The film industry has one of the most oppressive hierarchical structure that always puts artists down with poor pay despite having played a significant role in the work. Additionally, the distribution of profits and publishing rights are often a matter that only film executives, directors and other primary industry insiders seem to control. Unfortunately, all these challenges paint an unfair scenario where a vast majority of film production houses earn unprecedented profits more than the artists due to illegal sharing regarding revenue.
Consequently, such situation call for change, and as we will get to see the blockchain technology is already on course to offer a solution for a variety of performance and audiences within the film world.
What Is CINE?
CINE is a Brazil-based blockchain venture that seeks to revolutionize the film industry by utilizing blockchain technology and digital currency to form a revolutionary platform. In their real-world application of blockchain technology, CINE will also incorporate a digital currency (CINE) to have their users purchase or rent out films and other functions below the average cost at the theaters.
What CINE Aims To Solve?
While CINE has potential to revolutionize the distribution and consumption of movies and films, the exciting part is how it exactly it plans to do it. With the blockchain technology acting as an authentic public ledger, there are plenty of ways that CINE could democratize the film industry to the benefit of the consumer. That mean CINE can solve some of the underlying challenges in the film industry that include
- Access and distribution of film and movie content
- The commercial viability of the material
- Management of the digital assets and content rights
- Fighting content piracy
How CINE Cryptocurrency Works
The CINE network is a natural fusion between blockchain technology and the visual creativity world. The decentralized model will allow for the viewing audience or CINE token holder to access the films through a scalable network and a digital currency-based payment system.
Additionally, the backbone of the CINE platform works with the innovative Quantum blockchain that will also incorporate the use of the cryptocurrency to facilitate payment between fans, viewers, and content producers. As such, CINE can easily monetize their platform and become a contender in the film space.
- Controlled volatility- the CINE tokens supply stands at 180 million, with no extra production of the tokens to stabilize its value and fight inflation
- Secure- the use of Quantum blockchain assures the level of security by offering adequate transparency not experienced in the industry before.
- Fast- blockchain technology and most of all the Quantum model will facilitate real-time transactions and settlements
- Borderless transactions- the decentralized nature of blockchain allows for no single authority to oversee the platform giving users the ability to control their resources regardless of their geographical position.
CINE Token ICO Details
The CINE tokensale has already begun. The CINE token was built on the Qtum Blockchain and 180 million tokens have been created. The accepted currency for investing in the CINE token is Bitcoin and Ethereum.
The concept behind CINE is a solid one, although there are underlying issues. While it does have the potential to change the film industry, there is still a long way to go. Most of all, the success of CINE largely depends on its mainstream adoption from where the public can adapt the new entertainment platform. All-in-all, the solution could work for the filmmakers, artist and content producers looking for a viable community for their work.