Blockchain has gone Hollywood! That’s what an independent
filmmaker and a blockchain expert told the audience at a recent Morris Tech
Henning Morales, a filmmaker, author and motivational
speaker, and Lindsley Medlin, founder of NJ
Blockchain Center (Raritan), discussed the impact of blockchain technology
on the movie industry at the Morris Tech event on September 11, in Chatham. They
told the audience that blockchain could transform the way movies are made,
distributed, marketed and seen.
Blockchain is defined as a distributed ledger that puts transactions
into groups (blocks) that are linked together, using cryptography to secure
them. It’s commonly regarded as the underlying technology of the highly
volatile cryptocurrency market, but it has unlimited applications for many industries,
Morales, who showed the audience an unreleased movie short
depicting his life as a troubled teenager growing up in northern New Jersey,
plans to use blockchain technology in his filmmaking. “Our intention is to put everything on
blockchain to maximize the benefits,” he said.
Using blockchain will improve the tracking of money
generated by the viewers watching his flicks, Morales said. This will play a
key role in the films’ revenue-sharing model, which would be used to compensate
social-media influencers for their part in promoting the movies to their large
“tribes” of followers.
Morales’ planned films will be based on real-life situations
with inspirational messages. “We want to tell true stories and get away from
the fantasy [movies] that young people are being exposed to.”
The film industry is ideally suited for blockchain, as this
business is viewed as the least transparent and most reliant on middlemen in
the entertainment world, he said.
Blockchain will enable investors, filmmakers, talent and
others to get a clearer view of…