Groupe Média TFO, with support from the Canadian Media Fund, has announced that it is developing a blockchain prototype, aimed at crediting the rights of audiovisual works' creators.
The initiative “Blockchain TFO”, the first of its kind in Canada, could potentially transform how digital cultural productions are managed. According to the official release, the blockchain project is the first presented by a TV broadcaster to be financed by the Canadian Media Fund as part of the Experimental Stream Innovation Program. It aims to develop an innovative tool that will ensure transparency for legal and financial transactions.
"We wish to participate in creating next generation tools to credit and reward the rightholders in a way that is transparent, reliable and without an intermediary. As a public, education-focused company, we want to do our part to protect Canadian cultural works, including our own, as we expand their accessibility and visibility,” Glenn O'Farrell, President and Chief Executive Officer of Groupe Média TFO, said.
Groupe Média TFO is currently inviting interested players from the content production and distribution industries to participate in defining this blockchain prototype. The project targets the entirety of players from the digital cultural products industry, particularly those working on movies, TV shows, and digital content. It aims to develop a solution that will cater to the needs of all content broadcasters and producers in Canada and elsewhere.
"Through this initiative, we hope to create a product that will transform and deeply remodel the way digital cultural productions are handled, from their funding to their marketing and operation. We therefore invite the other players in this industry to join us and participate in this revolution,” Ulrich Dessouassi, Digital Products Manager of Groupe Média TFO, said.
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