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”.


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
Credits, Alibaba Cloud Launch Blockchain Solutions to Solve Logistics Issues
Alibaba Cloud and the Credits platform have collaborated to launch blockchain-based solutions for th...

December 13, 2019

Japanese Regulators Approve Lastroots Crypto Exchange
Two years after Japanese lawmakers legalized cryptocurrency as a means of payment, regulators have a...

December 13, 2019

Central Bank of Sri Lanka to Build Blockchain-Powered KYC System
The Central Bank of Sri Lanka has disclosed it is looking for a blockchain company to develop a know...

December 12, 2019

WWF & UnionBank to Develop Blockchain for Philippine Anglers
The World Wide Fund for Nature (WWF) Philippines and UnionBank are working together to develop a blo...

December 12, 2019

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