ForkLog: Hi Sam (President Landmark Asia)! You started your career in the financial sector and served as the Vice President at JPMorgan&Chase. Do you consider blockchain as a financial technology at first place?
Sam: I believe that blockchain forms the next generation IT-industry. The financial sector has to work with blockchain and implement DLT-tech. In the past we could have separated those things – I mean information tech and finances developed seperately, but now it’s no longer true. It’s one thing now, the traditional paradigm of finance is no longer there.
ForkLog: What’s the future for the movie-making industry? What trends do you see now?
Sam: I think that most people are tired of the same movies all the time. We see different actors and directors, but each time, it is the same story, sam script. Yes, the actions could be more advanced, better CG, better picture quality. but the storyline is same all the time, and movie lovers are simply just tired of that. That is why many people prefer documentaries and based on true story movies.
We, the movie makers, really need to improve our story telling and breathe a new life back into our movies.
In terms of trends, I personally see a need to decentralize the industry. By saying this, I mean that it’s not always effective to have few sources of movie-making financing, invested by the major studios in the world. Maybe this is the main cause for the same storyline. We could have equal conditions for movie-makers from countries like Russia, China, and Korea, Nigeria, or any other nations. We can see new heroes coming from these countries, and it will be good thing for us. We love Tom Cruise, but he does NOT have to be the Hero everytime and all the time.
ForkLog: But Hollywood is still an uncontested leader in this sphere, isn’t it? There is an obvious monopoly. We can’t say that industry is decentralized.
Sam: Sure. We can’t change things overnight as with anything else. The key problem in terms of this monopoly is investment flow. So, for many years, as staed, the only big studios could invest in the global full-scale film-projects. But, now, I see this reality starting to change because of blockchain tech. The main blockchain usecase in the movie-making industry is to tokenize and decentralize investments to make it possible for people all over the world to take part. I think we will see very different movie-making environment in the next five years or so.
ForkLog: Some producers believe that tokensales is a great way to fund movies. Do you think it’s effective to have separate token for each particular film?
Sam: I believe that tokenization is the next development phase in the investment sector, and movies’ funding in particular. Now you don’t need to be a part of a big studio to take part. If you want to invest $10, you can and that will be great.
You can generate separate tokens for each new movie as well as have a kind of an universal token to fund the whole entertainment media sphere. I think it works both ways.
ForkLog: What do you and your company do to promote these new decentralized trends?
Sam: Of course, for now, we will continue to make movies in old-fashioned way and attract funds from big investors as well as use our own resources. But slowly, we will also implement tokenized solutions. We already have Landmark Coin (LAC, landmarkasia.io), which is created to make a new fashion mainstream.
ForkLog: Do you have any experience in making tokensales?
Sam: Yes. We have already created a wonderful coin outside of entertainment industry. Because blockchain tech abilities are much more than just fun. It’s called DEO coin (destoio), which is aimed to provide tens of millions of unbanked people in not advanced countries with high-quality financial services. Now, we know the enormous power of tokenization and we are going to bring it to entertainment.
ForkLog: What platform is the best one to tokenize the film industry?
Sam: For now I believe it’s Ethereum. It’s the best option of tokenization for movie makers and any other entertainment providers. It’s like kind of a car. You know there will be better models in the future, but if you have to drive now – you choose Ethereum. Most of the tokens are now ERC-20 compliant of course.
ForkLog: Do you see any usecases in the movie-making industry for existing cryptocurrencies like bitcoin?
Sam: You know Bitcoin is a father of all cryptocurrencies. I think that sooner or later everyone will be able to pay in bitcoins not only for movie tickets, but also for popcorn and all that stuff. That will be as usual as movies with VR integration.
The future of decentralized solutions is huge!
Sam Chi was interviewed by Nick Schteringard.