via NEWMEDIAWIRE -- Linius Technologies’ (ASX: LNU) – the only
cloud-based solution that transforms static video
into hyper-personalized video experiences with its
patented Video Virtualization Engine™ (VVE) – has successfully
tested the world’s first video blockchain, opening new
distribution, protection and monetization possibilities to the
global video industry.
To see an explainer video about the world's first
virtual video blockchain, go
to https://vimeo.com/318096086
By applying its unique video virtualization
technology, Linius successfully used smart contracts to control and
transact video as a digital asset within blockchain – for
the first time.
Linius intends to demonstrate virtual video
playing on a blockchain-aware player. Register to attend the
upcoming webinar
here: https://www.linius.com/investor_updates/
Linius CEO, Chris Richardson, said the
breakthrough had the ability to solve video piracy as we know it
today. “With virtual video embedded within each block of the
blockchain, smart contracts can be used to control the transactions
associated with video files,” said Richardson. “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.“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.”
According to Digital TV Research’s
latest Online TV Piracy Forecasts report, worldwide
revenues lost to online television and movie piracy will reach
US$52 billion by 2022 – almost twice that incurred in
2016.
Beyond anti-piracy: Driving new revenue
models
In addition to secure content distribution,
Richardson said that video blockchain would facilitate superior
monetization of video content, enabling built-in payment gateways,
automated royalty payments, and even peer-to-peer transactions.
“Linius feels this is the natural evolution of its
anti-piracy strategy, and will use blockchain to protect,
distribute as well as monetize the video itself,” said 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.
“With the ability for content owners and studios
to distribute and monetize content with guaranteed tracking and
royalty payments, including enabling paid consumer-to-consumer
content sharing, the Linius Video Blockchain is set to transform
the entire world of video production and distribution.”
Details of the successful video blockchain
test
The details of the successful test are as
follows:
- Linius virtualized several videos of different sizes, stored in
the cloud on Amazon S3
- On a private instance of Ethereum (a world leading,
blockchain based distributed computing platform), Linius generated
a smart contract to control transactions against the virtual
video
- Linius then successfully uploaded the virtual video
into the blockchain, executed the smart contract transaction (with
associated mining), and successfully retrieved a copy of the
virtual video based on the criteria of the contract
- That retrieved virtual video was then validated with
ISOviewer
The successful prototype test follows Linius’
December 2017 announcement of its intentions to deliver the
world’s first video blockchain, coinciding with the publication of
its video blockchain strategy.
How video virtualization makes video blockchain
possible
Linius’ patented VVE 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,” said Richardson. “And, the Internet standard video
format MP4 does not work in blockchain. Virtual videos, however,
are ideally suited to digital assets, which can be recorded,
transferred and managed by a blockchain.”
About Linius Technologies Limited:
Linius Technologies Limited (ASX: LNU) has
invented and patented the Video Virtualization Engine™ (VVE), which
is available on Amazon Web Services, Microsoft Azure and IBM
Cloud.
Amazon, Microsoft and IBM are investing billions
in virtualizing ‘video services’ (technologies) and Artificial
Intelligence in the cloud. It is arguably the biggest battle on the
internet, given that video accounts for nearly 80 percent of
internet traffic.
Only Linius can expose the data that makes up the
video file, making cumbersome video as flexible as all other forms
of data. Accessing the data within the video file is the missing
link for video cloud service providers, creating unparalleled value
across the internet video industry.
Linius’ VVE-powered Video
Hyper-Personalization and Search Solution 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. No human hands required.
Linius is revolutionizing the way organizations
and individuals across the globe produce, deliver and consume
video, enabling previously impossible hyper-personalized video
experiences.
It’s a breakthrough set to disrupt entire
multi-billion-dollar industries. Linius is initially focused on
delivering its Video Hyper-Personalization and Search Solution to
six core markets: News and Media, Sports Broadcasters and Rights
Holders, Education, Corporate Communications, Security and Defense,
and Sports Betting.
For more on Linius Technologies,
visit www.linius.com
For regular news and updates, follow Linius
Technologies on Twitter (@linius_tech), LinkedIn (Linius
Technologies Ltd), Vimeo (Linius Technologies) and Facebook
(@linius).
For further information or interview requests, please contact:
Linius Technologies:
Lachlan James, Director of Marketing and Communications
+61 (0)431 835 658
pr@linius.com
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