The main challenges to overthrow regarding the Supply Chain of TV and Film digital content
Vuulr is seeking to provide humongous advances regarding the Supply Chain. To make this possible, the initiative is planning to integrate the blockchain to the processes followed in the industry. This action represents a massive challenge as it’s not only about creating another marketplace (although that’s one of the cores of the Vuulrs’ business model).
Happening now! Vuulr's COO @benheyhoeflint on how #Blockchain is transforming the entertainment industry – at the @Blockchain_Expo
in #London. Also on the panel is @NickAyton @lafrancafabio @Playkey_EN pic.twitter.com/luIQmop6eN
— Vuulr (@Vuulr_Official) April 18, 2018
However, by integrating the blockchain to the processes of the industry the company is not just adding the option of paying with cryptos, it is in fact, transforming the TV and Film digital supply chain industry by changing the methods from one completely manual (PDF and spreadsheets) to another fully-digitalized. As a result, what’s under creation here is something way beyond just crypto business. Let’s see what it is about:
The complexity of the Supply Chain
It results imperative to mention that the term “Supply Chain” doesn’t refer to physical goods moved from one party to another. Instead, it refers to the end-to-end digitized supply chain of content.
In this matter, the three fundamental ingredients of the Vuulr “Supply Chain” are the content identifier, the content metadata, and the content Avails or Rights. The three of these, actually form what the company established as the “Vuulr’s Foundation Framework”.
For now, these are the core focus off Vuulr, but once consolidated the bases of this the company will aim to expand and adapt some of the most outstanding components of the MovieLabs Digital Distribution Framework. Some of these components are:
- Media Manifest
- Content Ratings
- Extras and Media Interactivity
The company envisions as such, to complement and mix both the Foundation Framework and the MovieLabs Digital Distribution Framework in the future, as well as to create the most functional relationship with some of the best in the industry.
As the CEO himself, Ian Mackee stated: “We are delighted to be collaborating with such industry groups as MovieLabs, EMA (Entertainment Merchant’s Association) and EIDR (Entertainment ID Registry) in realizing this joint vision. On the 9th of January this year, Ian and I attended the EMA Digital Forum @ CES in the United States, where we jointly announced the establishment of EMA’s first international arm, “EMA Asia”, to be operated by Vuulr.
The actioning moment of the blockchain
It has been established that the blockchain is the best alternative for the Foundation Framework of Vuulr. But what is precisely the reasoning behind such asseverations?
As a matter of fact, the whole industry would have a much better evolution if exploitation would be made in regards to the open, distributed, and decentralized applications that the blockchain technology offers. The benefits in this scenario would include aspects such as:
The content would be available for everybody to use freely, none organization would control it, and the same way, access constraints would be codified and known for everyone. Additionally, all the information would be unalterable, only those who have the permission would be able to modify data.
Additionally, these benefits would transform the pillars of the Vuulr “Supply Chain” as it is shown following:
A TV show or movie should have a unique identifier, and that identifier once created should not be changed or transformed. In this matter, the EIDR has been working already on a standard to maintain a centralized registry, and in this particular case, Vuulr has decided to partner with them to set up the change both organizations envision.
Furthermore, Vuulr is going to create an interface to link the EIDR registry on the blockchain, taking the Entertainment Identifier Registry to a whole new level.
Metadata is one of the works currently are being more inefficiently treated by the industry. These screen guides are usually delivered in just one language, and presented in formats such as PDF or spreadsheets.
Like this, very often metadata is replicated over and over by plenty of Broadcasters & OTTs globally as there is not a mechanism for sharing or trading the metadata information.
Vuulr sees a potential opportunity for the industry in this are, and for that plans to build this metadata standard on the blockchain.
Content Rights / Avails
The last envisioning point of Vuulr is to also bring to the blockchain the element of Avails. Regarding this fact, the company has stated: “Let’s explore doing just that for a moment. What if we could put this information on the blockchain, but securely, allowing only those authorized to query? (e.g., the buyer and seller)”
With all of the above, there are no doubts that Vuulr is definitely looking to transform the industry and replace it with a more functional and adapted-to-the-moment one. As we can see, with all the developments and partnerships the company has managed to create, they surely on its way.