Movie Industry Looking Towards Digital Currencies to Fight Piracy by Rewarding Participants to Watch Free Content

While it is common for film enthusiasts and moviegoers to pay to see movies, piracy has become a very challenging issue in the industry. The major driving force behind pirating movies is the desire of consumers to watch new contents immediately they are released, without having to pay through subscription platforms such as Amazon or Netflix or going to theatres to see the movie.

The Most Pirated Movies in 2016

According to a study, 48% of residents in the US have seen a film after it left the cinema, but before it was legally available to watch at homes. Also, 24% said they have watched a pirated film while it was still showing in cinemas. Some of the most pirated movies in 2016 include Zootopia, Batman vs. Superman, and Deadpool, while the most pirated TV series is Game of Thrones.

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The Solution to End Piracy

As the 71st annual Cannes Film Festival starts, one of the major focuses will be the next program that focuses on innovation in the film industry via blockchain tech. Blockchain technology is capable of solving prevailing issues that the movie industry is facing, such as digital right issue, piracy, and user data protection.

A very popular Hollywood producer is demonstrating how digital currency and blockchain technology can help the movie industry overcome piracy as well as other common issues they are facing. Andrea Iervolino (the CEO and co-founder of Ambi Media Group) just announced the imminent launch of TaTaTu, a platform based on blockchain that interlinks entertainment viewing with social media activities.

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Movie Enthusiasts to Be Rewarded with Digital Currencies

Just like other blockchain-based platforms, TaTaTu uses a cryptoeconomics approach to the distribution and consumption of content, offering users digital currency as rewards to participate in watching free movies, gaming, sports, and other kinds of media. TaTaTu wants to reward users with TTU (an ERC20 token) for sharing and viewing free content.

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