Online transactions are more efficient and transparent using blockchain technology than with any other medium.
Blockchains record transactions by employing the computing power of hundreds, thousands or millions of “nodes” across the world. Each node - often a personal computer - simultaneously completes algorithms that record a transaction and verify each other node’s calculations. Every transaction, recorded as a “block” in the chain, is written in a code that incorporates the code of the previous block. As such, a blockchain ledger cannot be altered, since it would conspicuously alter every block leading up to it in the chain.
However, the use of blockchain extends beyond financial transactions. LiveTree’s video content and AI software can be hosted efficiently on a distributed network of nodes, rather than on gigantic internet servers which have to be rented from companies like Google or Amazon. Furthermore, blockchains can record the movement of information and ideas as well as currency. Intellectual property disputes could be judiciously, easily and accurately resolved. Filmmaking could become a widely collaborative, interactive process, perhaps even shared between creators and audiences.