Netflix and Blockchain: Will the Streaming Company Embrace Bitcoin?

Netflix and Blockchain: Will the Streaming Company Embrace Bitcoin?

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Streaming giant Netflix is among the 35 largest publicly trading companies. It has not yet worked with Bitcoin, but it has acknowledged it in some ways.

Openness to crypto-related content: Though Netflix has not adopted Bitcoin, it is willing to host crypto content, with numerous Bitcoin documentaries in its streaming catalogue.

Retail payments: Netflix does not yet accept crypto payments. However, Netflix CFO David Wells stated in 2016 that Bitcoin may become a desirable option as cryptocurrency matures. "[It] sure would be nice to have bitcoin, in terms of a global currency, that you could use globally," he stated.

Enterprise services: Netflix does not use blockchain internally, nor does it have any blockchain tools for enterprise.

Investment: Netflix does not invest in Bitcoin, cryptocurrency, derivatives of cryptocurrency, or blockchain companies.

Anti-crypto activity: Netflix has not directly supressed crypto-related content. However, it has been subject to complaints of censorship against other media, something that may concern crypto investors.

Executive sentiment: In addition to Wells' statements above, Netflix CEO Reed Hastings has acknowledged Bitcoin. In 2015, he praised a critique of Bitcoin by the economist Robin Hanson. Though this is not an endorsement, it shows that Netflix executives are aware of crypto.

Summary: Given that Netflix executives have been aware of Bitcoin for at least five years without making any moves, it seems unlikely that the company will take a further interest any time soon. Nevertheless, the firm could plausibly embrace cryptocurrency.

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