Blockchain-powered film and video rights startup launches fundraising campaign

August 15, 2017 12:41

Reducing film and video piracy by 80% within 10 years is the ambitious promise of Sydney-based startup Veredictum as it launches a fundraising campaign.

The company, which yesterday launched a sale of its ‘tokens’ that it hopes will raise at least $7.5 million, claims its blockchain technology will let rights owners track the usage of their works and will eventually provide a payments platform for consumers.

“Piracy is not just one person’s problem; it’s everyone’s,” saidVeredictum’s founder Tim Lea. “Our objective is to galvanise the creative community together to solve the biggest problem that is facing the community’s very survival.

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Paul Wallbank

Paul Wallbank was news editor at Mumbrella between June 2017 and June 2019. Previously he's covered business and technology issues for outlets ranging from The Australian and Sydney Morning Herald to the ABC and Business Spectator.

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