SingularDTV, the first ever decentralized and tokenized TV & Film content production and distribution platform, is taking the best from both worlds and setting the precedent for future endeavors with their new governance model: Centrally Organized Distributed Entity, or CODE.
The CODE will function like a DAO in terms of funding and revenue sharing, in which each token represents a share in said organization and is entitled to receive dividends from holding these tokens. Tokens will not hold any voting properties as the central component of CODE is in charge of the platform’s governance itself, and investment and development decisions will be taken by the SingularDTV executive branch and management team.
Not only will this hybrid model provide a simplified governance system for specialized industries, in which a certain degree of knowledge and experience is necessary to move the company in the right direction, but it will also remove some of the security flaws associated with The DAO’s model, such as voting and splitting functions.
An extra security layer will also be provided by the well-known crypto law firm MME. This security mechanism is called The Guard, and it will function as a two-tier auditing system composed of a human stress test element and a code failsafe mechanism.
Unlike the DAO, SingularDTV will have a limited amount of tokens that will be exchanged at a fixed $0.015 rate during the ICO period, 500 million SNGLS out of the 1 billion total supply will be available during the ICO, meaning that $7.5M worth of Ether will be stored within the S-DTV’s smart contract system, which will then be spent or exchanged for fiat in order to pay for and invest in projects.
This $7.5M limit is within the advised amount of value that should be stored in a Smart Contract since security risks are to be associated with all nascent technology such as smart contracts.
What will happen to the other 500 million SNGLS tokens that will not be sold during the Initial Coin Offering period? 100 million tokens will be distributed to core investors, while the other 400 million will be reserved by SingularDTV. These tokens will not be exchanged or sold, but will instead be stored and recycled within the S-DTV system.
Once revenue from film and television content distribution is collected and distributed, the dividends received from those 400 million tokens will be reinvested back into SingularDTV’s projects, which will be put to use by acquiring or producing new content like TV series or documentary films.
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