Sycamore Entertainment, a leading innovator in hybrid film and entertainment distribution, announced it has partnered with the Freiberger Company to launch MediaCoin.
MediaCoin is a media rights management application using blockchain technology. This application is a decentralized and encrypted system to manage artists' and producers' rights, track payments, manage terms of the distribution contracts and royalty revenues, and importantly, eliminate piracy. Sycamore Entertainment Group will also seek to use MediaCoin to acquire film and television content as well as other media.
This partnership between Sycamore and Freiberger is one of the world's first token collateralized asset management platforms that offers artists and rights holders access to an open sourced management accounting and audit system, powered by a flexible and transparent ledger that is managed securely on a blockchain.
Edward Sylvan, CEO of Sycamore Entertainment Group stated: “Blockchain is the backbone of numerous digital currencies including Bitcoin, Ethereum and Litecoin, but it has uses and applications that go beyond currency. Blockchain can be used to verify multiple levels of transactions and opens the door to platforms that can track permanent, and traceable peer to peer transactions. This opens the door to solving multiple problems in the media industry in areas of piracy and authenticity and will offer less expensive transactions to our customers. The music and Film industries are ideal for Blockchain applications as they are fraught with middlemen and have traditionally suffered from rampant piracy and a lack of transparency while being controlled by a small handful of companies. MediaCoin is going to revolutionize the entertainment industry.”
“We are delighted to be partnered with Jeff Freiberger and his team. They are currently launching Blockchain applications that are in full compliance with federal and securities regulations. This partnership will have a disruptive yet positive impact on the entertainment industry. MediaCoin will bring peace of mind to artists and media content creators while protecting their rights worldwide in a secure blockchain platform."
The Freiberger Company is a blockchain consulting and development company focused on launching decentralized Blockchain technologies in multiple applicable industries in the United States. The Freiberger Company Inc. and its advisors are comprised of a team of legal councils that specialize in securities regulations and blockchain technologies, blockchain developers, and blockchain expertise.
Jeff Freiberger, CEO of Freiberger Company stated: “We are delighted to partner with Sycamore Entertainment Group on MediaCoin. We strive to work with companies that are the best suited for this technology. We have relationships in the music and media industries which positions us to offer our Blockchain technology to quickly increase adoption once released. Freiberger Company Inc. has the expertise in SEC compliance requirements to launch an effective blockchain tech. This partnership with Sycamore is a very natural fit for us both as we both understand the problems we will solve in the media industry with our technology."
Freiberger Company is planning to release a white-paper in February 2018 explaining the specifics of MediaCoin that will be available on the Sycamore Entertainment Website.