Zach LeBeau, S-DTV’s CEO, states in the release:
The development of smart contracts, particularly for entertainment rights management, is an ideal use case for blockchain technology. S-DTV will address today’s lack of transparency and fundamentally change the prominence of creative accounting in the entertainment industry, with a particular focus on benefiting independent productions. Our rights management platform will empower creators by giving them back control over their creative output.
Through this platform, the database will be able to track those connected to the film or television series, such as actors, writers, and investors, for revenue and royalty purposes. This database promotes transparency within the creative world every time content is viewed by giving everyone involved their fair share.
This revolutionary smart contract gives the artists control of their content. They will have a perfect view of who is receiving royalties of their work for every download or viewing.
This is not the first time ConsenSys have invested in a transparent creative rights platform. The venture production studio invested in Ujo Music, a live prototype that automatically distributes payments to contributors per download. Ujo Music launched with “Tiny Human”, a song by Grammy award-winning artist Imogen Heap.
S-DTV is currently developing its first series called “Singular”, an epic Sci-Fi drama about the human race’s quest towards The Singularity. The tale takes place between 2021-2045 C.E. as each character from all around the whole leads to the event when “humans achieve a ‘superintelligence’”.
Production is set to start in October 2016 and it is slated to be released in June 2017.