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Linius Technologies Limited (ASX:LNU), an IT company engaged into the development and commercialization of video file technology, announced that it is going to showcase its worldâs first virtual video blockchain in a live webinar on 20 March 2019, AEDT. Through its patented Video Virtualization Engineâ¢, the company provides the cloud-based solution, which converts a static video into a hyper-personalized video.
On 19 February 2019, the company notified, that it had validated its blockchain capabilities. The company had built and tested the prototype where a virtual video could be embedded in a blockchain. Any transaction related to these video files would be controlled through the smart contracts. The company had fruitfully connected the blockchain to a video player, which has made it easy to demonstrate the prototype.
About the Webinar
During the Webinar, a demonstration would be given on virtual video playing on a blockchain-aware player. The webinar would also cover the steps taken by the company to make the video blockchain possible for the first time. It would also highlight the benefits of blockchain and would demonstrate the cases such as anti-piracy, auditability, hyper ledger payment methods as well as the methods of revenue generation. The Webinar would also cover the high-level, next steps.
Chris Richardson, who is the CEO of Linius stated that it would be the first time, when the owners of the content for example, movie studios, could have complete control, as well as the visibility over the distribution of the video, and would result in revenue flows. As per the research report of the World Economic Forum, over the next decade, the distributed ledger technology like blockchain might boost the global trade, beyond US$1 trillion.
Based on this data, major cloud providers, and Linius partners like IBM, Microsoft and Amazon have started contributing funds for the development of blockchain technology.
On 28 February 2019, the company announced its half-yearly results, for the period ended 31 December 2018. The companyâs revenue increased by 2,584%. However, the company incurred a net loss of $6,426,164. The result was driven by the commercialization, as well as the continued development of the Video Virtualization Engineâ¢. It increased its marketing activities, during the period in pursuing the commercialization of the software. By the end of the period, the company had net cash and cash equivalent worth $5,217,853.
On the same date, the company announced its partnership, with the Hemisphere which has an expertise in video solutions, to launch its Hyper-Personalized Advertising prototype through SaaS platform.
On 12 February 2019, LNU launched a global marketing campaign, and the self-service portal to drive the usage of Linus Video Services, which is its SaaS platform.
In the last five years, the stock has generated an outstanding return of 86.41%. However, in the previous 6 months, the stock has generated a negative return of 55.22%. With the growing blockchain market, the investors or the shareholders might have confidence in the LNUâs stock to give a positive return in the future.
By the end of the trading session on 6 March 2019, the LNU stock skyrocketed by 30%, as compared to the previous close. The closing price of the stock was A$0.039. The company has a market capitalization of A$28.18 million, with approximately 939.35 million outstanding shares.
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