Why jumping in Blockchain Technology?

Developing Project Filmgrid using blockchain technology is the logical move to make, the decentralized nature of this new technology is a perfect fit for the principles behind Filmgrid.

Blockchain Great Benefits

Blockchain technology provides a spectrum of revolutionary benefits. When joined, these values of security, decentralization, privacy and transparency offer the most profound quality of a trustless model, that does not need trust to safely interact and transact.

Eradicate Intermediaries

Probably the biggest issue in movie business, the non-creative interference. In the blockchain there is no need for them to exist.

Assures Transparency

No more distributor's shady bookkeeping schemes, all transactions are more transparent and more secure than ever before.

Process Automation

The processes happen within the blockchain without human intervention or censorship, guaranteeing their proper execution.

Blockchain Architecture

During the Start-up period the DApp will live in the Ethereum Network, in the meanwhile, we will be developing Filmgrid Blockchain, an Ethereum fork changing the consensus algorithm Proof Of Work (PoW) for the consensus algorithm Proof of Elapsed Time (PoET), turning it into a Permissioned Blockchain, disposing the need for miners.

Features
Architecture

Every device is a potential source of computing power.

Low power consumption while users are watching a movie.

Server power for off-chain functions and interconnecions.

Built in KYC module differentiating the type of user.

SMART CONTRACTS

Self-executing Contracts

Funds Vault

Its function is to secure the Production Fund, only dispersed after the results of the ballot indicates so.

Pitchboard Ballot

Assures a trustworthy popular election when the users choose the projects to be funded.

Budget Dispersal

Payments will be delivered only according to the production plan set by the Creative Team.

Revenue Sharing

Income will automatically be distributed according to the agreement made between the Creative Team.

Filmpass Token

To add value to the Filmgrid experience, the user gets the opportunity to buy the scoop on the film during the Premiere in a limited edition with exclusive material, using the platform's utility token Filmpass (FILM) as a payment currency. Transactions from the Screening and Home Ticket will be processed at the back end of the system with the use of the token as well, accepting a variety of payment methods.

FILM is an ERC20 standard token from the Ethereum Network, acting as a payment method for the transactions generated during the MVP Dapp phase. The tokens, along with the all transactions generated by that time, will migrate to the Filmgrid Network once built. The FILM contract has a capped token amount of:

1 BILLION
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