Gary Fung, the original founder of torrent tracking site IsoHunt – long since closed, then resurrected by others – believes that Bitcoin microtransactions could eventually kill online piracy.
Fung, who left IsoHunt after its initial closure back in 2013, told TorrentFreak, “Technologically, I envision studios and other media companies creating open APIs and platforms so new innovative streaming services can be developed on top. […] That would solve the studio’s fear of single players like Netflix dominating media distribution and eventually dictating terms in the industry.”
In the future, Fung see a model in which Bitcoin becomes the universal online currency for online media consumption, saying, “Imagine when everyone can watch and listen to anything, anytime, anywhere, with mere cents, automatically and continuously deducted from your Bitcoin wallet.”
“Here’s my tip to industry associations like the MPAA and RIAA for continued relevance in this Internet age, possibly for everyone’s benefits,” Fung said. “Become standards bodies for programmatic APIs over media rights, metadata and micro-transaction details. Record labels and movie/tv studios can use these standards to make their own works available for streaming and to accept payments from third parties.”
Source: KitGuru
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