Their idea aims to protect creatives from having their ideas stolen and to reduce film piracy by 80%. According to ZDnet, Tim Lea, CEO of Veredictum, has announced that the script distribution model they have created has not been used in the space previously and he is confident that the industry has pockets of problems that blockchain presents the right solution to.
The moment someone accesses a script via Veredictums platform, it gets registered to the blockchain, revealing who has looked at the document and when, presenting the writer with some protection in the event their idea gets stolen.
More than that, the startup thinks of watermark the videos armed with the information that they have actually hashed to the blockchain. Therefore, those will be digitally fingerprinted in such a way that even if somebody strips out information, the digital fingerprint will still be there.
Currently, Veredictum is in discussions with a film studio, the site continues.
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