Blockchain technology, powered by nodes of peer-to-peer computers around the world, is on the rise. So can people expect new comers like OnFire Networks and other entertainment applications built on blockchain to replace streaming services like Netflix or Amazon and the shrinking cable industry?
Content production studios have already seen significant disruption recently. Services like Youtube and Twitch have created a mass market for peer-generated content, and free apps are stripping the networks from their positions as the sole creators of mass-market video content. The rise of Influencer websites, mostly high quality scripted entertainment content today, still comes via a largely centralized model.
Big studios and networks, which now includes streamers Netflix, AppleTV, and Amazon fund the development of content, and the content follows an orderly approach to distribution services like OnFire to the end user along one of the pre-defined channels: cable or OTT or mobile device.
OnFire is using Blockchain to fundamentally disrupt the entertainment industry with a robust AR/OTT and VOD model bringing out a completely new decentralized model for content distribution. In a blockchain, computers all over the world authorize together in a peer-to-peer network to work on some task — with a secure payments server or authority.
OnFire Networks agrees it is about access in today’s market. Today, most streaming services like Hulu and those offered by cable still rely on the idea of “centralized” aggregation and distribution. Content creators get past a number of “gatekeepers” and strike business deals with services like OnFire Networks, which then puts the content on a server and distributes it directly using CDNs (Content Delivery Networks like Akamai or AWS). Decisions about what content is offered, when it is offered, the price, and the distribution route are still very proprietary with less red tape.
By Jeanette Smith
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