CREATIVITY MEDIA LEVERAGES BLOCKCHAIN IN MEDIA, REVOLUTIONIZING FILM FINANCING
Overview
With the use of blockchain technology, Creativity Media has created a new way of funding creative projects. For their independent documentary, Footprint in Iceage , they decided to use their own crypto token, Creative Circulation (CRCL), as a way to supplement the reduced cash rate for production personnel.
This new approach to film financing allows investors to participate in the funding of film projects through the purchase of CRCL tokens, which represent a share in the profits of the project. This not only provides an innovative way for filmmakers to raise funds, but also creates a more democratized approach to film financing.
By using blockchain technology, all transactions are secure and transparent, ensuring that all parties involved in the financing process are protected. This technology also allows filmmakers to receive direct feedback from investors and fans, which can be used to make adjustments to the project and ensure that it resonates with the target audience.
Creativity Media's use of blockchain technology in film financing is a groundbreaking innovation in the media and entertainment industry. It has the potential to transform the way creative projects are funded and produced, giving filmmakers and investors more control over the process and enabling a wider range of projects to be made.
Requirements
The project requirement for jaiinfoway was to develop a middleware service based on blockchain technology that would enable the exchange of fiat and cryptocurrencies for Creative Circulation (CRCL) tokens, while also providing data to a web or mobile application.
The middleware service would bring together various blockchain-based solutions and provide a unified interface, making it more scalable and user-friendly. This integration would allow for easy exchange of different cryptocurrencies, making it easier for users to trade and invest in CRCL.
In addition to the middleware service, jaiinfoway’s custom software also incorporated staking ability for CRCL token holders. Staking allows users to lease their crypto holdings to a blockchain network to help validate transactions, resulting in earning interest as a reward. This would provide added benefits to CRCL holders, creating an incentive to hold onto the token and earn passive income.
Solutions
jaiinfoway's software also included a user-friendly interface for users to easily buy and sell CRCL, check their account balance and transaction history. The interface was designed to ensure a smooth user experience, promoting ease of use and efficiency.
To ensure maximum security, jaiinfoway implemented a multi-layered security protocol, incorporating features such as 2-factor authentication, encryption and secure password storage. They also conducted thorough testing and debugging to ensure the system was free from vulnerabilities and errors.
The result was a reliable and efficient blockchain-based middleware service that allowed for seamless exchange of fiat and cryptocurrencies for CRCL, as well as staking and payment management capabilities. CREATIVITY MEDIA was able to successfully launch the Footprints of Kemet documentary using their innovative approach to funding and leveraging blockchain technology.
In addition to the middleware service, jaiinfoway's custom software also incorporated staking ability for CRCL token holders. Staking allows users to lease their crypto holdings to a blockchain network to help validate transactions, resulting in earning interest as a reward. This would provide added benefits to CRCL holders, creating an incentive to hold onto the token and earn passive income.
Results
Using technology to facilitate communication and outreach can be a powerful tool in today's digital age. Custom software can be tailored to specific needs and requirements, which can be especially useful in a project like Lukese's that involves cryptocurrency and blockchain technology.
jaiinfoway's development of blockchain middleware and custom software has enabled greater accessibility and usability for investors looking to exchange fiat and cryptocurrencies for CRCL tokens. This technology also provides added benefits to CRCL holders through staking and ensures energy efficiency without compromising on security.
Industry - : Blockchain Technology
Technology Leveraged
- Java 8
- Apache Tomcat 9
- Spring Boot 2.2.1
- Spring Security
- TRON Java SDK
- Postman