CopyrightBank and X Motion Pictures (XMP) to Use NEM blockchain for Film Copyright Solutions
NEM blockchain is set to host a copyright registration and verification solution that will allow the users to place their copyrights of their works on the immutable blockchain through the partnership between CopyrightBank and Australian based, X Motion Pictures (XMP).
An announcement by X Motion Pictures (XMP) this Monday on its partnership with CopyrightBank to integrate a solution to copyright solutions enabling specifically, filmmakers and videographers to cryptographically secure the copyrights and records of their services. The process will be carried out on the NEM blockchain ensuring immutability and top security of the copyrights.
The two companies will work towards leveraging the NEM blockchain as it offers a world class system with instantaneous payment and cheap transaction fees as well as scalability. NEM Expansion Director for Australia and New Zealand for the NEM Foundation, Jason Lee was optimistic on the partnership between XMP and CopyrightBank as he saw it as an opportunity for NEM blockchain to grow its ecosystem globally.
“We are seeing an increased adoption of the NEM blockchain as a versatile plug and play platform to build blockchain projects. This partnership between CopyrightBank and XMP will further expand the NEM ecosystem in Australia and globally,” stated Jason Lee.
The X Motion Pictures, is an Australian company that creates an ecosystem for anyone in the entertainment and digital media industry including anyone producing video films, feature films, documentaries, music videos, web series, television shows, or short films to copyright their ideas.
Leveraging blockchain technology, XMP registers the content on its platform through smart contracts without relying on outside parties. The field of film making and digital media has long needed an improved, efficient and cost efficient way creators can streamline their business operations. Furthermore, the platform aims at decreasing the time and cost for filmmakers, investors, studios, and strategic partners by digitizing the process.
The founder of XMP, James Vegter, was delighted at the partnership focusing on the possibilities integration of the copyrighted content on the NEM blockchain. James said,
“We’re thrilled to be partnering with CopyrightBank because it is a fully functional blockchain project. Through this partnership, XMP will enable copyright registrations for films, screenplay, music compositions, animations, and other filmmaker assets.”
Copyright Bank is one of the latest dApps to be deployed on the NEM blockchain. Having launched barely three months ago, the copyright registration and verification platform for digital works has grown in stature and value as users continue to flock in on the platform across the globe.
The users on the platform can register their digital works (including books, music, photographs, artworks, and films, to computer programs and databases) on the blockchain through a digitally fingerprinted, timestamped record on the immutable NEM blockchain ensuring security of your copyright digital work.
“CopyrightBank’s partnership with XMP will deliver a 21st century copyright solution to the filmmaking industry. It is an innovation that is long overdue,”
Said CEO and Founder of CopyrightBank, David Oh on the partnership with XMP.