Filmchain

[Music] so hello everyone thank you very much for coming here today I am Maria Angela and I am the co-founder of film chain my other better half is now in New York and she's sending best regards we are very lucky to also be working with Imperial College we are supported by innovate UK in the UK and we have developed for 18 months a project in partnership with Imperial College so I am sure that a lot of you consume contents and you're always kind of wondering if maybe the film's the TV series or even in kind of the videos that you're seeing online is this ever tracked and are the content creators ever paid this is the same problem in pretty much all of the creative industries in publishing in music Spotify was sued for you know tens and hundreds of millions or unpaid royalties and we essentially looked at how rope chain can can completely very much vector automatic efficient and transparent collection service for TV digital and and filth so this is the classic waterfalls on the stage I you know like this you can get more familiar on how the money trickles right from let's say when you make a payment 505 pounds on iTunes or you combine the 10s cinema tickets and essentially people right at the bottom generally the producer and you know the director and the people who work really hard on it but also the public funding the finance years they really have to wait for anything between 6 to 12 months to 18 months in order to get paid they have no reporting or they have records coming every 12 months the the accounting is incredibly opaque needless to mention everything is manual if the entire world is on the shoulders of of Excel spreadsheets and and what is the really great concerning is that there is no third party on highest solution for it so basically every stakeholder is is taking their own share and then trickles down the money to the people and under them so this is really concerning for content creators for for investors and to be honest even for audiences because you are be more incentivized to do pirates of a project knowing that that the content creator will never actually be paid so what we decided is to essentially create create automate the business logic through the smart contracts we are working developing an ethereal blockchain and we have we have graduated creative destruction lab in Toronto in with in partnership with University of Toronto as well and essentially we want to make sure that we gather consent from all of the stakeholders and then we put the set of instructions on on on smart contracts and we we make sure that basically the as a very convoluted legal contracts are translated in in a way that the payoff is made automatically and according to the legal contract at the same time for us it's very important to basically share information on demand so for example the reporting is happening in real time rather than six to twelve months people are able to verify the payment split and to create disputes to challenge transactions if they consider that that's not the right amount for them for us it is also very very important to look into the future so we have we have ownership tokens we want to make sure that ownership in any production is digitized and in the future we're looking at secondary markets where people are able to to trade to trade they're essentially to trade their their ownership in that film not so nuts to mention lies the privacy preserving mechanism are very very important to us so we're very thankful that that the protocol has also kind of open open our doors for us and we are we're looking at how we can put several proofs on on the public blockchain about how the set of instruction was was was executed properly that all the money coming into the account was was actually transferred to all of the stakeholders rather than film chain dragging the little Commission on on top and at the same time when when people are withdrawing funds that that transaction has been has been actually implemented so on on our end right now we're constantly growing the team were super excited about about any developers would like to join us and join our journey we have been already implementing this so we have a number of films that have been using us including Euro March the Council of Europe film fan Hamburg the London British Film Institute and a lot of a lot of established finest years who you would have thought that they will never try the an automatic system but they're all ready to make the leap of faith so I look forward to speaking to anyone who would like to join us super cool creative industry project thank you [Music]