Now that the Cannes Film Festival is in its’ second day, a lot of attention is directed towards the French film industry. A contributing factor to this rise in focus towards French cinema is also a recent recommendations report submitted to the National Centre for Cinematography (CNC) by director Dominique Boutonnat, accentuating heavily on Blockchain technology.
While the film industry is not one where Blockchain technology has been introduced extensively, according to Mr Boutonnat, it might be a solution for many problems in the sector.
One of the usual disputes that arise in filmmaking is the value of each production, often questioned by various parties involved in the project like producers, right holders. Most of the conflicts occur because of negotiations that happened before the filming of a movie.
Mr Boutonnat suggested several uses of Blockchain technology which can improve the communication between these different parties involved in the making of a movie.
- Cinema and Audiovisual Register (RCA)
Currently, the RCA is lagging in terms of technological development, and Blockchain can introduce an innovative way to record and store information, which will boost the services provided by this organisation. Most importantly, information processing will happen faster, which will significantly ease the work of filmmakers.
- Blockchain-based tax collection
For Mr Boutonnat, the ultimate way to collect admission taxes from teachers and cinemas would be through a blockchain-based system. As such systems are infinitely more secure than traditional sales methods, such a shift will bring actual viewership data and will allow for a more accurate calculation of a film’s success.
- Revenue distribution
Nowadays, there is a huge diversity among media channels and streaming platforms, which makes the task of revenue collection and distribution extremely complicated. Blockchain can automate some of the processes involved in revenue distribution, thus allowing the whole industry to function better.
These recommendations are all aimed at improving old-fashioned data processes and payment collection methods. While Blockchain in the film industry is still a new concept, the benefits are undeniable. Smart contracts can bring automation and trust to the operations of the CNC, which is Mr Boutonnat’s ultimate goal with the submission of this recommendations report.