Producing : Blockchain Services by Landis Stokes

I have a long history with block-chain concepts, an entertainment attorney and producer. To put it shortly and bluntly, they are NOT useful for film fundraising. At All. The purpose of a block chain is to secure a transaction with a permanent ledger. Secondarily, it has the possibility of HIDING the actual identities of the parties in the transaction. Though that is more difficult than block-chain enthusiasts would wish. Transactional security is NOT an issue in film funding and so the blockchain is pointless on that account. Inevitably, someone thinks they are going to fund a film with an ICO (Initial Coin Offering). This is not new, it has been attempted since the advent of bitcoin and has never, to my knowledge happened. Nice idea, but such schemes are ignorant of the laws on the sale of securities in the USA and elsewhere. Let's be clear that selling any equity in your film, and sometimes selling any future interest at all, is A SELLING A SECURITY. Period. If it is not a private transaction, you must rely on exemptions in the securities legislation, which are very specific. Now there are arguments to the contrary when you get into cryptocoins - I am not going to address them here because all of them are hogwash of varying degrees.

People who like to cook their books won't like the Distributed Ledger part of a Blockchain transaction. Complete transparency.

Kelly Nelson That's true as well, though the blockchain doesn't necessarily relate to anyone's accounting.