A top executive at the blockchain specialist SingularDTV said the company is “very optimistic” it will gain regulatory approval to enable crowdfunding through its platform. Letting members of the company’s online community directly invest in film, TV and music projects would close a key loop, said Kim Jackson, co-founder and head of entertainment for the company.
During a keynote session at a New York conference sponsored by the Media & Entertainment Services Alliance, she said crowdfunding would complement tools for producing, distributing and tracking projects. The whole enterprise, she said, can be managed with new technology that offers far greater ease and transparency than with any current method, though regulators have expressed some wariness.
“We’re working with SEC lawyers and working very closely with regulators to be able to show them the functionality of this application,” Jackson said. “It will really be able to be a transparent ledger, so there really isn’t anything to fear or anything that can be manipulated.
I think once regulators really see the elegance of the technology they will be able to be less fearful.” While ICOs — “initial coin offerings” — have become increasingly popular, Jackson said they are “giving blockchain a bad name.” Intended as fundraising tools trading future crypto-coins in exchange for crypto-currencies of immediate, liquid value, ICOs have raised concerns that they are potentially fraudulent schemes cloaked by technology. SingularDTV isn’t focused on ICOs but instead is among a handful of companies looking to produce and distribute content using blockchain technology, which harnesses digital currencies but more broadly aims to improve online transparency.
Based in Switzerland and New York, the company has developed a slate of film titles, which it will start rolling out in the coming months. The firm’s slate, first announced late last year, includes Alex Winter’s feature documentary Trust Machine: The Story of Blockchain, and The Happy Worker, directed by Duwayne Dunham (Homeward Bound: The Incredible Journey). Read more from deadline.com…
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