X Motion Pictures is a decentralized platform that runs XMP, a global filmmaking currency. XMP users including filmmakers, investors, studios and corporations will access utilities within the XMP member’s portal including smart contracts and instruments for accounting, finance administration, marketing and communication required to streamline the operations of the film business. XMP will use the Ethereum blockchain technology to create smart contract templates and to facilitate payroll, film distributions, film investments, copyright arrangements and business plans. XMP users will also gain access to strategic alliance partners including lawyers, accountants, film crew and marketing agencies to expediate their film business transactions.
The XMP filmmaking platform was created to enhance how the film industry economy is currently operating with technology, on an international scale. The XMP platform will solve costly inefficiencies that are currently prevalent within film and online video productions including legal and accounting costs, complex financial arrangements and current transaction security. The utilities within the XMP platform will allow users to overcome exorbitant costs and to streamline time used for accounting and legal protocols in filmmaking, co-production treaties and co-finance strategies, banking and international transfers, film investment structures and strategies. XMP will also implement stringent security measures for more efficient streaming and distribution of film content and utilize blockchain technology, which is resistant to duplication. The security and immutability of the decentralized ledger, renders the blockchain ideal for storing smart contracts, as transactions are traceable, transparent, irreversible and secure and provides XMP with the ability to create a future in which film content is not subject to piracy.
XMP’s economic model will be a definite inclusion to the film entertainment industry that will streamline costs and time for filmmakers, studios, corporates, investors and strategic partners.