It is not a new concept that movie makers continually look for a better platform to save them from hackers and confidential information regarding the project. Here, bitcoin came as a silver lining as this virtual currency is decentralized, which is nearly impossible to break. There is no government or any central bank intervention as it is regulated by its developers all around the globe.
It is not new that any industry adopted a blockchain mechanism to enhance and secure its functioning. Previously, the tourism and trade sectors started projects backed by Peer-to-Peer technology. However, the movie industry is not using this newly developed advanced technology. However, it seems that after some severe breaches in the movie content, moviemakers must introduce this vast technology into their business. So, let us take a brief look at this entire scenario. If you plan to trade Bitcoin, consider using a reliable trading platform like .
Interlink between Bitcoin and the movie industry
This center technology lures the filming industry to adopt it to run smoothly and protect their privacy. However, an eye-grabbing feature of Bitcoin is that this is controlled or regulated by any government syndicate. Therefore, the blockchain network can only save some severe issues like leakage of the movie’s content and other crucial information about a project.
Moreover, funding is also a vital component that attracts movie producers from all around the world. As we all know, funding is crucial for a movie to fulfill a project’s requirements and give a quality film to its viewers. Bitcoin enables production to cut the entire Middleman and save a handsome amount of funds, which production can use in other sectors like advertising and marketing their film. Moreover, suppose filming cooperation is dealing in Bitcoin. In that case, they may make a profit either way, as the face value of Bitcoin has been continuously rising for the past five years, and the return on investment is around 10%, which is fantastic.
Bitcoin makes it very feasible to raise money compared to the share market, as in the share market process, distributing shares is a very complex procedure.
After that, generous dividend on the shares is another nightmare for production, but one can receive the donation directly without paperwork as we talk about Bitcoin. One can just be sent or receive payment through E-Wallets and a share in profit without deduction of tax and tariff. So this will help to retain more disposal funds for both parties.
A Big Hand in Advertising Films
Advertising is very much needed for a good box office collection worldwide. More than 19 million users use Bitcoin, which will be a great platform for making their movies famous. At the same time, fast dividend payments to the users will lure many flocks at the end of the day. Advertisement costs will also be nominal as companies must pay large corporations like MGM Grand to put their films on international charts.
Warner Bros’ upcoming DC movies are collaborating with Bitcoin. The producers say that this technology will save them funds to buy patents of various characters, which will be there in upcoming years.
Prevention from Piracy
Privacy of the film content is one of a movie’s significant issues. Recently Spiderman no way home became prey to this as hackers revealed the central storyline and characters of the film. These issues can be there as blockchain technology is complex and hard to break. Companies now can save as well organize their entire project through this platform.
All in all, bitcoin is the future currency; over time, more and more industries have accepted it. Bitcoin developers also provide unique offers to new filming companies to start their business with this currency. One school of thought says this blockchain technology is only meant for large corporations as the starting expense is undoubtedly high, but we must admit that every good thing comes after a cost. Under the influence of cryptocurrencies, the movie industry has an optimistic future.