The co-founder of Ethereum has launched a documentary that showcases the distributed ledger technology. The documentary was released in New York on the 26th of October. It was directed and written by Alex Winter and it is titled Trust Machine: The Story of Blockchain. The documentary is about 84 minutes long and it covered several subjects from the history of Bitcoin to the development of blockchain technology. Joseph Lubin, Ethereum’s co-founder, and the founder on Consensys, played an executive role in producing the documentary.
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Talking about the history of Bitcoin, the documentary credited the global economic crisis of 2008 as the catalyst that propelled Satoshi Nakamoto into the development of Bitcoin and the underlying blockchain technology. His vision was to produce an open decentralized ledger that will be used for financial transactions. However, the documentary made it clear that things didn’t happen perfectly as BTC became the number one choice for illegal transactions and other forms of fraud. This is because of the decentralized nature of the network. This stained the reputation of Bitcoin and other cryptocurrencies that followed. Until this day, the industry hasn’t been able to shake off this stain.
About the Blockchain Documentary
Industry critics have mentioned that the documentary is going to serve as a deterrent for people who do not know anything about the blockchain industry but are trying to penetrate it. Ben Kenigsberg from New York Times had this to say:
“The film is a solid teaching aid. A hodgepodge of arguments for blockchain technology, Trust Machine is not a model of clarity but it explains the basic concept of blockchain technology efficiently”.
The documentary talks about many contributions that blockchain technology can make in the world including combating things like identity theft and changing the power distribution process to empower micro-producers. An example is the application of blockchain technology in the solar industry.
The film made it clear that even if blockchain technology has a lot of potential, most people are drawn to it because they consider it a shortcut to riches. One Hollywood reporter had this to say about it:
“Most people in the world are more concerned about making quick money from the industry. The closing films of the film acknowledged that the potential of blockchain makes it attractive not just to speculators but to scammers as well”.
This isn’t the first time Alex Winter is creating a cryptocurrency-focused documentary. About three years ago I he produced a 90-minute film called Deep Web. It was about the arrest of Ross Ulbricht, the webmaster of the Silk Road Marketplace.