MTonomy is a Netflix, Hulu, Amazon Prime streaming service for Ethereum users.
Based in Cambridge, MTonomy went live this week. Part of their team, includes some well-known developers in the Bitcoin industry such as Gavin Andresen and others come from the MIT Media lab’s Digital Currency Initiative.
One thing to note is that MTonomy isn’t decentralized. Instead, they’re the only system out there that is able to provide enterprise-grade content delivery and security. It’s essentially the same technology that Netflix uses to secure its content. This is the first time that’s ever been available on the blockchain.
Ethereum is utilized to process payments. Metadata is stored in smart contracts. To convey a good experience, it puts the same enterprise-level servers in use which is used by others. It has incorporated encryption and Digital Rights Management protections. Content creators experience the same level of protection as they would get elsewhere like on Netflix.
When streaming services make partnerships with producers/studios, they make a contract for an entire region. Services like Netflix, Google Play, or Amazon have restrictions in this particular section. This makes it hard for people across the globe to access all the content.
One of the things that stand out with Mtonomy is its global availability. People across 170 countries can acquire content. Each transaction is completed within 14 seconds worldwide. This is the speed and power of the blockchain technology behind it.
So in the US, when services do a deal, they do like a few hundred million dollars. Outside, even for such a big studio, a country like China, the entire country could be just like $5 million in revenue. And then it gets worse when you go to places like Thailand, Vietnam. It’s extremely granular, extremely fragmented, different languages, different currencies. It becomes so much of an overhead with such little return that eventually all these major studios end up losing money.
MTonomy believes that the company can remove this friction. It’ll facilitate people to get access to quality content in areas as such. Using Ethereum, it removes the barriers and pain points that increases the costs.
Every piece of content has a smart contract. It’s best integrated with MetaMask. MetaMask is a popular browser wallet for Chrome/Firefox. The site doesn’t require much personal information beyond an e-mail address. They use accounts so it can recommend content like Netflix does.
The revenue share depends on the deal made with MTonomy. It’s different to what happens on YouTube. People can’t just upload and trade content.
As MTonomy goes forward, it is also likely that other services and platforms will be created where the consumer will not even be aware they’re using the blockchain. The company also will eventually support all cryptocurrencies.