By
Mayowa Adebajo
March 12th, 2024
White Rabbit, a browser plug-in that recognizes the films and series you watch on whatever streaming site you prefer, will launch an ICO on November 27, 2017.
Project White Rabbit has been recently announced by professionals who are engaged in creative sphere. Film producers, distributors and software developers united to create really unusual and modern product. White Rabbit is based on the idea of fighting piracy and fair pay for artists. A project seeking to monetize P2P streaming to the benefit of fans and filmmakers.
The White Rabbit’s blog post pointed that according to different researches, 60% of people who watch movies illegally do so because of the fact that they cannot get a legal access to the content.
In accordance with the official website of White Rabbit, it won’t be necessary to subscribe to anyone site. The system will recognize the content person watches while streaming his or her favorite films or series. Smart contracts deducts a payment from users and transfers this immediately to rights holders. Utilizing blockchain technology, rights holders are also ensured complete financial transparency.
White Rabbit gives a unique opportunity to get rid of closed server based subscription platforms. It grants unlimited access to various content and fair distribution of material made by representatives of creative industries.
White Rabbit also deals with the problem of utter non-transparency of the entire even side of digital distribution and cash-flow immediacy.
“Blockchain and smart contracts will ensure that user payments go directly to the rights holders – without delay. This allows filmmakers to enjoy immediate reward for their efforts, while removing middlemen means the reward more is affordable for the fans,” stated in blog post.
Thanks to the blockchain technology, the filmmakers and the fans will have a unique opportunity to exclude intermediary in their cooperation and make payment for viewing films and viewing itself much easier and safer. Blockchain technology enables transfer of data and payments in a distributed ledger of records that no one can tamper with. Once a record makes it to the blockchain, it cannot be deleted or altered in any way.
The blog post continues: “This solution restores the balance in the entire content distribution industry; tackles the issue of video piracy and content availability; noticeably simplifies user experience; removes intermediaries and payment downtime from the equation; and, most importantly, establishes a foundation for a truly competitive environment. Not only that, but our smart contracts will enable all the rights holders of the film, to be paid their fair and agreed share of the films revenue, each time someone streams the film. Less work, more play and more pay for everyone!”
The project team includes various creative individuals, including critically acclaimed film producer Alan R. Milligan, architect and seasoned programmer Alexander Yarushin, Hengameh Panahi, a former partner at Mubi.com and others.
“Before I became a film producer, I worked with my father Alan Sr,” says Alan R. Milligan, CEO and founder of White Rabbit, in a blog post. “Together with White Rabbit´s CTO, we created MCIS (Milbros Chemical Information System) — ensuring safer transport of chemicals at sea. Today, MCIS is the industry standard in a market worth over $2 trillion. Now we aim to become another industry standard, ensuring fair distribution and transparent payment in the digital streaming market — estimated at $65 billion by 2021.”
“OTT services like Netflix have globalized digital streaming and created great content these last few years. Yet, they have not shown a sustainable business model and have therefore become studios competing directly with the films they used to buy. We are all in need of an open and competitive marketplace in digital distribution. With White Rabbit, we can offer a global, sustainable, transparent business model that also combats piracy without having to intimidate our fans — everyone wins, everyone is rewarded,” added Mr. Milligan.
Pursuant to the press release the team will hold a token pre-sale followed contribution campaign to continue development of White Rabbit. The official Initial Coin Offering (ICO) campaign will start on November 7 and will finish on December 22, 2017.