Since music and film became digitized, both the RPAA and Hollywood have fallen victim to a multitude of platforms that have come into existence, making content freely available and accessible to people across the world, driving down profits and revenue streams.
But, with blockchain technology, there may finally be a means by which to harmonize the digital age with the entertainment space, ensuring that content creators are protected and that brands and companies receive a fair distribution of revenues from production and content distribution.
In the hopes of balancing the equation, Hollywood producer Andrea Iervolino is launching a new blockchain-based platform, TaTaTu, that intertwines social media activity with entertainment viewing. TaTaTu is a global and social entertainment platform through which users receive rewards for watching movies, sports, gaming, and other forms of content, as well as from their friends’ viewing.
Recognized for films like End of Watch, Apocalypto, The Merchant of Venice, and Machete, Iervolino hopes to bring Hollywood to the blockchain by integrating a 360-degree entertainment platform that ensures secure digital rights records, as well as the fair distribution of advertising revenue between users and content providers.
As the co-founder of AMBI Media Group, a multinational consortium of vertically integrated film development, production, finance and distribution companies, Iervolino’s vision is to develop a nurturing community of dedicated and engaged users who watch and create videos that can then be shared with friends and members of the community.
HARMONIZING THE SCALE
Thanks to blockchain technology, users will finally be rewarded for their social entertainment activity in an open and decentralized way – earning tokens to watch movies and other content for free, and receiving additional tokens from the movies and the content consumed by their friends.
Users can engage with their friends and be rewarded for their social media relationships by receiving digital tokens for views generated by both themselves and their friends. Token holders will also take active part in shaping the future of the platform, with the ability to vote on which content the platform should provide in a fully transparent and decentralized way.
The industry is no stranger to piracy and illegal downloading. Well, finally, content creators no longer have to worry about not being compensated fairly – or at all – for their work, because platforms like TaTaTu will monetize every piece of content based on effective user consumption and real-time views, providing for transparency and real-time financial reporting.
“Social networks and entertainment platforms are making huge profits by gathering data from their users and selling it to other corporations without rewarding their users,” says Iervolino. “There is a need for a platform that provides higher levels of transparency to their users, brands, and rights holders about the revenues generated and monetization of users. Audiences need free, legal and quality content with a simple user experience.”
Most content-based platform business models are centered around the idea that users need to pay for their content, which encourages users to find alternative, more cost-effective routes, ending up in the illegal marketplace (e.g., torrents and the dark web). “Well, no more, because TaTaTu is listening to the marketplace and adapting—giving free access to content and taking it one step further by rewarding users with an automatic monetization system,” says the Hollywood producer.
Advertisers can target specific audiences by placing their ads on a reliable platform with premium content. Brands get access to very detailed information about their audience. All user profiles are verified, and all the views and engagement metrics are accurate.
Encryption and Transparency
Thanks to its blockchain, TaTaTu can record each transaction in an open and incorruptible distributed ledger, ensuring that users and content providers get rewarded. A digital rights management platform will ensure that all talent, distributors, and studios have an accurate record of their work recorded and secured on the blockchain, reducing the percentage of piracy throughout the industry.
Blockchain is Eliminating ‘Fake News’ & Returning Ethics to Journalism
Ethereum co-founder Joseph Lubin recently suggested that blockchain-based journalism platforms like Civil can help return ethics to the journalism industry. In order to fully grasp this idea, here’s your technical insight into how this feat can be achieved using the technology lying behind bitcoin, blockchain.
Blockchain removes the presence of middlemen from a framework as it provides a decentralized network where various nodes are directly communicating with each other. Blockchain-based decentralized networks also have their own native tokens which represent value in the network. So the economy that is built around this token unlocks the potential to remove central party where rewards and incentives are shared between the users through specified network rules.
SEE ALSO: An Understandable Explanation of The World’s Most Hip Tech: The Blockchain
Brave, which is an ad-free browser and uses Basic Attention Token as its native digital currency, is one of the best examples depicting the elimination of third-parties while maintaining a sustainable economic model. Through its unique framework, it eliminates middlemen ad-exchanges and directly puts the users, publishers, and advertisers in touch with each other in the network. Based on the metric of ‘Attention’, publishers get their rewards directly from the network. Advertisers pay the network in order to run their ads. Users get to earn rewards if they choose to view the ads. Middlemen ad-exchanges which take up a huge cut in the current frameworks and Brave gives us a glimpse into how they can be eliminated for good using blockchain. But how can this all help improve journalism? Before moving into the matter, the need is to understand the shortcomings associated with the current journalism framework.
UK Parliament Presented Showcase of Real-World Blockchain Applications
The U.K. Parliament has been presented demonstrations of real-world blockchain applications designed to educate policymakers.
Organized by the All-Party Parliamentary Group on Blockchain (APPG Blockchain), the Monday event featured live presentations from four firms working in the blockchain industry: IOTA, Oracle, Everledger and Lloyd’s of London. Among the audience were members of parliament, government officials and industry leaders, according to a statement from organizers.
The live demonstrations highlighted the potential of blockchain in real-life applications in supply chains for olive oil and diamonds (Oracle and Everledger, respectively), international trade (IOTA) and insurance claims and transactions settlement (Lloyd’s).
Fernando Santiago, blockchain research and project manager at Big Innovation Centre, suggested the event could mark an important step for the U.K.’s blockchain industry, saying:
“This is a pivotal moment for UK, which could define our future leadership in governance, commerce and competition.”
In the run-up to the event, the group also published the Online Blockchain Showcase, featuring videos of 10 companies working in the space.
The 10 firms also took to the floor at the live showcase, undertaking a “One-Minute Challenge” proposing how government could drive the use of blockchain, including in the healthcare and education sectors, as well as finance and industry.
According to its organizers, the event was inspired by the positive results of a 2018 analysis of the U.K. blockchain industry, presented by APPG Blockchain on its website along with associated organizations.
APPG Blockchain was set up by cross-party members of parliament to help ensure that the U.K. plays a “key role” in the potential opportunities that blockchain can provide for the nation’s economy, society, governance and provision of public services, according to its parliamentary web page.
Energy sector companies gather in Vienna to discuss blockchain application in the Energy Sector
More than 50 professionals from energy companies are gathering in Vienna from April 10th to 11th for Blockchain and Smart Contracts: Transforming Energy Industry Forum to discuss blockchain application and ongoing digital transformation in the energy sector.
Blockchain has the potential to bring significant benefits and innovation and promise transparent, tamper-proof and secure systems that can enable novel business solutions, especially when combined with smart contracts. The blockchain is expected to lead to much more direct relationships between energy producers and consumers and to strengthen market participation opportunities for small energy providers and prosumers.
During the Forum the participants will understand the fundamentals of Blockchain technology; learn about current development, opportunities and challenges of Blockchain adoption in the energy industry; discuss the role of Blockchain in reducing carbon emissions; get the insights on current innovation trends and new business models; and discuss the role of Blockchain for local energy communities.
Some of 15 real-use case studies which will be presented include:
Lessons learned implementing the Blockchain – by IBM Global Business Services
Current Blockchain projects from PwC – by PwC Deutschland
Digital Class Assets and Multi-signature Counterparties on Blockchain – by NEM Africa
Decentralized Trading of Power. NEW 4.0 – by Ponton GmbH
What is still missing in the Blockchain ecosystem – by Enexis Groep
Blockchain in Practice to Enable Green Local Energy Communities – by Enervalis
Curtailment vs. Renewable Energy Certificates – by Sonnen GmbH
Regulatory obstructions and other challenges regarding Blockchain – by E-Control
The Forum is organized by BIS Group (Business Intelligence Services), an event production and management company based in Europe, specializing in organizing small-scale business meetings and forums. BIS Group supports and empowers progressive and forward-thinking companies with the best practices for today’s fast-changing market.
Save the date and join us on April 10-11 in Vienna!
Venue: Das Reinisch Hotel – Vienna, Austria
Agenda | Registration
Contact person: Lina Kozina, Project Lead – Marketing