Video-tech company Linius Technologies (ASX: LNU) has successfully completed a pilot trial of its blockchain prototype using video virtualisation, a technology that aims to eliminate video piracy.
The prototype test involved the transfer and embedding of a virtual video file in a blockchain, as well as using smart contracts to control the transactions associated with the video files.
“The company believes that this represents a major step forward, in that it validates Linius’ initial thesis regarding virtual video on blockchain,” said Linius CEO, Chris Richardson.
The company remains committed to delivering the benefits of blockchain to the video industry by eliminating improper play out of video.
Unlike current anti-piracy measures that attempt to stop this behaviour, Linius’ blockchain prototype accepts this behaviour but ensures content owners are paid for it.
“Linius feels this is the natural evolution of its anti-piracy strategy and will use blockchain to protect, distribute and monetise the video itself,” said Richardson.
Linius’ Video Virtualisation Engine (VVE) enables anyone to instantly search the data within video, from across an infinite number of sources, and automatically assemble the results in a single stream on-the-fly.
“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,” said Richardson.
Linius blockchain prototype also allows content owners, such as studios, to have complete visibility and control across the entire distribution chain, removing intermediaries and expanding margins.
The prototype was initially announced on 20 December 2017, Linius announced plans to deliver the world’s first video blockchain, publishing the Linius Blockchain Strategy.
Linius is revolutionising the way organisations and individuals across the globe produce, deliver and consume video, enabling previously impossible hyper-personalised video experiences.
It’s a breakthrough set to disrupt entire multi-billion-dollar industries.