Blockchain is a computer communication protocol based on peer-to-peer networks and cryptography.
HOW IT WORKS
A blockchain is like a digital ledger that keeps an unchangeable record of data operations.
These operations are recorded and grouped into “blocks“.
The data is decentralized (stored across a network of computers with no central server).
Each and every block is linked to the previous one and time-stamped. These links create “chains” of blocks.
It allows millions of assets to be exchanged in a transparent, secure and decentralized way,
with total traceability.
The first blockchain was used in 2008 to exchange electronic money (Bitcoin) without the intervention of a central bank. The rapid evolution of this technology has made it possible to develop more sophisticated applications, particularly on the Ethereum blockchain, which introduced “smart contracts” in 2013. These contracts automatically execute value transfers based on the fulfillment of predetermined conditions. These smart contracts are the fundamental technology that allowed the deployment of blockchain technology into the B2B environment. Their strong automation makes it possible to automate operations and reduce the costs of verification, execution, arbitration and fraud.
Blockchain technology brings traceability, transparency, security, consensus,
automation, efficiency, trust…
Because of its fragmentation, complexity and opacity, the entertainment industry is
a privileged application sector for the blockchain, especially with smart contracts, which allow
the automation of rights management and revenue distribution.
Cascade8‘s main use of blockchain is Blockframes, its open-source platform allowing
the replication of a film’s chain of title on the blockchain.
Blockframes enables reliable and transparent tracking of all payments related to the film’s chain of title, and the automation of rights management and revenue redistribution, thanks to smart contracts.
Initiated in September 2018, Blockframes had a successful proof of concept with the movie Terra Willy,
as it managed to calculate the whole waterfall on the public Ethereum blockchain.
That was the beginning of Cascade8.