MILC platform poised to disrupt the media content industry
Life and life have undergone a drastic change in recent times. These changes have become even more glaring with the coronavirus outbreak. Around the time we thought the world was going to come to an end, cutting-edge technologies began to fly from all corners of the globe.
In business, for example, things remained relatively stable until 2020, when technology swept the commercial space, regardless of whether or not you were ready for the change. Things have gotten more technical, ranging from the way we communicate and work remotely from our homes, to the use of artificial intelligence (AI) and collaboration or the network.
In medicine, the use of smart inhalers, artificial organs, and robotic surgery are indicators that things won’t stay the same for long. The other industries and sectors are not left out. Many people have made a name for themselves as disruptors in their respective industries by taking advantage of technology.
A quick example is Indigo Agriculture which uses a system known as the Indigo Atlas that combines remote sensing, ground equipment, historical and weather data to identify subtle differences in crop performance between regions, thus amassing 200 million dollars in funding in January 2020. Another quick example is the San Francisco-based cryptocurrency company known as Ripple, which revolutionized the way money and value are exchanged through the blockchain. .
MILC, a product of Welt der Wunder TV, has also become a disruptor in the multimedia content industry, solving the problems of an outdated licensing approach, the operating activities of middlemen and middlemen as well as reduced access. from content creators to buyers and users. All these objectives are achieved thanks to the various systems of the MILC platform such as Governance, Launchpad, MLT Tokens, and the Social Community Hub.
Challenges in the multimedia content industry
The media content industry suffers from a content licensing approach that involves frequent trips to trade shows. The costs of attending these fairs are enormous coupled with the high transportation costs. The COVID-19 epidemic with the resulting restrictions on movement has further exposed the flaws in this system.
Coupled with the financial woes, there is also the problem of the difficulty for buyers to select the appropriate and desired content since they are generally faced with an unmanageable volume of content at such prices. Unless you are an expert who really knows what you want, choosing the right media content is Herculean.
The struggle does not end when the buyer selects the content and decides to buy it. This step is followed by another extremely arduous actual license negotiation process that involves lawyers and a plethora of intermediaries. Since there are no established international licensing standards, lawyers seem to derive pleasure from the stress that accompanies the overtly expensive and time-consuming multistep process of delivering a bespoke license agreement.
All of this makes the current process of exchanging media content and licensing very unattractive. In addition to being unattractive, sellers do not have direct access to buyers. The operating activities of lawyers, distributors and intermediaries reduce the profits of content creators, even when buyers pay unnecessarily higher than normal amounts. The need for a better system to do this is long overdue and thanks to MILC for showing us a better way.
What MILC brings to the table
First, MILC provides a platform to digitize the entire licensing system, thereby eliminating the cost and risk associated with travel to trade shows. And what else? In a time marked by travel and assembly restrictions, transactions can continue to take place even in the comfort of people’s homes. It also ensures that content owners and sellers have real-time access to buyers.
Digitization, in addition to saving on travel costs, also eliminates the operating activities of intermediaries. Legal fees for developing license agreements are also waived as the process is automated.
The constraints of working with FIAT currencies through banks and other financial institutions are eliminated because the MILC platform works with the MLT token and a blockchain that is not under anyone’s control.
MILC has a Launchpad, a system that allows content creators to raise funds for the production of their content. It works by giving investors the opportunity to participate financially in the content that interests them. Content owners simply pitch and invite investors to indicate their interests. It’s a win-win for both parties.
Perspectives and Realities
If you know the seaside, you’ll know the tides are coming whether you’re prepared or not. If one is prepared, it can ride the tide but if not, it will be washed. Whether we are prepared or not, the whole world is getting technical. And it will be better for us not to go against the grain. Blockchain technology has come to stay and it will inevitably disrupt every industry and sector.
The multimedia content industry is no different. MILC has developed the MLT token which serves as a medium of exchange, using blockchain technology. Other companies and organizations will follow soon, leaving analogous methods of collecting dust in the trash out of date.
While the media content industry has many problems, MILC has provided us with a platform to minimize or even eliminate them. Thanks to this platform, buyers and sellers are spared the hassle of long trips. Content creators have the opportunity to fundraise for their projects before they’re even finished. In addition, licensing costs are saved and buyers and sellers are better off. Is it improving? The media are watching closely.