Too Early For Blockchain In Entertainment In India? MinersINC Disagree

Blockchain is a buzzword we still choose not to discuss. Let's admit, not too many of us actually understand it. Fortunately, for the believers of this technology they are all still headed to try to make a mark and change in the world with blockchain. Blockchain-powered P2P startup for the entertainment sector MinersINC has raised angel funding from V C Bothra, a Singapore-based businessman. It aims to enable creators of entertainment content — movies, music, games, etc. Founded in October 2017 by Nitin Narkhede and Deepak Jayaram, MinersINC is using blockchain to enable a robust technology-driven system that can offer solutions problems faced by the Indian entertainment industry such as piracy, revenue leakages, rights management, and opaque systems through their product MYNK.

Blockchain Simplified by Nitin Narkhede

The co-founder of MinersINC simplified the concept and meaning behind blockchain. Blockchain holds cryptographic proof of a transaction on a 32byte string that is replicated and stored on multiple nodes at the same time. The information once recorded cannot be changed or deleted; it’s secured and encrypted; it’s immutable. Like Internet & intranet, blockchain could be Public (with permission) or private (without permission). As the name suggests, the chain connects multiple network nodes and stores copies of the transaction on each of them instead of just one node connected to database. Multiple nodes creates tamper-proof and immutable records. Hence, a single node failure in the network will not affect the data or transaction stored on blockchain.

What is MinersINC?

MinersINC could be the future of cinema and the Indian entertainment industry as a whole! It's an ecosystem that brings content creator closer to content consumers using blockchain technology. It's an effort to bring generations of movie lovers to experience the magic of movies and give control to the creators. They aim to equip the creators with the power to challenge the status quo and disarm old systems of distribution to create a future focused environment where everyone can pursue their passion for cinema and their love for participating in the entertainment economy.

MinersINC was started because we wanted to create an ecosystem that makes consumers a core and integral part of the of the entertainment economy. We also wanted to provide means for creators to personalise content and express freely while getting closer to their consumers. Blockchain technology will be at the heart of this platform and will give us a truly democratic platform. - Nitin Narkhede

With a presence in India as Mangata technologies Pvt. Ltd, the company aims at providing benefits to all stakeholders of the economy – creators, consumers, and regulators.

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