Asia’s First Blockchain Movie
From the creator of web-series Mr.Bartender and the producer of Taiwan’s first original 4k anthology web-series The Bar, SELFPICK PRODUCTIONS’ Director Jack Hsu is now preparing a new project: a story about blockchain technology and cryptocurrency.
Jack hopes that by introducing blockchain technology, he can create a decentralized business structure and provide an alternative to Taiwan’s “unfair, stubbornly rigid, and stringent” business culture.
So, what is blockchain, and what exactly does decentralization mean?
The Big Short (2015): The Cost of Centralized Systems
In order to understand decentralization, we must first grasp the idea of centralization. Before the financial crisis of 2007–2008, banks and governments were centralized institutions that had the most power and administrative authority. As Wall Street became more ambitious, credit rating agencies began giving inaccurate appraisals to incentivize market competition, and the government turned a blind eye. This created a financial bubble that eventually burst and toppled the economy — harming countless civilians world-wide.
After the financial crisis, many people started revisiting the notion of a decentralized financial system in which governments and banks have no control. This was when blockchain technology and the cryptocurrency Bitcoin came to life. After all, the core philosophy of blockchain technology is: Without a middle-man, people can trade freely and fairly online.
If readers would like to understand more about the birth of blockchain, American biographical comedy-drama The Big Short is a great movie to start with. The film examines the life of four Americans and offers a comprehensible depiction of centralized systems and its shortcomings.
Banking on Bitcoin (2016): The Source of Jack’s Inspiration
The film that originally sparked Jack’s interest in blockchain technology is Netflix documentary Banking on Bitcoin. Since its creation in 2008, Bitcoin has evolved into more than just a virtual currency. Its purpose has caused several controversies and has even led to a “war of ideas,” or rather, a war over “freedom.” It begs the question: can people handle money in the same way freedom of speech, religion, and interpersonal relationships are handled? The documentary explores the development of Bitcoin from 2014–2016, interviews stakeholders including government officials, compares cryptocurrency to the traditional financial system, and questions the need for intermediary supervision.
How can blockchain influence film?
Besides the two aforementioned movies, Hollywood has more and more films about blockchain and cryptocurrency. The comedy Bitcoin is scheduled to premiere this year and another film, No Postage Necessary is set to release in the U.S in July. The release of No Postage Necessary will be a pivotal moment in the entertainment industry as it will be the world’s first movie to be released using blockchain technology, thus making distribution data impossible to copy and eliminating the possibility of piracy. The film will also allow online users to pay through cryptocurrency.
What about Taiwanese films?
At this point in time, Jack is still preparing for the first Asian blockchain movie, but promises exciting upcoming activities and events related to the movie, and aims to create a truly immersive form of entertainment.
As for the film’s plot, you will just have to wait and find out!
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