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.
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
Its function is to secure the Production Fund, only dispersed after the results of the ballot indicates so.
Assures a trustworthy popular election when the users choose the projects to be funded.
Payments will be delivered only according to the production plan set by the Creative Team.
Income will automatically be distributed according to the agreement made between the Creative Team.
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: