Welt der Wunder TV, a top TV operator in Germany and several other countries, has emerged as a trusted brand in producing, marketing and broadcasting high-quality video content.
Possessing a sound experiential acumen in video licensing and the challenges faced by the industry, Welt der Wunder TV has come up with a disruptive idea to standardize the international license trading sector of videos for international broadcasting, online video publishing, and VOD.
A pilot of the full-fledged project will offer blockchain-managed-license to Welt der Wunder TV and its content providers and publishers. The future target of the project is to develop a transparent marketplace for purchasers and sellers where they can directly conduct the business. It will be trustless ecosystem which will significantly remove the pricing challenges with Smart Contracts.
MILC is packaged with advantages for both purchasers and sellers. The revolutionary Blockchain distribution platform for Video content will use MILC Smart contracts that will create a standard of licensing and automated execution that is highly missing in the current space.
The MILC blockchain platform will remove the requirement of intermediaries who inflate the prices of video content without adding any value to it. This leads to overpricing of the video and both produce and purchasers suffer.
The MILC blockchain application will help producers standardize the usage periods e.g. 2 year or 3 year broadcast along with the individual negotiations due to the specific requirement of the purchaser.
A video may be made available to use for multiple purchasers or exclusively to a single purchaser. The MILC blockchain application is going to facilitate the execution of these contracts of exclusivity and non-exclusivity rights.
A purchaser needs to decide whether he will be using the video content for TV channel broadcast, VOD or IPTV. The MILC blockchain application allows the producer to pre-define what kind of usages are allowed on the video. The platform will also facilitate the purchase of partial clips and that would be part of an individual negotiation.
The price of a video content is effectively driven by the frequency of broadcast it has gone through. The MILC blockchain will keep the frequency of broadcast updated in real time making sure the purchases pay as per the cycle of broadcast always.
MILC blockchain is focused to revolutionize the video content industry as with the advent of the marketplace it will eliminate around 30% to 50% of sales commission pocketed by intermediaries due to lack of standardization in licensing. The MILC blockchain offers a single platform to get the overview of the market so that the producers do not end up over or under pricing their videos.
The MILC platform is driven by two main components.
With a cloud-based video database, video licensing will be conducted as a smart contract for transparency and security. Video storage and distribution facilities are managed with the collaboration of Welt der Wunder and SWISS TXT. It is a stable, functional and high-performance video content platform that is operational right now.
Along with Swisscom, MILC project will offer a smooth and secure financial platform. Swisscom blockchain will maintain the blockchain and execute the Smart Contracts. All the contracts will be processed over the blockchain.
The objective of the MILC is to add value to the existing video content distribution industry that will incentivize the trade in MILC tokens.
To find out more, visit https://www.milc.global/
Read the white paper here.
Name: Hendrik Hey
TG Group: https://t.me/wdw_milc_en
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