Why blockchain technology will change the entertainment industry

An industry booming with a huge potential…

The Entertainment industry is probably the industry that has the biggest growth potential. The fact that there is more and more free time for individuals coupled to the fact that technologies enabling access to content are changing consumption patterns is leading us nowadays to a general will to react in real time around our communities of interest. Taking into consideration all of the previous factors, analysts are seeing this industry as being the first in terms of growth and time spent by individuals in the very near future.

 

…and whose development is limited by the management of financial flows 

While this industry is already well structured on core businesses that allow the production of content and its dissemination, it is nonetheless less structured from a point of view of platforms and financial flows. Thus, the modes of financing works, the retribution of the many actors who participate in their creation, the payment of consumption are all realized in a very traditional way, often in spite of the economic actors at each end of the value chain.

 

Blockchain as a growth accelerator

Blockchain technology facilitates access to payment methods and allows any object or service to be represented on the form of digital assets managed by Smart Contracts. It also allows to precisely define the rules and methods for the transfer of these assets in exchange for payment. In such a case, that is when we talk about the famous DVP (Delivery versus Payment), which is particularly well structured and managed by the financial markets.

 

The Myrillion project aims to structure exchanges and financial flows related to the Entertainment industry as efficiently as they are today in the financial sector, using blockchain as a basic technology for their structure and execution. It is the dematerialization of securities (equities, bonds, derivatives, …) that has allowed globalization and the acceleration of exchanges in finance. Similarly, the dematerialization of works, their beneficiaries, the redistribution rules and their ownership on a blockchain will give the Entertainment sector the opportunity to continue its development on a solid foundation that preserves the interests of both creators and consumers while fluidifying them and facilitating exchanges as a result. To find out more, come and discover Myrillion, an innovative and unifying platform backed up by the Blockchain technology, dedicated to all actors of the Entertainment world.

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