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Famed Hollywood movie producer Andrea Iervolino, who has backed films starring James Franco and Al Pacino among other well-known actors, is launching a blockchain startup called TaTaTu. The project will reward users for consuming and sharing content using crypto tokens.
TaTaTu’s Selling Proposition
The token’s website answers the “why” questions by highlighting six key benefits on its homepage:
- 30 of the world’s most well-known social media influencers are prepared to share their videos on the TaTaTu platform.
- Top companies in the entertainment industry are ready to provide over 10,000 hours of movie and television content for consumption on the platform.
- The blockchain allows for revenue sharing between producers and viewers in a completely transparent way.
- TatTaTu will only stream premium content that brands demand.
- TaTaTu gives the power back to the audience.
- A dedicated programmatic exchange and a group of industry experts will guarantee the highest CPM (cost per thousand views) rate available.
Many other projects in the Blockchain space are promising similar benefits through their own platforms. Perhaps lervolino’s unique advantage has little to do with technology and more to do with the relationships and strategic alliances he’s likely forming as a well-known producer connected to some of film’s biggest stars.
Data Monetization and Privacy Rights
Arguably five of the most powerful tech companies in the world, Alphabet (Google’s parent company), Amazon, Facebook, Apple, and Microsoft became global juggernauts because they all recognized one simple fact. As Jonathan Taplin, director emeritus of the USC Annenberg Innovation Lab says, “Data is clearly the new oil.”
Taplin goes on to say that Google currently holds 81% of the total market share first searching the web. Consider that with the fact that Standard Oil owned 79% of the American oil market before regulators stepped in and claimed violations of antitrust laws.
No matter how you slice it the bottom line is, data is digital gold and America’s biggest conglomerates own the vast majority of it.
That’s why having a company like Facebook breach the trust of over 87 million users in cahoots with Cambridge Analytica all to promote US President Donald Trump’s presidential campaign is a big deal. It shows that these big companies are powerful beyond measure based on the fact that they know everything about our likes and dislikes, attitudes and behaviors.
In Facebook’s case, the strength of its data is so powerful that CEO Mark Zuckerberg was summoned by the U.S. Senate to answer questions about the data breach in a hearing, earlier this year.
Facebook is now trying to make amends with its users by introducing a clear history button. The company is also running an ad campaign that in a strange bit of irony preaches a “make Facebook great again” kind of message.
Still, as much as Facebook and its fellow digital conglomerates are promising to secure data, they are still centralized, private businesses that will ultimately keep the bulk of the profits for themselves.
That’s why having a Hollywood movie producer come up with an idea like TaTaTu is not only fascinating but totally necessary.
Being able to pay for content one small bite-size at a time is the way of the future. The concept of micro-payments will allow consumers greater control over how they spend their money, and the smartest Blockchain projects of all will reward them for participating in the first place.
As well they should.
Jack Choros is a freelance writer with Blockchain Business News Network