Film executives and tech industry tycoons are planning to form a working group that will chalk out strategies on how blockchain can be implemented in the creative industries.
The decision has been taken on Tuesday at the American Film Market in Santa Monica by Patrice Poujol from The Lumiere Project and Manuel Badel from Badel Media.
Badel said in a statement on the sidelines of a seminar at the AFM on Tuesday,
“To better understand the applications and potential impact of blockchain approaches, we need structures involving industry stakeholders. It would be a sort of sandbox without borders where collaboration in experimentation, sharing of expertise, but also access to financing and markets will be among the main benefits.”
The seminar is expected to include a renowned New-York based lawyer, Jesse Weiner, who happens to be the co-managing partner of Yingke Law. They will together declare a common initiative to establish a global roadmap and a globally linked ecosystem for the progress of blockchain and smart contract technologies in the film industry.
The first partners in the alleged digital bridge project are from Canada, Montreal, and Hong Kong, Asia’s prominent financial center, a promising home for fintech, and a still-vital filmmaking center. They strive to bring in several other prominent institutions based in the USA, Africa, Latin America, Europe, Russia and several other parts of Asia.
The network carries out research, practical solutions, and education for the film industry and arrives with a yearly reviewed strategy for the use of blockchain and smart contract technologies in creative industries.
Autonomous laboratory initiatives are expected to work on research that includes blockchain convergence with AI or machine learning and XR, and its surging integration into the five crucial features of sectors film, music industry, publishing, digital arts, and video games.