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As technology continues to evolve, so too does the film industry. This symbiotic relationship is certainly impressive as we as an audience get to watch science fiction slowly become reality as the ever-developing tech makes movies more enthralling than ever. One of the most interesting relationships that we’ve seen emerge over the past few years is the connection between the film industry as a whole and Bitcoin, the world’s most famous cryptocurrency.
When the mystifying Satoshi Nakamoto first launched Bitcoin into the public eye in 2009, few would have ever thought that it would one day become a tried and trusted currency. Even fewer would believe that it would one day appear in movies and television series around the world, especially since the digital currency sounds like futuristic fiction itself.
However, Bitcoin is very real and has even garnered a reputation for being more safe, secure and reliable than traditional cash or even cards. You can now use Bitcoin to pay for almost anything, from flights through companies including CheapAir and Expedia, to goods and services through Dell or Amazon. In fact, Bitcoin has become so trusted in the business world that the iGaming industry is producing sites that deal solely in the digital currency, leaving traditional currencies behind. Bitcoin-exclusive sites such as VegasCasino still offer the same extensive collection of slots, classic casino games and sports betting that older online casinos have, but customers go here knowing that their money is safe and secure and they also don’t need to constantly worry about exchange rates as in fiat-currency online casinos.
Another recent and crucial change that is aiding Bitcoin’s impact on the film industry is the fact that at first was only acquired by tech savvy mathematicians who spent hours solving equations to create the currency. Now, with a little dedication and time anyone can collect their own Bitcoin through graphical front-end Bitcoin mining tools and platforms like Guiminer, making it easier for everyone to get involved.
As Bitcoin’s success continues to grow amongst the public and in other industries, it is no surprise that the film industry embraced the currency also. There are already plenty of documentaries out on the subject including The End of Money As We Know It, a documentary that managed to change many people’s minds on the idea of cryptocurrencies. Since then, Bitcoin has appeared in blockbusters including Deadpool, and numerous feature films have even been funded using Bitcoin including Deep Web, a crowdfunded Kickstarter film.
More recently, Dope became the first ever film to allow audiences to pay for tickets using Bitcoin as Lionsgate partnered up with Movie Tickets and GoCoin. This is a particularly exciting development as GoCoin CEO and Founder Steve Beauregard has stated that the partnership will continue for future releases, whilst Lionsgate Vice Chairman Michael Burns has stated: “Our acceptance of Bitcoin reflects our commitment to offer greater choice, convenience and accessibility to our next generation consumers.”
While Bitcoin may not be quite as prevalent as traditional cash, credit cards or other more popular payment methods just yet, we are sure that the more industries including film embrace it the more popular it will become.