Blockchain-powered Binge set to challenge Netflix
Blockchain-powered video on demand (VOD) is being launched by US-based Binge Media, a subsidiary of Slate Entertainment Group.
Binge hopes to take on the likes of Netflix and Amazon by taking advantage of blockchain’s secure distributed ledger technology, offering real-time payment and accurate viewing metrics.
Meanwhile Slate’s new ticketing system for events, Slatix, will help prevent counterfeit ticket sales, with blockchain ensuring all transactions are secure and transparent.
CEO Michael Moyal told ScreenDaily the objective was to “strategically disrupt the current entertainment ecosystem using blockchain technology”.
While Nate Bolotin, XYZ Films co-founder and SEG board advisor, said: “Blockchain is a buzzword right now, but when it comes to powering the distribution of premium content, Binge truly has the capability to connect talented storytellers to consumers with unparalleled transparency and access like never before.”
Slate is currently raising $20m through an initial coin offering (ICO) of its SLX token – the discounted pre-sale is already live, and runs until 9 June.
Hong Kong-based crypto exchange HitBTC has agreed to list the SLX token.