The entertainment and media industry as a whole will benefit from blockchain technology innovative features that encrypts data in a transparent and secure distributed ledger allowing media industry participants to interact without middlemen. This technology will be beneficial in the media industry through optimizing media advertisement, media distribution, content creation and verification.
( Video Source: YouTube - MILC blockchain project - Welt der Wunder )
Media companies such as Welt der Wunder Tv are joining the blockchain revolution towards enabling secure rights payments in a blockchain managed licensing, trading and sales platform. This technology will optimize media operations allowing improved loyalty payments through a simplified identification of media content owners.
Welt der Wunder is based in Germany, which is the second largest TV market in the world, through partnership with global leading content providers, Tv stations and media platform, Welt der Wunder will re-engineer its processes through smart contracts and distributed ledger technology.
Micro Licensing Coin (MILC).
Welt der Wunder will engineer its processes by creating its own blockchain that is customized towards managed licensing of media contents, trading and sales of media contents allowing a seamless distribution though a decentralized environment of VOD and international broadcasting.
The blockchain is tokenized with its own tokens (MILC) Micro Licensing Coin that will fuel the operations of the platform, MILC Tokens will be used to processes smart contracts and will also be used as medium of exchange for Media services and contents on the blockchain network.
Welt Der Wunder platform will leverage the power of distributed ledger technology to record and store media contents that will be available for trading through smart contracts to consumers, this will make it easier for content owners to monetize their media contents and market them on a vast market. The photo below illustrates more on the open platform.
(Photo: Welt der Wunder Video storage and distribution platform).
Welt der Wunder Business model.
Through the use of blockchain technology Welt der Wunder distribution process will allow content owners and producers benefit from the businesses model that allows the participants to operate in a process that promotes value and gets rid of intermediaries.
The use of distributed ledger technology will allow a transparent process, this process will allow the industry save 40-70% of advertisement revenue that is lost to middlemen for substandard services. Smart contracts will allow operations on the Welt der Wunder Platform to efficiently process media contracts that processes payments automatically and transparency allowing content owners and buyers trade in an optimized modern media platform. In the diagram below Welt der Wunder illustrates the business model of its platform.
Photo: Welt der Wunder Business model process.
MILC business model integration with blockchain technology.
Welt der Wunder Business model integrates with blockchain technology in a seamless process that optimizes the platform operations, the main features of blockchain technology used on the platform are smart contracts and distributed ledger technology. Smart contracts will allow automatic processing of transactions on the Welt der Wunder Platform in a decentralized environment, these transactions and media contents will be recorded on the platform distributed ledger technology powered by blockchain allowing a transparent yet secure payment structure and structured digital market place.
Welt der Wunder business model will benefit media participants by securing and improved transparency when it comes to payments, monetization of media contents and advertisement contracts enforcement. This business model value quality services and media contents an operation that promotes quality and rewards it. In the diagram below the interaction of the Welt der Wunder blockchain and its blockchain are clearly illustrated.
Photo: Welt der Wunder business model interaction with the MILC Blockchain.
Welt der Wunder Solutions to reengineer the media value chain.
Through the use of blockchain technology Welt der Wunder will solve the issue of copyrights and infringements which is rampant in the media industry, through its licensing optimized processes, Welt der Wunder will curb the piracy processes promoting legal distribution of media contents, this process is illustrated in the chart below.
(Photo: distribution platform schematic functions.)
Welt der Wunder distribution process will empower media content owners allowing them to monetize their contents giving no room for pirates and promoting legally purchased contents allowing payments to be efficient and channeled to legal media content owners in a process illustrated in the chart below.
(Photo: MILC Platform functions and benefits)
Conclusions.
Blockchain is a game changer in the media industry, Welt der Wunder is launching a blockchain platform that will benefit media industry players through a collaboration effort with media companies, the distribution process will enhance media industry operations, reporting and attributions. For more information about Welt der Wunder project and participation, please check the platform website, whitepaper and social media pages below:
Blog entry photos credited to MILC Official Website
References.
Website: https://www.milc.global/
WhitePaper: https://welt-der-wunder.s3.eu-central-1.amazonaws.com/ico/pdfs/ICO_WhitePaper_WdW_EN.pdf?cache=7.
Telegram: https://t.me/wdw_milc_en.
Twitter: https://twitter.com/MicroLicCoin.
Facebook: https://www.facebook.com/MIcroLicensingCoin/.
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2432428.0.
Author: jamesndungu1
BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049
