Blockchain — The Movie Industry Game Changer
In this golden age of digital multimedia, people can watch their favorite shows for free on a few selected platforms with the help of smartphones and debit cards. With the help of blockchain technology, the movie industry can get a new makeover in its organizational structure which will facilitate distribution, accessibility, and gaining of profits more efficiently with proper security measures.
Blockchain can be explained as a ‘coding system’ to create digital ledgers to store and verify various kinds of transactions on an encrypted, secured and decentralized platform. Initially, this technology was used only to record financial transactions, but in this age, blockchain has found new implications for various industries. In the movie industry, blockchain has a new role to play — democratically monitoring the digital assets stored in a decentralized ledger, by decreasing the transaction cost and increasing transparency. Blockchain technology helps in the practical use of smart contracts in the movie industry to facilitates the raising of capital through crowdfunding projects.
Let’s take a quick look at how blockchain technology offers end to end business solutions to the movie industry to increase the efficiency in every step of the distribution, management and accessibility process.
Global Distribution
Good news for movie addicts! Now one can get access to the new movies and television series with blockchain technology all across the globe. Even if you are loyal to Netflix or Amazon Prime, it is not accessible to people living in certain corners of the world — but blockchain is. This technology offers you a platform where you can enjoy various TV shows and movies… isn’t it amazing? Blockchain solution companies such as HashCash Consultants are working to provide blockchain based movie streaming infrastructure globally to facilitate the distribution of movies and TV series on a worldwide basis without facing any copyright restrictions.
Managing the Digital Rights of the Assets
The movie industry is known to be controlled by the rich and the famous. This highly centralized industry keeps the power in the hands of a few, which results in the content creators and artists (people behind the creative front) not getting their due credit. Blockchain technology offers the decentralized creation of films globally, which facilitates enabling of location, cast and crew, and sourcing of talent acquisition across the globe.
California-based blockchain solution company, HashCash, facilitates increased accountability and traceability in this industry which helps in offering the creators their much-deserved remuneration and recognition. It offers to manage the digital rights through smart contracts, trying to make this industry a decentralized system where every member of this industry works in a transparent way so that efficient management takes place in the organizational structure of the entertainment world.
Eradicating Piracy
Blockchain technology facilitates recording and tracking of digital assets such as movies, tv series, music and ebooks by means of its indistinguishable watermark technology. This helps in storing these creative work, asset and ideas as an immutable record in the decentralized system of the blockchain.
Though it is true that blockchain is a disruptive force but the features of this technology has made it quite clear that it can change the way industries work for the better.
