypted “ledger” that cannot be manipulated, offering the promise of secure transactions that allow anyone to get an accurate accounting of money, property or other assets. The technology publicly records the unique alphanumeric strings that identify buyers and sellers, allowing more transparent and secure peer-to-peer payment systems.
Blockchain debuted in 2009 as a ledger for the leading cryptocurrency bitcoin and is already used in food safety, finance and sea freight. Its advantages include immutable proof of intellectual property rights, transparent royalty payments, and, since all blockchain data is resistant to duplication, a future in which movies are “no longer pirated”.
Decentralized, a movie from the LiveTree ADEPT blockchain platform, is set for release later this year, starring Amari Cheatom (from Django Unchained) as a skeptical economics professor learning about the technology.
Funded and distributed on the blockchain via a partnership between XYZ Films, Ground Control and SingularDTV, production is already under way with a release expected before the end of the year.
However, a number of issues need to be resolved before this technology becomes mainstream and widespread in Hollywood, with the anonymity of transactions concerning regulators seeking to crack down on money laundering and financing of terrorism.
