Netflix and Blockchain: Will the Streaming Company Embrace Bitcoin?


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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