The Australian software company has successfully validated blockchain technology within video applications by embedding virtual video in a blockchain, thus controlling the transaction associated with the video files.
Hailing the latest test as “a major step forward” in validating the company’s initial theses regarding virtual video on blockchain, Chris Richardson, CEO of Linius, said: “With traditional video, a blockchain would be impossibly big. And the Internet standard video format MP4 does not work on blockchain.
“Virtual videos are ideally suited to digital assets, which can be recorded, transferred and managed by a blockchain.”
Linius has developed a Video Virtualisation Engine that can break down the atom of a static video and allow producers to tag, splice, manage and manipulate video data almost instantly.
Linius initiated a test in December 2017. In follow-up tests, Linius virtualised several videos of different sizes, and stored them in the cloud on Amazon S3. On a private instance of Ethereum, a blockchain-based distributed computing platform, Linus generated a smart contract to protect and control transactions pertaining to the virtual video.
The company then uploaded the virtual video into the blockchain, executed the smart contract transaction, and retrieved a copy of the virtual video based on the criteria of the contract. That retrieved virtual video was then validated with ISOviewer.
“Linius aims to fulfil the promise of blockchain and move beyond crypto currencies,” Richardson continued. “We feel this is the natural evolution of our anti-piracy strategy, and we aim to use blockchain to protect, distribute and monetise the video itself.”
Linius maintains that its Video Virtualisation Engine, together with blockchain, has the potential to deliver significant benefits to the video industry. Some notable advantages include anti-piracy where video assets and viewers can be validated prior to playing the video as well as auditability where content owners, such as studios, can have visibility and control across the entire distribution chain — and detect fake news too!