Gary Fung, founder of the online torrent files repository isoHunt, believes that in the future, online streaming will be the only outlet for entertainment, and that bitcoin will be the primary method of payment and exchange.
A Canadian national, Fung outlined his vision of streaming services through the cooperation and participation of the owners of the presented material:
“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.”
Fung also feels that a smart move would be for studios to set up special charge-by-the-view services for films and related content, rather than by the month, and he feels that bitcoin could be at the center of it all:
“New streaming services could find a hybrid approach by using BitTorrent P2P streaming to lower cost and Bitcoin for pay per view micro-transactions. […] Imagine when everyone can watch and listen to anything, anytime, anywhere, with mere cents, automatically and continuously deducted from your Bitcoin wallet. No, you won’t own your media, but that was never the case to begin with […] physically or otherwise, but […] priced low enough that you don’t think much about the charge.”
How do you all feel? Are Fung’s ideas the ways of the future? Post your thoughts and comments in the field below.