French Producer Submits Blockchain-Focused Use Cases to National Centre for Cinematography (CNC)
The film industry is not a sector that you would immediately think of as a use case within the crypto space. But over time it seems its relevance within the industry is starting to be more apparent than we can imagine.
The blockchain technology might be a solution for the film industry
In filmmaking, the value chain is constantly getting disputed by the right holders, producers, and many other individuals; as a result, this makes the balance of power to be skewed.
With the use of blockchain technology, it will be able to create a clear record of the value chain in the sector.
The recommendations that were made
In the new report that was presented by Dominique Boutonnat, there are three recommendations that he has made.
1. The first one is the redesign of the Cinema and Audiovisual Register also referred to as the RCA. He states that the RCA should be moved to an entirely new platform, as this would save time on processing and also have a modernized system in place.
2. The taxes that get collected on the theater admissions should be done on chain, because most of the receipts get managed very poorly. As a result, it tends to distort the actual numbers of viewership. And thanks to the blockchain technology these numbers can easily be collected in real time.
3. To ensure there is a seismic shift on how individuals view the sector, then using the blockchain technology would make everything easier. When looking at tv broadcasting, it could be challenging to easy conceptualize the distributions of events that take place, but with the blockchain technology, it could make things easier for all.
The blockchain technology comes parked with several benefits for the sector, with the use of smart contracts it can serve as the route towards a trustless record of value. Thus, there will be more transparency that is enjoyed in the sector, which could boost the investments made in the industry.