Mo Alakiu Ajibola, Ambassador for @DECENTplatform in Africa To Put Nollywood on Blockchain
The meeting was at the Federal Palace Hotel and Casino on Victoria Island, Lagos, Nigeria.
Swiss-based tech company, DECENT is sponsoring Film Independent’s Directors Close-Up, a series featuring some of the most admired directors and films of the year.
The 17th annual series taking place Wednesday nights from February 7th – March 7th at The Landmark Theatre in West Los Angeles and offers filmmakers and film lovers a unique opportunity to hear directly from the best independent directors and their collaborators, as they discuss specific aspects of their craft in depth.
The independent filmmakers include Sean Baker (The Florida Project), Jonathan Dayton and Valerie Faris (Battle of the Sexes), Ava DuVernay (A Wrinkle in Time), Greta Gerwig (Lady Bird), Angela Robinson (Professor Marston and the Wonder Woman), Josh and Benny Safdie (Good Time), Michael Showalter (The Big Sick) and Chloé Zhao (The Rider).
Nigerian film industry employs more than 1 million people, second only to agriculture.
Nollywood produces 60 movies per week, second only to Bollywood.
Nollywood generates US$630 million annually for the Nigerian economy.
Nollywood contributed 2.3% to Nigeria’s Gross Domestic Product (GDP) in 2016. - PwC
The economic opportunities of Nollywood are more than what the cinemas, cable TV channels, OTT platforms and vendors of DVDs are currently offering in the film distribution chain.
The Blockchain Distribution platform is ready and Nollywood filmmakers will sell directly to all the millions of Blockchain wallet users in the world in the decentralised system for film distribution.
There are more than 24 million blockchain wallet users who have made over 100 million transactions so far.
The global media and content distribution industry is estimated to grow from US$1.7 trillion in 2016 to over US$2 trillion in 2019.
Over US$1.4 billion has been invested in blockchain technology in the last three years according to the World Economic Forum.
Matej Michalko, CEO and Cofounder of DECENT said blockchain will liberate everyone from unnecessary middleman controls, fees and manipulation by eliminating middleman constraints and censorship. The DECENT Network gives full control of digital content back to the people.
The DECENT Network which is also a distribution platform for academic institutions around the world would provide a safe, secure and accessible way to store and share educational content – including essays, reports, lectures and even whole text books.
Explained as an “innovative adaptation” of the DECENT Network is the addition of a social aspect where authors (content creators who share their digital work on the platform) will build a lifetime reputation, based on ratings from content consumers (users who purchase content on the platform), and which is stored via the blockchain.
Crypto Token DCT
DCT is the cryptocurrency of DECENT Network and the fuel that makes it run. Determined by the result of the ICO, a total of 73.29 million DCT tokens will be in circulation. And, following DECENT’s official launch, DCT will be obtainable in a number of ways.
One way to receive DCT is by individuals selling their own, authentic digital content to interested consumers directly on the DECENT platform. It can also be given as a reward for miners, creators of blocks in the blockchain, and seeders, distributors of digital content.
Cryptocurrency market exchanges will ultimately decide whether or not to list DCT. However, it understood on that score no official announcement can be made until after DECENT’s launch.
DECENT GO
The first application to be built over the top of DECENT Network’s blockchain platform, called DECENT GO, was also recently announced and touted by the firm as demonstrating some of the capabilities the network has to offer.
They boldly described it as a “Google Play-like Digital Marketplace built on top of the DECENT Blockchain Network, which allows content publishing and buying on a peer-to-peer principle.”
According the Slovak founders the premier application behind DECENT GO intends to showcase the advantages of the network’s blockchain-based content distribution platform and its “adaptability to act as the underlying technology supporting a new marketplace application.”
DECENT plans to build a hardware solution, plug & play smart TVs, that will run on DECENT Network.
DECENT has major offices in the US, UK and China and new offices will be opened in Africa, India and the Middle East.
brilliant. now decent & nollywood can finally break the piracy strangle hold on the industry so it can thrive
ReplyDeleteThat's the way forward for both #Nollywood and #Kannywood.
ReplyDelete