• Creative teams often fail to raise money for projects, marketing and distribution, even with a tax credit.
• Because of industry mistrust, producers often can’t secure the talent and production work they require.
• Agreements and revenue sharing agreements are done by centralized accounting services are too expensive for most
• Lack of trust is the biggest obstacle in securing financial equity partners.
• Writers, musicians, film producers and other creators working within teams, often lose rights to their own intellectual property. because solid agreements are never created.
• At project inception, establish IP rights, and agree on basic revenue splits with investors
• Structure financial agreements for talent, production, distribution, marketing and licensing
• Empower and incentivize stakeholders with rewards and profit sharing
We at Matrix Blockchain, in partnership with Blockmason & WeFilmchain, are designing a revenue-splitting decentralized application (DApp) and mobile wallet under the name Starwire, to improve the way film project revenue sharing is done. Starwire can slowly phase out paper-based agreements, which lack transparency and instead, provide a consumer friendly wallet linked to a trusted Ethereum-based stablecoin. Complex revenue sharing, deferred invoicing, distribution and licensing deals become simple for today’s busy Producer.
We are uniquely positioned with our roots in the film industry, to drive adoption of such a DApp and already have a number of potential customers to become beta testers. Key stakeholders using our DApp include film producers, distributors, investors, cast and crew, and thus our reach would quickly be to thousands of end users.
The Elastos ETH sidechain with its improvements fits our planned application perfectly and our DApp will utilize the TestNet for developing the minimum viable product. Future product iterations plan to employ additional Elastos services such as Carrier and Runtime, to give added security and trust for our customers.
The partnership with Blockmason will enable us to use their microservices development application, Link, as an admin portal to design and seamlessly deploy the project smart contracts to the Elastos ETH sidechain and also as the API server.
Starwire teaser: https://www.youtube.com/watch?v=v5xSpIFbF2Y
Our larger goal is have have a well developed MVP ready to demonstrate and get it into the hands of top influencers in the ‘hollywood north’ film industry in order to solicit pertinent feedback before moving forward with a mainnet version in 2020.
The budget for that total project exceeds what is offered in this contest but there are modules within our DAPP that can be completed within the scope of this contest.
We wanted to breakdown some modules of the complete DAPP and Starwire platform into smaller modules for this competition we have made the following restrictions to fit the budget that is being offered.
Focus on a single film project. We’ll obviously design for scalability but to get the MVPs done quickly we’ll be focused on just a single film project. I think this will primarily boil down to how the mobile app authenticates with the smart contract - we may hard code some parts for the MVP since it’s just one project.
Before using the smart contract in a production setting, it should be reviewed by a 3rd party/validation service. With the MVPs, we’ll have the smart contract at a ‘staging’ level which means it’ll have all the necessary functions but will not have been formally validated.
No revenue-split visualization. This can eat up a lot of time discussing and implementing.
Minimal on UI UX - focus on functionality, not look and feel
In addition to the milestones mentioned above, regular updates will be provided through social media (such as via YouTube) to continue to engage the Elastos community as we are excited to share our progress and solicit feedback. We will also be conducting product demos via livestream including the Final Product demo.
Once the DApp MVP has been delivered, seven content creator groups will be selected for product testing and feedback. This feedback from these groups will be provided to the Cyber Republic before moving on to the Elastos Mainnet development, KYC integration and product iteration. DApp marketing banner ads, still images & video content detailing the basic functions will be created for release to social media and other various media outlets once MVP is finalized.
MVP 1 (1500 ELA):
- Draft smart contract & test code
- Simple, demoable web front-end interacting with smart contract to show smart contract functionality
- The The LINK API Gateway is already complete
- End of Week 1: Smart contract scope defined and front-end demo components identified
- End of Week 2: Smart contract written and tested
- End of Week 3: Front-end template integrated with smart contract
- End of Week 4: Front-end web app demo
MVP 2 (1500 ELA):
- Staging-level smart contract (i.e. still requiring advisor or 3rd party review)
- Mobile app wallet mockups showing end-user workflows (using PowerPoint for example)
MVP 3 (1500 ELA):
- Mobile app user interface MVP (using react-native). Basic workflow intact.
MVP 4 (1500 ELA):
- Mobile app user interface
- Mobile app server
- Mobile app integration* (difficulty and effort required for this to be determined after stage 3)
The 2 major bodies of work under this project proposal scope are:
Developing a film project smart contract template which would contain the specific revenue-splitting percentages, treasury wallet, ability to add authorized stakeholders, key project metadata and other details. This template can then be used to deploy multiple film project smart contracts to the Elastos ETH sidechain using the Link admin portal.
A mobile dapp to be used by all stakeholders containing a digital wallet, revenue share visuals, amounts owing, project metadata and the ability to add and authenticate with a film project.
Detailed Technical Scope
The admin portal to be used is the Blockmason Link (https://blockmason.link) application which already contains the following features:
- Ability to create and deploy smart contracts to any Ethereum compatible network, including the Elastos ETH sidechain TestNet, using public nodes (this was successfully tested by the Blockmason team)
- Managed wallets to handle smart contract transactions, and if necessary, serve as secure treasury wallets for the film projects
- Generates secure, restful, web APIs to be used by the Starwire mobile wallet to interact with the smart contracts
The smart contract template, representing each film project, will contain the ability to:
- Add or modify stakeholder groupings
- Set revenue sharing percentage tiers for each stakeholder grouping such as distributor, investor, producer or crew
- Authenticate Starwire mobile wallets under a specific stakeholder grouping
- Set the film project treasury address into which all project revenue, in the form of a cryptocurrency, flows into
- Set the film project metadata
For this proposal, 2 smart contracts representing multiple film project will be deployed on the Elastos TestNet using the open RPC node at https://rpc.elaeth.io. A mobile DApp to be used by the film project stakeholders will be written using React-Native and contain:
- Secure registration and account setup
- Ability, as a stakeholder, to see how much they are owed based on the film project revenue tiers. The projected flows will be facilitated by a visual such as a flow sampler dial or slider.
- A digital wallet. A future scope extension will be to offer on/off ramps for stakeholders to transfer their digital earnings into fiat and vice-versa. For example, Canadian wallet would include the ability to initiate INTERAC payments and bank transfers.
- Basic wallet branding
The overall flow will look something as follows:
The Starwire team is composed of three members who are well established in a variety of industries.
Harish Raisinghani is seasoned professional with experience in several fields. He has worked as a systems engineer, software developer, project manager, and other roles. Now, he serves as the COO at Blockmason and is involved with building relationships, educational content development, and mining operations. Harish’s main responsibility on the team is working on technical aspects of the Starwire dApp and applying Elastos technology on to the platform (Runtime, Carrier, ETH sidechain).
Garnet Campbell, co-founder of WeFilmchain, has 25 years of experience in media production, business development, project management, marketing strategies, and teambuilding. He will work directly with Harish to provide direction on how the dApp should function and how users will interact with Starwire. Garnet will also be the point man in weekly outreach to future clients and event planning.
Colin Wiebe is the founder of Matrix Blockchain Technology Corp. He is credited for the creation of the Starwire concept and brand. Colin has experience as a graphic designer, creative director and copywriter. His responsibilities include overseeing all areas of the UI/UX and graphical design on the Starwire dApp.
There are a plethora of parties Starwire is targeting for their platform:
- ACTRA (Alliance of Canadian Television and Radio Artists) is a union comprised of 23,000 professional artists working in English-language recorded media. ACTRA currently uses a manual contract system that allows producers to hire union actors for free or at a low cost and in return collects a percentage of the film’s gross profits and redistributes them to the actors. Starwire would help in better automating and streamlining the payment process to all artists involved.
- Mandy.com is the largest creative community of artists in the film, television, dance, music, and modeling industries. Mandy empowers artists in finding work in all the aforementioned fields. Any jobs posted on Mandy could use Starwire smart contracts in order to pay for their hires.
- YouTubers are primary targets of the Starwire platform. There are approximately 80,000 Youtube accounts with 100,000 or more subscribers who would greatly benefit by using the Starwire platform.
- Emerging filmmakers and film school students are a huge potential user base for the Starwire dApp. The team plans to submit their educational series on how to use blockchain and smart contracts to Filmskills.com, a platform used by over 70 top universities and film school programs in North America.
- American Film Market is attended by 7000 industry professionals, 2000 new film and projects, 1000 production companies and 400 global distributors. Starwire will look to be a major presence at this event.
Benefits to Elastos Community & Ecosystem
- Bringing more DApps to Elastos, supporting CR Regions, creating developer relations and learning materials, special Elastos-centered soft launch/press release at Vancity Theatre to blockchain and film community and establishing Elastos presence in the Hollywood North landscape.
- Using 3rd party tools such as Blockmason’s Link application to serve as an on-ramp for development on Elastos, especially with non-blockchain centric developer communities.
- Bringing blockchain technology to an industry (film), which is plagued by accounting inefficiencies and lack of transparency
- A stepping stone to future entertainment based smart-contract applications such revenue sharing from smart video players, which is a core feature of the WeFilmChain streaming platform