Video-tech company Linius Technologies (ASX: LNU) has announced the successful completion of its video blockchain prototype pilot using video virtualisation – a technology that could eliminate video piracy.
The pilot involved the transfer and embedding of virtual video files within a blockchain, then successfully using smart contracts to control transactions associated with the video files.
By pairing blockchain with video virtualisation technology, Linius is aiming to “solve video piracy as we know it today”, Linius’ chief executive officer Chris Richardson explained.
“For the first time, content owners – such as movie studios – can have complete control and visibility over video distribution and access. Video assets and viewers can be validated prior to playing the video, eliminating improper play out of the video,” Mr Richardson added.
“This is particularly exciting, because it demonstrates that the protective power of blockchain can be applied directly to video – just as it is to cryptocurrency today – to effectively address the world’s multi-billion-dollar piracy problem.”
Unlike current anti-piracy measures that attempt to stop piracy behaviour, Linius’ blockchain prototype accepts content sharing, but ensures content owners have paid for it.
“Linius feels this is the natural evolution of its anti-piracy strategy, and will use blockchain to protect, distribute as well as monetise video itself,” said Mr Richardson.
“It’s now possible for all video stakeholders to have an auditable trail of how many times a video is played, and be instantly compensated at the time of play, based on digital contracts.”
“From guaranteed tracking and built-in payment gateways, to automated royalty payments and even peer-to-peer transactions, the Linius video blockchain is set to transform video production and distribution.”
The power of virtualisation
Linius’ Video Virtualization Engine makes video blockchain possible by breaking-down video into small blocks of data, creating virtual video files. A fraction of a percent of the original video file size, virtual video files can be easily transferred and managed by blockchain.
“With traditional video, a blockchain would be impossibly big. And, the internet standard video format mp4 does not work in blockchain. Virtual videos are ideally suited to digital assets, which can be recorded, transferred and managed by a blockchain,” Mr Richardson said.
The successful video blockchain prototype test follows-on from Linius’ December 2017 announcement, where it signalled its intentions to deliver “the world’s first video blockchain”.
Late last year, Linius also rolled-out its commercial SaaS platform, Linius Video Services (LVS).
LVS enables individuals or businesses to independently start virtualising videos, or building their own solutions, with its video virtualisation technology.