Collection Account Management Application (CAMA) – Blockchain-based solutions for Media Industry
CAMA is a legal document, being prepared for our client The Union Edge, a prominent name in Media Industry. we were hired to develop a blockchain-based platform that provides The Union Edge CAMA stakeholders a full control of the payment waterfall for film and television production with enhanced transparency, trust, analytics and speed of payment.
The Union Edge CAMA guarantees that all stakeholders with a financial interest in a film or television production, from producer to investor to profit participant, will receive their pre-agreed share of the revenues collected – timely, securely and with full distributed ledger transparency.
Our blockchain enthusiasts developed a hyperledger fabric based decentralized application for Media Industry to keep major financial transactions among stakeholders transparent and secure.
The challenge (rather an opportunity) was integrating third party banks API.
Let’s see what CAMA is all about!
Transparency and trust
sales graph and global sales report is accessible to the users. All real-time transaction data is available to all stakeholders. Smart Contracts and peer-to-peer connectivity empowers trust between all participants.
Smart contracts enabled automated sales distribution process ensures no latency in payments since it dictate payment immediately upon contractual triggers and display information in doughnut charts.
Users can fetch robust information about transactions and distribution data like weekly increase in gross revenue per screen, weekly boost in number of theatres, etc. All related stakeholders – banks, law firms, sales agents and distributors are connected into this single platform.
Visual display of CAMA collection received and collections left for next payout. Streamlined pricing and transaction costs, mitigation of legal fees and disputes is automated through blockchain.
Setting-up a CAMA not only serves the fund’s goals but also protects the co-producers’ interests. A collection agency will only pay a sales agent’s commission in respect of such part of the revenues which is actually received in the collection account.
Beneficial to Producers
CAMA can benefit producers since by enabling them to outsource heavy administrative burdens (reporting) and ensuring that revenues are handled by an impartial third party. And, it also provides better financial security by tracking revenue.
The CAMA is an instrument which allows financial transparency and equality of treatment between beneficiaries of a share of the receipts. It is a financial protection tool for producers, in particular the minority co-producers.