Written by Metal Team

On June 29, 2018

📺 Blockchain and Chill? How Blockchain can change streaming.

Blockchain technology is on the rise, but could it really compete with the streaming giants of Netflix, Amazon, and Hulu? Frankly, yes it’s possible.

giphy1-1

Blockchain technology, which makes use of available computers, or “nodes” around the world to act as the broadcasting network without a central authority, could eventually topple the streaming giants, like Jack did with that beanstalk.

If you think this sounds impossible, consider that it wouldn’t be the first time a major technological breakthrough changed the face of the entertainment industry. In the 1980s, the rise of cable television shook the TV industry. Then came the internet, which changed everything again.

Once connection speeds became fast enough to transmit video, home entertainment would change drastically with streaming services and possibly the greatest breakthrough of all time: cat videos.😻

Blockchain won’t kill streaming overnight. Much like it took several years for Netflix to overthrow Blockbuster Video, DVDs to overtake VHS tapes, and audiences to figure out the difference between Amy Adams and Isla Fisher.

giphy10

A decentralized, blockchain world could be game-changing for content creators as they wouldn’t have to go through the Hollywood gatekeepers to get shows produced. So, what we’re saying is we could finally get the male version of Eat, Pray Love made… Eat, Fart, Sleep.

giphy6-1

With Netflix alone reportedly spending a staggering $8 billion on original programming by the end of 2018, according to Variety, blockchain has its work cut out for it. So, how could blockchain accomplish this massive feat of taking down these behemoths?

Without getting into the technical specifics, blockchain could use decentralized appswhich would essentially become the “channels” on the network. Then with the use of tokens, content creators could raise funds for new shows. Audiences could essentially vote on which shows they want to see get made by sending their tokens to fund the productions.

giphy3

Say you wanted to see a show about a crime-fighting pizza delivery lawyer called, Justice Delivered on Time!, you would send your tokens to the creators. They would then use the funds to produce the show. It would be kind of like American Idol, but instead of texting your vote for Justin or Kelly, you would send tokens to the show you’d like to see get produced. And there would be less crying.

The rise of blockchain in entertainment could create the content democracy the internet originally promised us, but didn’t deliver on. Thanks, internet. As the majority of high-quality content is still centralized and produced by the big networks, Netflix, Hulu and Amazon.

giphy5-1

If blockchain does manage to kill the centralized streaming giants of Netflix, Amazon and Hulu we might soon be saying, “Yo, let’s blockchain and chill?”

giphy4-1

Do you think blockchain can take over the entertainment world? Tell us on Twitter.

Other Metal Pay posts:

Metal Pay 2.5 is now available!

Metal Pay 2.5 is now available!

We love finding ways to make cryptocurrency easier for you to use, which is why we’re thrilled to bring Metal Pay 2.5.0 to our iOS users. With this update, Metal Pay takes another step closer to our vision for how integrated cryptocurrency and personal finances should...

Metal (MTL) is now listed on Uniswap

Metal (MTL) is now listed on Uniswap

We’re thrilled to announce that Metal (MTL) is now available on Uniswap! Uniswap is a decentralized exchange (DEX) that runs a protocol on the Ethereum blockchain, allowing traders to trade ETH and ERC20 tokens directly from their Ethereum wallets. You can trade MTL...

Metal Pay welcomes Paxos Gold (PAXG) to our Marketplace

Metal Pay welcomes Paxos Gold (PAXG) to our Marketplace

While there are lots of different types of investments, people often use broad categories to describe where they are investing their money. Stocks represent a share of a company, bonds represent your trust in the issuer; real estate represents ownership of private...

Metal Heads-up – August 2020

Metal Heads-up – August 2020

August is one of those busy months where the sleepy days of summer give way to a whirlwind of activity. Parents around the country are scratching their heads trying to figure out how school is supposed to look this year, and college students are doing the same. While...

Metal acquires Bloks.io

Metal acquires Bloks.io

Friday, Aug 21 2020, Los Angeles California. Following its recent acquisition of Lynx, and the launch of its Metal X cryptocurrency exchange, The Metal Neo Bank Payment Platform has acquired Bloks.io, the leading Block Explorer and Dev Team for EOSIO. With over 10,000...

Metal Heads-up — July 2020

Metal Heads-up — July 2020

Ah, the dog days of summer. Everything seems to be getting hotter these days - from the temperature, to the cryptocurrency markets. While we’re seeing record-breaking highs across the United States and around the world, we’ve heard that several altcoins are...