Hanno Basse: “Driverless technology is not too far away. I believe a majority of those consumers will use that time to watch video”
Hanno Basse is Chief Technology Officer (CTO) at 20th Century Fox Film Corp. He oversees technology strategy and engineering, including home entertainment, theatrical distribution, and post-production. At Fox, Hanno and his team of engineers are developing new distribution methods, are working on next generation entertainment technologies like High Dynamic Range and Ultra-HD as well as Virtual/Augmented Reality, and are involved with many other initiatives, including Content Protection and Immersive Audio.
Disclaimer: The following are personal opinions of Hanno Basse and do not represent those of 20th Century Fox Film Corp.
Why is bringing video and crypto together an exciting project? Why should people care?
I’m a firm believer in the power of video. It is the content type that’ll have the most impact in the future. We can see this all over the internet too. The majority of today’s web traffic already is video and I don’t expect this to change anytime soon.
One thing that’s really exciting is the development of autonomous vehicles. We already have the potential for driverless technology, and we already have self-braking and self-parking cars, so this concept might not be too far away.
If this technology becomes widely adopted, it’ll give many commuters another 1–2 hours extra time in a day, where they won’t have to be watching the road.
I believe a majority of those consumers will use that time to watch video.
This major leap forward will mean a greater demand for video services; and require them to be efficient and able to scale to meet this demand, you need new and innovative ways to scale these resources.
What this’ll do is it will allow for more content producers to be able to afford to get out there and do what they do best: create engaging and creative content, produce it in the highest definition possible, and distribute it to their audience on a large scale. Innovations in the crypto model make this a reality.
If you look at the history of computing, most of it is centralized, even today.
If you wanted to broadcast something vast, with large amounts of web traffic, your servers would have to be up to the challenge (or you’ll have to be prepared to pay for it). Even Amazon Web Services are still located in facilities that are essentially large factory sized data centers.
In the future, there’s going to be more and more fragmentation and localization of the audience; there’s no need to grab a piece of content in NYC if the audience for that content is in L.A., because it’s about a local event in that city.
We see new content types like Virtual Reality emerging. They require a lot of computing power, which needs to be accessible with very little latency. Many consumers will not have the disposable income to purchase that amount of processing power.
So you could imagine that you provide access to this processing power in the cloud, with a pay-as-you-go model. This processing power needs to be close to the network edge to make it work properly (because of the latency issue).
The audience has been fragmented so much that User Generated Content is more and more important, centralized services won’t be able to meet the demand in a cost-effective way. Monetization is difficult if the audience is small.
Cryptocurrency offers the promise of a low overhead, frictionless payment system that will allow easier monetization.
Why is now the right time for Video to exist on the blockchain?
We’re at this inflection point of blockchain technologies and crypto technologies and our timing couldn’t be better. There are more and more trends towards a sharing economy.
Cryptocurrencies have the potential to revolutionize payment processing especially for very small amounts which otherwise would not be economical to collect.
The rise of autonomous vehicles creates a step-change for video content that makes our timing fortuitous.
People opening up potentially hours of leisure time they have not had before is an opportunity of a size which has not come along in decades.
Combine that with the advent of 5G mobile technology and the Internet of Things, which also will create the most fragmented, decentralized and localized network humans have ever built. The business model is there, and so is the technology needed to turn it into reality.
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