Qtum (QTUM) is currently holding the 19th place on the global coin ranking list which makes it one of the best 20 currencies currently available in the market. As the majority of cryptos are trying to recover from a long-lasting market dip that went on for days, while trading in the green in the moment of this writing, QTUM is doing equally well when it comes to bouncing off.
However, it seems that there is more good news for Qtum even outside its market cap, so that is how we found out that this network will now be officially open for movie distribution. How is Qtum doing these days and what does it get from distributing movies through its blockchain?
Indie Movie Production and Qtum
Two Roads Picture in collaboration with Vevue, which is a peer-to-peer application for video distribution hosted on Qtum’s chain, has announced the release of the first movie to be ever distributed for viewers via blockchain network. The movie is in the genre of dramedy and the main focus in the movie is set on a young man who is wasting his life as a hacker, but things quickly change for him once he begins stealing other people’s mail while pretending to be working as a postal office. Everything changes for the main protagonist when he meets a widow through the letters he’s been stealing while he is being chased by an FBI agent.
Sounds intense, but we are more interested in seeing what’s behind the scenes, as well as how will this movie be distributed.
Apparently, the movie can be easily uploaded to the blockchain system thanks to the mentioned application – Vevue.
Vevue works as a peer-to-peer application and it operates on Qtum’s blockchain ledger by allowing users to distribute video media. It was also announced that the movie, also representing the first movie to be deployed with undisputable immutability, will be released somewhere in June where users on QTUM would be able to access the movie through making a payment in form of QTUM currency. Only the users who pay for watching the movie will be able to gain the access to the uploaded content.
That is actually probably the best thing about uploading and distributing your personal video content via blockchain system. Due to the fact that Qtum as a blockchain-based decentralized platform has fully encrypted chains, which means that QTUM, as well as its users, are completely safe and secure.
Furthermore, having that level of privacy and security automatically prevents the illegal and unauthorized distribution of intellectual property which is a groundbreaking revelation in more than just one way.
Jeremy Culver, the director of the first blockchain distributed movie believes in the future of blockchain technology and adds that he believes that piracy would be far easier to prevent in case all movies would be protected from being duplicated and pirated, that way preventing numerous illegal actions in the boiling world of movie piracy.
Since Qtum has proof of Intellectual Property rights as well as transparent fees, it is easier for owners of intellectual property to prove the rights over their own content. Moreover, given the fact that all chains are strongly protected and encrypted at the high level of security and privacy, it is impossible for hackers to break into the chain where any type of data or content is distributed, so they wouldn’t be able to duplicate and illegally distribute content that they don’t own rights to. The movie in this case, or any type of content for that matter, could only be accessed in case a payment is made and confirmed on the blockchain system.
Qtum (QTUM) and the Market Price
While the majority of coins and tokens are rising after many tough weeks of the most recent market crash, QTUM is being recovered as well. After the latest change in the market, Qtum has gained 4.57% on its price while it is rising up against the dollar.
Qtum is trading in the green against the dollar, jumping up for nearly 5% during a 24 hour period, while it is being traded in the red in oppose to BTC which is the case because Bitcoin is one of the rising coins as well in the moment of this writing.
QTUM can be currently purchased at the price of 14.97$ per one coin, and due to the good news of the first blockchain distributed movie ever being uploaded for viewers by June 2018, it is evident that Qtum (QTUM) may additionally rise in the following months, hopefully going back for its all-time high of around 90$ per one coin, which is still a far goal at this point.