Cannes Film Festival Funds Documentary On Blockchain Technology

Slate Entertainment Group (SEG), a Blockchain media organization, set up by Binge Media attended Cannes Film Festival 2018 this May in order to accelerate the process of the adoption of blockchain technology and their SLX tokens.

The company wanted to increase awareness about the tokens ability to disrupt the entertainment industry and make it a universal digital currency that can be used by all platform users. At the Cannes, Slate acquired complete rights to video stream the upcoming crypto documentary “Beyond Bitcoin.”

SEG aims to develop decentralized platform SLATE power-driven by their SLX utility token. Their VOD (video on demand) service, based on blockchain technology will be an entertainment utility protocol. This will be linked to a multi-layer network which includes BVOD (blockchain video-on-demand), Slatix which will be an electronic ticketing app, and the SLX utility token that gives access to premium entertainment.

The decentralized ecosystem aims to provide fast, cheap and high-definition media access to consumers across the globe. The token can provide access to exclusive entertainment services on the Slate platform for content creators and service providers.

SLATIX, which is SEG’s exclusive blockchain based tokenized ticketing system, is the decentralized solution that is capable of preventing fraudulent ticket sales. Since blockchain technology is designed to track, verify, and store user information, tickets bought with SLX tokens can be transferred immediately, but cannot be faked.

The press release made available to the media by the company stated that small and average sized firms can benefit from Slatix’s low setup and operating costs.

“This will be the first time in industry history that a film festival will accept the digital currency as well as traditional forms of payment.

Token Sale

Slate’s public token presale which was launched in May this year will be kept open until June 9, 2018.

Hong Kong-based HitBTC, which is one of the leading 10 cryptocurrency exchanges globally will host SLX with trading pairs against Bitcoin (BTC) and Tether (USDT).

Do you think blockchain technology can help video-on-demand streaming in any way? Let us know by typing your thoughts in the comments box below.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Smitha Nambiar is a highly experienced writer who believes in heavy research. She keeps looking for new updates related to cryptocurrency and helps her readers know about it.

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