New Alibaba Pictures Flick to have Rights Distributed Using Blockchain

Asia Blockchain Review
December 2, 2019

An upcoming film being released by a movie studio under Chinese mega-corporation Alibaba is to have its rights distributed via blockchain technology.

Alibaba Pictures has signed a Memorandum of Understanding (MoU) with blockchain technology firm Breaker, Yahoo Finance reported.

‘Striding into the Wind’ to be Tokenized and Distributed on a Blockchain

The agreement will see Breaker, originally SingularDTV, tokenizing rights to the film ‘Striding into the Wind’ for international distribution. The rights will be traded via blockchain using Breaker’s platform.

The novel approach to distribution was disclosed  to the public at the China Gold Rooster and Hundred Flowers Film Festival with an announcement issued on November 20.  As part of the announcement, Li Jie, Senior Vice President of Alibaba Pictures, elaborated on Alibaba’s continued interest in cinema, stating: 

“Why does Alibaba still choose to make films? Because the film industry has unparalleled influence. When we calculate the economic impact of the film industry, we should calculate huge benefits and influence that movies bring to society and the relevant economies.”   

Announcement Underlines China’s Changing View of Blockchain

Alibaba Pictures’ decision to harness blockchain comes as the Chinese government in recent weeks has indicated a changing view towards the technology. 

While the country has so far been strict on controlling the budding tech, its leaders have recently painted blockchain in a more positive light. President Xi Jinping recently remarked that “blockchain is vital for China’s future”.

Source: finance.yahoo.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Blockchain Enables Verification of COVID-19 Immunity
Given the virus is not going to disappear in a hurry and we are some time away from vaccinating the ...

November 21, 2020

Illicit Cryptocurrency Activity: A Concern
Market regulators such as SEC has accepted cryptocurrencies as a financial instrument and are consta...

November 20, 2020

IBM Using Blockchain to Help Businesses Reopen during COVID-19
IBM’s healthcare unit, IBM Watson recently announced that they will soon be launching an app to supp...

November 20, 2020

Canadian Pacific Railway Collaborates with TradeLens
Canadian Pacific Railway recently collaborated with TradeLens in a bid to improve its efficacy as an...

November 19, 2020

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us