X Motion Pictures (XMP) has today announced a partnership with CopyrightBank to register its films on the NEM blockchain. X Motion Picture (XMP) is a film and creative content management platform. While CopyrightBank is a copyright registration and verification arrangement platform.
Furthermore, The step was taken to empower movie producers and videographers to enlist and record the copyright of their unique work at the blockchain. Let’s take a look at XMP, CopyrightBank and this crucial step.
What is X Motion Pictures (XMP)?
X Motion Pictures digitizes the tedious process of managing contracts (through third parties), providing communication, administrative tools, and accounting. Furthermore, This effectively increases the efficiency of the film business operations. Hence, XMP becomes the platform for any creative content producer, whether it is a feature film, a documentary, or even a digital video.
What is CopyrightBank?
NEM blockchain’s revolutionary database technology simplifies the accounting, asset tracking and record keeping in an enterprise. CopyrightBank uses NEM blockchain to manage digital assets and their management paperwork.
Digital assets include digital works is intellectual properties such as music, videos, films, books, and even software. A timestamp and fingerprint is attached to the work and is registered on the NEM distributed ledger blockchain, as an evidence of the copyright protection.
How does their partnership help?
It’s pretty vivid, how it helps. The smart contract and content manager XMP partners with the copyright manager CopyrightBank, to give full control in the hands of content producers. It provides direct access of producers to their consumers. Also, it immensely helps the independent creative content producer to manage, and most noteworthily protect their copyrights.
“CopyrightBank’s partnership with XMP will deliver a 21st-century copyright solution to the filmmaking industry. It is an innovation that is long overdue.” David Oh, CEO, and founder of CopyrightBank said.