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Blockchain Revolution Redefines the Reward System in Film Industry

Blockchain Revolution Redefines the Reward System in Film Industry

Reading Time: 3 minutes by on January 5, 2018 ICO/IEO
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One of the existing problems of the present day filming industry is that a huge percentage of the films that are made each year do not make it into the marketplace and are not seen by the audience. This is as a result of the centralized nature of that has been imposed by the existing system of film distribution which involves the use of intermediaries in the form of major film studios that take up the responsibility of publishing and marketing these products.

Consequences of intermediaries

This system means that the reach of released films is limited to the coverage area the publishing studios, else any further exposure turns out to be the works of pirates that illegally distribute contents that are not original and most often of lesser quality than original contents.

The consequences of such development is that filmmakers are deprived of adequate rewards for their efforts, while viewers are stretched between paying more than they should for content, and getting less quality than they deserve for times when they fall into the unfortunate hands of pirates.

As blockchain continues to cause major disruption across several fields and industries, StreamSpace is introducing a decentralized platform where original filmmakers can interact directly with their audience, thereby eliminating room for the discrepancies that occur due to the loopholes that exist in the current system.

Simplified by blockchain

On the StreamSpace platform, their will be no need for intermediaries, viewers will be able to use the platform’s StreamShare (SSH) tokens to purchase original content directly from their owners. These tokens will be made available in a public sale that is slated to begin on January 18, 2018.

Some of the other benefits associated with this development for both filmmakers and viewers include:

Filmmaker benefits

  • Decentralized storage system provides security from piracy,
  • Enhanced control over distribution including the ability to set prices,
  • Immutable Blockchain Ledger – instantaneous and transparent payment systems.

Consumer benefits

  • Unique content delivered directly from the filmmaker,
  • Personalized recommendations,
  • Make history by joining the first volume blockchain distributor for streaming film.

An innovation that changes everything

With the goal of becoming the world’s leading destination for innovative film content, with a deep catalog that will enable personalized viewing experiences, StreamSpace has developed a proprietary and patented method for parsing large files such as digital films and storing them in a highly distributed network of servers. Hence, consumers will be able to enjoy content on a variety of screens; from their 5” cell phones to a 13” laptop to a 32” HDTV to an 84” 5K UHDTV. StreamSpace will be designing a player that will run on all of the key operating systems and consumer viewing devices.

Indeed, the revolution that StreamSpace brings to the industry will go a long way in redefining how content is distributed and revenue shared within the industry. Before now, a large part of the revenue generated in the entertainment industry has gone to the hands of intermediaries who play the role of promoters, marketers and/or distributors. But with the innovation of a decentralized platform, original content creators by interacting directly with consumers will be able to maximize the benefits of the system and achieve maximum rewards for their works.

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