All TV content producers will unarguably agree that licensing, trading, and distributing the TV content is a far more tasking job actually producing the content due to high costs charged by the distributors and intermediaries to the transaction. As a result, the end-user customer has to pay substantial charges to view the content. It affects the bottom lines of the TV producing companies. There is a need to change this system of distribution and usher in the sense of transparency to the entire proceedings.
A revolutionary change
Keeping these points in mind, Germany’s leading knowledge TV broadcaster, Welt der Wunder TV is developing a blockchain-driven licensing, trading, and distribution platform for high-quality video content for international broadcasting, Video on Demand, and online video publishing. This Company has partnered with SWISS TXT to develop the technology behind the video asset management system. There is a working arrangement with Swisscom, a major telecommunications provider in Switzerland.
The reasoning behind the change
International broadcasting entails dealing with a variety of contracts and legal cultures. It is a tiresome and complicated process. However, things would become straightforward if there were to be mutually agreeable contracts. Blockchain technology makes this possible.
The Blockchain Connection
The Blockchain technology allows the producer to input in the platform by adding relevant parameters and durations in the programme they want to sell. The technology enables the configuration of a contract at the back end that when married to the content becomes more comfortable for the buyer to see the content and the agreement. The contract configurator will take care of the standards used in the market. It has provisions for improvising and including new standards and demands as they come up in due course.
The platform addresses the principal issue of eliminating the intermediaries from the scene as it brings the buyer and seller together thereby saving a lot of expenses in the bargain. The smart contracts ensure the safety of the content making it impossible to hack into the system. It does so by bringing together the chains of data holding the relevant information in a decentralized manner and sharing it in the community. It also ensures transparency in the dealings.
For example, you can incorporate certain specifications like payment structure, delivery date, number of broadcasts, and license periods, and so on in the license agreements. On fulfilling the conditions, the smart contracts will execute automatically. In other words, a smart contract is a deal that executes itself.
Data Management
Welt der Wunder TV is a content producer. Hence, they have input more than 30,000 hours of programming into the content. You have other networks seeking to be part of the platform with their libraries. The jurisdiction is a critical aspect. There has to be a sense of agreement to ensure fair play. The platform ensures that it prevents conflicts as the contract is in the blockchain. It executes only when there is a consensus on the terms and conditions.
Initial Coin Offering
When you have the Blockchain technology in the picture, you cannot simply ignore the ICO. Welt der Wunder TV is coming up with a special cryptocurrency option known as the MILC token. The Company is not targeting standard investors in this ICO. They are in touch with the Bitcoin millionaires explaining the purpose of the platform and what they intend to do with the money.
The MILC token has a professional function in the sense that the money you invest goes directly to the producer of the content. The in-out nature of the exchange ensures that the money has the same value all the time. At present, there are no avenues to speculate. The Company plans to address this issue at a later stage depending on the rising value of the token.
Privacy issues
The platform addresses the concern of privacy. It is because the user decides whether the contract remains transparent or not. The platform does not have any role to play in this decision. The Company plans to set up a layer on top of channels like YouTube and Facebook with an idea to combine user-generated video with a smart contract. The content producer can decide whether to offer the content free or charge per view.
Final Note
This content trading platform aims at revolutionizing the international TV content broadcasting industry.
To find out more, visit https://www.milc.global/
Read the white paper here.
Media Contact
Name: Hendrik Hey
Email: hendrik@milc.global
TG Group: https://t.me/wdw_milc_en
Website: www.milc.global
