Video Blockchain in Development by Linius Technologies

Announcements, Blockchain, Innovation | December 20, 2017 By:

Linius Technologies is planning to create a virtual video blockchain, which the company claims has the potential to revolutionize the way video is distributed and consumed around the world.

Linius Technologies, formerly known as Firestrike Resources Limited, focuses on the development and commercialization of the Linius technology, which includes a collection of patents and software used for the simplification of video files. The company claimed that its Video Virtualization Engine (VVE) has is the next evolution of video streaming. VVE transforms static video files into agile, dynamic files that can be easily manipulated on the fly in order to deliver an enhanced, custom experience for both broadcasters and end-users.

The company is developing a blockchain solution that would enable users to transfer video in a manner that is guaranteed to be safe and secure, where all parties have full visibility of the transfer, and where the actual video will not play until all parties agree that the transfer was legitimate.

“We believe the adoption of blockchain as a fundamental technology, combined with video virtualization, provides a way for Internet user to genuinely own and transfer video assets to other users, safely, securely, and in an auditable way, and that enabling this capability will accelerate our vision of making all the world’s video accessible as data,” the company said.

The Linius blockchain will protect, distribute and monetize the video itself. This would enable studios to disintermediate their own channels. Stakeholders in a video will have an audible trail of how many times a video has been played, and can even be instantly compensated at time of play based on digital contracts. User-generated-content can also be instantly monetized. Instead of artists relying on YouTube payments or patron subscriptions, video producers can charge what they want for each view and receive payment instantly.

The video blockchain can also be integrated with either standard client server applications, or private blockchains, to maintain security and monetization all the way from the camera to playout. Smart contracts can be used between the private and public blockchains to ensure stakeholder rights in how the assets are distributed, cloned, and modified.