On May 18, 2018 it will be presented MovieCoin - blockchain platform for film finance.
BankEx - a fintech company that utilizes new technologies to expand the frontiers of traditional financing.
Last year in November BankEx announced the agreement with Christopher Woodrow, producer of such popular films, as “Birdman”, “Hacksaw Ridge” and others. They are developing a MovieCoin platform, designed to fund future movies with cryptocurrency called MovieCoin.
MovieCoin will utilize BANKEX’s blockchain based Proof-of-Asset protocol (PoA) to help film industry raise funds much easier and faster. Both partners are sure that their “collaboration will optimize liquidity for investors, allowing faster, cheaper and more flexible financing solutions.”
Woodrow noted: “We can’t ignore that some cryptocurrencies are being issued in a speculative manner, which could create a bubble. The alliance of Bankex with MovieCoin will mitigate that risk by underpinning our cryptocurrency with tangible assets.”
It was confirmed that MovieCoin will be presented on May 18, 2018 in France at the Cannes Film Festival. BANKEX Founder and CEO Igor Khmel has already been invited to the red carpet.
The developers expected the platform to raise $100 million, and then billions dollars, because Hollywood film industry attracts 5 billion dollars annually. The platform will help to invest in blockbusters with minimal losses. Its goal is to reduce the risks of investment for newcomers in Hollywood via Moviecoin tokens.
Igor Khmel said: “The specialty finance industry offers customized debt and equity funding solutions that are well suited for blockchain integration using our Proof-of-Asset protocol."