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Ethereum Price Predicted to Climb in the Long Run as Buterin Explains Need for Higher Coin Values
Ethereum Price Predicted to Climb in the Long Run as Buterin Explains Need for Higher Coin Values

Blockchain-Powered Entertainment Ecosystem to Propel Independent Movie Producers in Japan

  • Alex Morris
    📰 News

    Independent film producers in Japan are stifled by the dead-end economy of this niche, but Blockchain poses as a solution

Blockchain-Powered Entertainment Ecosystem to Propel Independent Movie Producers in Japan
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According to Variety, Yuko Shiomaki, an independent Japanese film producer, spearheads a local unit of New York-based Blockchain company SingularDTV. Similarly to MovieCoin, SingularDTV is aiming to build the first entertainment platform that is powered by the disruptive technology

👉MUST READ Goodbye Spotify: There is New Blockchain-powered Speaker That Actually Rewards Artists

In search of local talent

Speaking of the recent foray into the Japanese market, Zach LeBeau, the CEO of SingularDTV, claims that the company has successfully expanded into the Hong Kong market, and Japan becomes their next “logical step”.

Shiomaki claims that they already have plenty of “fruitful” ideas about the further advancement of independent movies in Japan. She already has a couple of critically acclaimed movies to her name, including Sake-Bomb (2013), which won Outstanding Screenplay at the LAAPFF. As a former talent agent, she pledges to discover fresh faces that could potentially gain global recognition.

Reviving the independent movie market

According to Shiomaki, many independent film producers struggle today due to the lack of financing, but SingularDTV could tackle this issue. In a long run, there could be a completely decentralized entertainment industry.

SingularDTV, MovieCoin and other similar platforms give artists an ability to raise funds for creating content and distribute it with the help of a peer-to-peer network. On top of that, artists have the ability to manage their rights, revenues and royalties. Through the process of tokenization, anything can be divided into pieces of equity and distributed to independents or movie enthusiasts.   

Movie businesses embraces Blockchain and crypto  

The idea of merging cinema and Blockchain isn’t particularly new. As U.Today reported earlier, Demand Film, a Perth-based cinema startup, launched a new cryptocurrency dubbed Screencreds that is distributed as a reward for promoting their content.

However, it goes even further than that – “Crypto”, a new movie that starts such high-profile actors as Johnny Depp and Kurt Russell, is already in the pipeline.  And if you want to watch it by chance, you can do this on the very first TV miner that was introduced in August by one of the leading ASIC chip manufacturers Canaan Mining.

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Bitcoin Fees Greatly Depend on Your Time Zone, New Study Shows

  • Alex Morris
    📊‍ Infographics

    Find out at what time of the day you have to perform Bitcoin transactions in order to save money on fees

Bitcoin Fees Greatly Depend on Your Time Zone, New Study Shows
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In its latest issue, Blockchain research startup Diar examined how Bitcoin fees correlate to different parts of the day. It turns out that those who perform Bitcoin transactions at 1 PM UTC have to shell out a substantially higher fee than those users who want their payments confirmed in the morning or at night.

👉MUST READ Fees and transaction time – what you should know

It’s all about the timing

As the graph shows, those who send BTC at night have to pay 15,000 satoshis less, but getting your transaction confirmed at 1 PM will result in a much higher fee — almost 30,000 satoshis. Since EST and CST are five and six hours behind UTC respectively, it’s the best bet for Americans to avoid making Bitcoin transactions early in the morning. Meanwhile, Japanese Bitcoin owners will have to pay much more at 10 PM.  

Forking out big fees (not anymore)

As U.Today revealed earlier, all unconfirmed transactions go to a memory pool (mempool) where they remain in limbo before being validated by miners. Miners are obviously incentivized to pick transactions with the highest fees. During the peak of the crypto craze, more than 200,000 transactions were stuck in the mempool, and the fees went through the roof. However, the Diar report also shows that Bitcoin fees dropped to their lowest level in 4 years despite the current transaction count nearly matching the bull market peak.

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