9 Aug, 2021

French Film Producer Recommends Blockchain In Cinema

French movie producer, Dominique Boutonnat, has submitted a report of recommendations to the National Centre for Cinematography (CNC). The report emphasizes on the need for blockchain technology.

Boutonnat opined that the field of film making is beset with problems that involve  producers, rights holders, and others constantly forgoing previously-made bargains, due to which, balance of power is skewed.

the recommendation that the film producer recommended is, redesigning the Cinema and Audiovisual Register (RCA) around blockchain technology. The entirety of the RCA should be moved to a new platform, he argues. This would enable faster processing times, a more modernized database, and would guarantee the compiled data’s integrity.

Boutonnat further recommended, “The taxes collected on theater admissions be done on-chain. These receipts are often poorly managed, and can often distort real viewership numbers. Blockchain technology would also allow these numbers to be collected in real-time — something that is desperately needed in this sector.”

In April this year, a leading French bank Societe Generale issued the first covered bond vehicle worth 100 million euros as a security token on the Ethereum blockchain. The home financing bonds ” or “OFH” tokens have been rated AAA by Moody’s and Fitch and have been fully subscribed by Societe Generale.

Last year, Air France-KLM started exploring the use of blockchain technology in travel space to improve its customer experience, cut cost for flyers and also increase in profits for suppliers by cutting out middlemen from the process.

At the time, Sonia Barrière, EVP Strategy and Innovation at Air France-KLM said, “We are proud to be one of the first airline groups to join Winding Tree to develop Blockchain technology. Air France-KLM is constantly creating the future of travel and devising solutions to make the travel experience easier and more personalized. With Blockchain technology, we aim to revolutionize exchanges within the travel industry for our customers, companies and start-ups.”