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Jun 2, 2023

Brazilian Startup H3aven Introduces Innovative NFT Solution to Combat Password Sharing on Streaming Platforms

In a world where password sharing has become commonplace, Brazilian startup H3aven is revolutionizing the way we access our favorite streaming services with a pioneering NFT solution.


Turning the Tables on Netflix

On May 23, streaming giant Netflix announced an additional monthly charge for users who share their passwords with people outside their households. However, this global policy is facing a potential legal challenge in Brazil, where it may violate the Consumer Defense Code (CDC), according to the consumer protection agency Procon of Espírito Santo. Procon is seeking clarifications from Netflix and threatens legal action, as reported by G1.


This standoff could find a resolution through the innovative application of blockchain technology. By creating a tokenization layer for user credentials using dynamic NFTs, it becomes possible to prevent password sharing while ensuring user data privacy. This groundbreaking solution, known as "Tokenized Access Control," has the potential to be implemented not only by Netflix but also by other platforms like Spotify.


Behind the Scenes

H3aven's invention has received accolades at this year's ETHGlobal Hackathon in Tokyo, showcasing the concept's ingenuity. Co-founder Antonio Hoffert suggests that Netflix could maintain its traditional login process, using an email and password, while incorporating this new tokenization mechanism behind the scenes.


Implementing NFTs creates an interface that maintains a user's subscription history, capturing contract changes and new payments, among other things. It also prevents the duplication of credentials. Co-founder João Henrique Costa theorizes that people will become more cautious and won't be able to share their login information anymore since anyone could use the NFT and make transactions on the user's behalf using its private keys.


A Promising Future

This blockchain use case, set to launch in September, offers a range of possibilities for business models, including enhanced privacy and security, as well as revenue anticipation through smart contracts, bypassing the need for bank or investor intermediation.


However, Netflix appears to maintain a reserved stance toward crypto-assets, particularly in terms of advertising. As the industry continues to evolve, only time will tell how these cutting-edge technologies will reshape the digital landscape.


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