French Producer Dominique Boutonnat recommends blockchain technology in the film industry
Fri, 17 May 2019, 03:54 am UTC
French director Dominique Boutonnat has submitted a recommendation report to the National Center for Cinematography (CNC), with a heavy emphasis on blockchain technology.
In the report, the film producer said that producers, right holders, and others are constantly disputing on the value chain of filmmaking. As a result, the balance of power is skewed. Thus, he recommended blockchain technology as a solution to this problem, with a goal to make a clear record of the entire value chain.
The Money star made three recommendations in his report, as reported by BeInCrypto.
First, Buotonnat wants to redesign the Cinema and Audiovisual Register (RCA) around blockchain technology. Moving RCA to a new platform allows a quicker processing time and a more modernized system. Blockchain possesses an innovative ability to record and store information.
Second, he recommends a blockchain-based tax collection system. Boutonnat noted that receipts are poorly managed and can distort real viewership numbers. Blockchain technology allows these numbers to be collected in real-time.
Third, he noted that blockchain could be responsible for a seismic shift on how the chain of value in the media industry is perceived. The widely diversified media channels and streaming platform can make revenue collection and distribution complicated. But blockchain technology can make these tasks easier by automating these processes.
However, this is not the first time for blockchain technology and the filmmaking industry to cross paths. Variety reported that movie technology firm Motion wants to connect movie producers and sales agents directly with their audience using an advanced digital distribution method.
Motion is in Cannes to show industry actors how an Ethereum blockchain-enabled system for micro-payments and peer-to-peer movie streaming services can be combined to maximize revenue.
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