SingularDTV, a first-of-its-kind blockchain entertainment studio, is partnering with venture production studio ConsenSys to build a smart contract-based rights management platform for film and television on the Ethereum blockchain. Based on ConsenSys' rights management prototype, Ujo Music, ConsenSys will support the S-DTV service, enabling it to attach usage policies and real-time revenue flow to its video and media content.
"The development of smart contracts, particularly for entertainment rights management, is an ideal use case for blockchain technology," says S-DTV's CEO, Zach LeBeau. "S-DTV will address today's lack of transparency and fundamentally change the prominence of creative accounting in the entertainment industry, with a particular focus on benefiting independent productions. Our rights management platform will empower creators by giving them back control over their creative output."
Joseph Lubin, Founder of ConsenSys, said "Ujo is intended to serve as a user-owned and controlled content registration platform where usage policies can be attached for artists, consumers, promoters, venues, curators and other actors to license and use as appropriate. Licenses are created and transferred in real-time and value flows in real-time to the creators (or content owners). S-DTV's film and television rights management model adds an important component to the Ujo ecosystem, which is building core components that will enable the emergence of a business and social network for various arts industries."
Source : prnewswire.com