Crypto currency craze has reached Hollywood, and now you might see next Hollywood hit produced with Crypto currencies, sound’s surprising? Well not surprising anymore, according to the latest news
Christopher Woodrow, who has helped produce or finance movies for the past decade, says the distributed-ledger technology known as blockchain is about to disrupt the film industry and he wants to be a part of it.The producer the Oscar-winning film “Birdman,” as well as “Black Mass” and “Hacksaw Ridge,” plans to launch his own blockchain-based token called MovieCoin in the first quarter of 2018. Funds raised in the sale, or initial coin offering, will go toward financing a portfolio of movies. Investors will benefit as the tokens, which can be traded in the secondary market, would appreciate based on the success of the films, Woodrow said.
“We’re trying to revolutionize the way films are financed,” Woodrow said in a telephone interview. “Hollywood is relationship driven and what we bring to the equation is the ability to gain access to the highest levels of film finance. We’re in the process of putting together a slate of projects that will include A-list movie stars, top-tier directors, seasoned and established producers, and that will form the initial slate for MovieCoin.”
The target is to sell $100 million of tokens that will be compliant with Securities and Exchange Commission regulations. Woodrow declined to name the movies being considered for the portfolio. Just like ICOs have given retail investors access to cutting-edge technology projects that used to be reserved to venture capitalists, Woodrow says tokens can also democratize film financing.
ICO market raised $3 billion in 2017
ICO market in 2017 is booming and according to the data, ICO’s in 2017 alone has raised more than $3 billion in investments, which is a very good sign for overall Crypto market and that is leading the way of its entrance into Hollywood, they are now looking forward to produce movies through crypto currencies and wants to maximize their profits.
Crypto Market cap reached $275 billion
Market cap of crypto currencies reached the level of $275 Billion after a spike on 4rth July 2018, Bitcoin maintaining its dominance at 42% , making it the biggest crypto currency in the world.
Bitcoin price currently trading at around $6700 after a 3% spike in the price , making it jump from $6500 to $6700 within minutes, analysts are predicting that this recent upside movement in crypto market in weak and need to sustain these levels in order to attract more buyers, otherwise overall bearish market is still in control.
$7000 is a key level for Bitcoin
$7000 is very important level for bitcoin according to many technical analysts, If it breaks above $7000 and stays there then chances are that upside move will be healthy, otherwise bear will look forward to take control of the situation again.
Switzerland merging Cryptocurrencies with conventional banking
Switzerland is on the right track to become a Crypto nation and country is making efforts to allow cryptcocurrencies to fully access conventional banking .
Bitcoin and other crypto currencies has taken a big hit in brutal bear market of 2018 but that’s not stopping Switzerland to allow cryptocurrencies to fully access conventional banking system within the country. Switzerland is currently in progress and drafting rules and regulations for such collaborations.
Heinz Tännler, Swiss expert & finance director of Zug canton, told media earlier that politicians were moving to allow crypto companies to work with banks, adding that Switzerland’s central bank, financial supervisor and federal government “are willing to help”.
He said: “We hope to clarify relationships by the end of the year at the latest.
“Time is pressing, other jurisdictions such as Malta and Singapore are very active and making a lot of effort to attract these companies. The lack of access to bank services is a significant competitive disadvantage.”
“We have to push certain national institutions to resolve this problem quickly and effectively, but that now seems to be going well.”
Blockchain becoming the global phenomenon
The concept of Blockchain is interesting and attractive for all the countries, many countries may disagree on the existence and usage of cryptocurrencies, but all of them agree with the fact concept of blockchain is not going anywhere and governments can benefit from this technology in various fields, but if you ask any expert of blockchain, he would tell you that success of Blockchain technology has to be linked with existence of crypto currencies, without crypto currencies, and ecosystem can’t exist, many governments around the world are slowly recognizing the fact and Switzerland is definitely on the right track if they allow crypto currencies to work in collaboration with the Banks, because many banks around the world are not allowing crypto currencies to offer services through them, but this initiative will open many doors in that regards.
Crypto market stabilizing gradually
Crypto market is stabilizing around $450 billion market cap after gradual increase in overall value in recent weeks.
Leading crypto currencies are on the rise, lead by Bitcoin, Ethereum, Bitcoin Cash and Ripple. Although increase in bitcoin value is less as compared to other crypto currencies but overall market is on rise with current market of $440 billion.
Bitcoin is currently hovering around the $9300 mark after being rejected at $10000 mark couple of times in last days, Ethereum is on the charge as well but the most surprising one is Bitcoin cash. Bitcoin cash was at $600 couple of weeks ago and now at $1600, shows rapid growth in recent weeks.
Crypto currency of the month has to be EOS, investors of EOS are enjoying a massive rise in value in past few weeks, EOS started April at $5 mark and now is at $18 , value of EOS increased more than 3 times within one month.
Current top 5 crypto currencies
- Bitcoin : $9388
- Ethereum: $741
- Ripple: $0.83
- Bitcoin Cash: $1630
- EOS: $18.28
News8 months ago
News8 months ago
Bitcoin on Mars?
Interviews7 months ago
Interview with Neil Stanley about the world of crypto currencies
Interviews7 months ago
A wall street veteran’s take on Cryptocurrencies
News7 months ago
IOTA is the next Bitcoin
News6 months ago
Vitalik Buterin owns 500000 Ethereum
News8 months ago
Total market cap of crypto currencies drops below $300 billion
Research6 months ago
New World Order 2.0 : Thoughts about Blockchain Technology and Bitcoin