July 12, 2018 853By Robert Johnson
“Broadcast media firms should be implementing blockchain over their entire business model. This could make content housing content acquisition and distribution rights on a distributed ledger more transparent. Crucially, television services on blockchain foundations could represent a fundamentally decentralized model where a degree of peer-to-peer network connection exists with no central authority. That scenario is rather further than even the keenest blockchain TV proponents are suggesting, but it is an extreme aspect worth appreciating.”Under this guise, Netflix could become totally detached from themselves. On a blockchain model, movies could be added to the service and the correct content rights owners could be paid without the need of a middleman. Moreover, customers on a blockchain model will have more control over their content, ownership will be more transparent and even payments could be made faster. Whilst blockchain integration isn’t essential, the blockchain could improve a lot for Netflix and customers, reducing costs, time and improving efficiency. The blockchain could also open up a platform for more creatives to get their content hosted by Netflix, improving their chances of having their materials viewed by a mainstream audience. It’s a futuristic idea, but Netflix could become a system that is owned by and controlled by the general population. Of course, the owners and creators would still make the most money from it, but with low running costs and worldwide adoption, Netflix on the blockchain could change the world once again.