New Blockchain Documentary ‘Trust Machine’ Premieres in New York Cinemas
A documentary film on blockchain technology premiered in New York cinemas on October 26. The movie, called Trust Machine: The Story of Blockchain, was created and directed by Alex Winter. It has a runtime of one hour and twenty-four minutes. One of the film’s executive producers is Joseph Lubin, a co-founder of Ethereum who is also founder of ConsenSys, a blockchain software company.
The film denotes that the creation of Bitcoin was instigated by the global financial crisis of 2008. Following this predicament, Satoshi Nakamoto developed a public decentralized ledger to provide an alternative to the fiat money system. However, some people took advantage of the anonymity of Bitcoin transactions to conduct illicit transactions. This earned the digital currency a negative reputation that it is still trying to get rid of.
According to critics, this documentary is useful for those who lack knowledge n blockchain technology. Ben Kenigsberg, a film critic at the New York Times, denotes the film as a great tool for understanding the basic concepts of blockchain technology.
The film highlights several potential uses case of distributed ledger technology in the real world. These include curbing identity theft and revolutionizing the distribution of power by empowering micro-producers to generate electricity and sell the surplus to the grid.
Despite the many positives of blockchain technology, the film acknowledges that a majority of cryptocurrency investors are in the business because they deem it as a quick method of getting riches. In this regard, the documentary outlines how scammers and speculators are capitalizing on this misconception to defraud unknowing investors.
Alex winter has previously directed a film on digital currencies and blockchain technology. In 2015, he released a movie called Deep Web that focused on the apprehension of Ross Ulbricht, the mastermind behind the infamous dark web platform known as the Silk Road.