Decentralised Video On Demand service will automate royalties and payments, as well as providing transparent stats to content providers using Ethereum blockchain.
According to Screen Daily, Cinezen – a Swedish company looking to launch a blockchain VOD platform later this year – has announce that a raft of content creators have now signed deals as it prepares to go live. The new partners include France-based international film sales, production, and financing set-up Celluloid Dreams, as well as Filmexport Group (Italy), LOCO Films (France), Mirovision (South Korea), SDP (Japan), Entertaining Power (Hong Kong). US-based operations TriCoast, Bid Slate, Summer Hill, and cult B/TV-movie maker Asylum have also signed up to its eclectic collection of international genre and niche providers.
Cinezen launched in September last year, led by film industry veteran Sam Klebanov and software engineer Pavel Rabetski. Its aim is to create a transparent Video On Demand platform using Ethereum-based smart contracts to allow distributors access to all data on the titles it carries, and circumventing the “complicated and time consuming” process of accounting for royalties.
By opening up such data, it says it is disrupting the current VOD model that “puts the content providers in a disadvantaged position” where they have “no way to verify any royalty reports and can only blindly trust” the data given to them by the centralised platforms. With its system “every film is treated as a smart asset and every digital sale or rental is stored as a transaction in a distributed public ledger”. This allows both sides of the equation “the same access to the information, which nobody controls, and nobody can manipulate.”