The days of illegally downloading and streaming content could soon be over thanks to an anti-piracy breakthrough from an Australian video tech firm.

Currently, copyright owners can seek court orders forcing Australian Internet service providers to block their customers from accessing sites that facilitate online piracy.

Only the process is costly - rights holders pay a $50 fee to affected ISPs for each infringing URL - and largely ineffective as mirror sites quickly appear shortly after a web address has been blocked.

Game of Thrones creators likely wish this technology existed before the hit series became one of the most illegally downloaded shows of all time (HBO)

Australian video firm Linius argue this approach is outdated and its Video Virtualization Engine offers a stronger solution.

“The problem with the internet and online streaming today is that content is too easily accessible and distributed,” Linius chief executive Chris Richardson told nine.com.au

“Most digital content today is tagged and tracked via archaic anti-copyright infringement technology, including watermarking as well as CAP coding (a distinguishing pattern of dots added during post-production, used as a forensic identifier to pinpoint the source of illegal copies).

“The protection such technologies offer does not thwart film copying, sharing and other forms of content piracy, because there are many ways to circumvent them, including file compression, cropping, colour variations and erasure of logos using content editing software.”

The company’s solution to stopping piracy relies on blockchain – computer technology that disables the ability for a file to be replicated, with access distributed when both the content owner and consumer confirm a legitimate transfer of content.

Previously blockchain has underpinned digital currencies like Bitcoin, but it could not support the file size or picture and sound data of traditional video.

Websites like The Pirate Bay can be blocked at an ISP level, but Linius say this is largely reactive.

However, the company believes its Video Virtualisation Engine solves the problem by “breaking down video into small blocks of data for the first time, creating virtual files”.

“The virtual video files are stored within the blockchain - the way cryptocurrency is today - meaning that the protective power of blockchain can be applied to video for the first time,” he said.

Mr Richardson said uploading these virtual video files to blockchain will give rights holders complete control and visibility over access.

“When video content is uploaded through a blockchain system, there is only one version of the file, which can then be distributed to multiple locations. This is all recorded using blockchain, so content creators are able to track how many times a video has been viewed / played,” he explained.

“Think of each video asset as artwork. Each asset becomes a 'signed copy’. There’s no longer any forgery because the authenticity of the video is verified by the blockchain.”

While Mr Richardson believes his company has the solution to piracy, he is aware there would need to global shift for it to work to its full potential.

“The creators and rights holders of film and television would have to adopt video blockchain as their method of distribution to kill-off piracy in the way we’ve been talking about,” he said.

“So ending privacy altogether is probably still a little while off yet. Having said that, considering the billions of dollars in potential revenue lost to piracy in Australia and around the world each year due to ineffective anti-piracy technology, I expect this breakthrough to have a swift and substantial impact.

Blockchain currently underpins Bitcoin and other digital currencies. (AAP)

“The bottom line is that people are willing to do the right thing when it comes to accessing video content; we just need to give them the right tools. And, with the ability for content creators to incentive and reward people for sharing content legally via video blockchain, this new technology can be a real win for both content owners and consumers.”

Co-founder of cryptocurrency broker HiveEx.com said the technology made popular through digital currencies was a perfect fit for stopping piracy.

"Blockchain is computer technology that records and verifies transactions between two parties on a public ledger. This can include sending digital currency like bitcoin, or even transferring the ownership of property like a title deed of a house. Every transaction on the ledger is verified and recorded across many computers so that any record can't be changed,” he said.

“This ultimately means that the blockchain can be looked to as a source of trust to determine ownership. Many companies are investing in how to use blockchain technology to innovate and improve ways of doing things. Especially when it comes to security and privacy, so it's no surprise to learn of companies working on video piracy with blockchain."