Cannes Film Festival Shines Light on Blockchain

Cannes Film Festival Shines Light on Blockchain

The 72nd annual Cannes Film Festival in France this week has seen the topic of blockchain taking centre stage in an event designed not to just celebrate cinema but to contribute towards its development.

Blockchain Film Financing Platform #HUBIIFILM Kicks-Off In Cannes Film Festival With Event And First Project Announcement #Cannes @hubiinetwork #Ethereum #Blockchain https://t.co/fJeq5S85qN

— (Film) Fan Carpet (@thefancarpet) May 17, 2018

Although Hubii led the charge of the blockchain brigade with their innovative film fundraising platform, a number of other entities are also lobbying for a greater role of the technology in the industry.

New Cinematic Code

A programme of roundtable discussions organised by France’s Centre of Cinema (CNC) accompanies the premier film event with a slot allocated to debate whether blockchain can shape a new cinematic code of conduct.

One prominent speaker at the roundtable events will be the producer Dominique Boutonnat whose filmography includes the highly regarded The Intouchables. Boutonnat has recently submitted a 139 page report to the CNC recommending blockchain be employed in three main areas to reduce the frequent disputes that occur between various stakeholders during the movie-making process.

According to Boutonnat, the Cinema and Audiovisual Register (RCA) should be moved to a blockchain-based platform in order to guarantee the data’s integrity and permit faster processing times.

He also recommends taxes collected on theatre admissions be recorded on-chain to allow for real-time data collection and prevent poorly managed and distorted viewership figures.

Finally, he suggests that blockchain be used to balance the bargaining power of the media industry to ensure revenues are distributed fairly between companies, platforms, cast, directors, producers and other crew members.

Boutonnat’s report follows a growing chorus from those within French cinema to modernise through decentralised technology.