A quick refresher of terms and definitions so that we are all aligned

What is the current state of the industry?

Established studios have in-house royalty and residual payment departments and there are boutique businesses that provide royalty, residual and payroll services to small production companies across north America. Contrary to popular notion, this task is not performed programmatically and insiders familiar with the inner workings know the extent of manual intervention in each step with speed and accuracy being the biggest challenge. Since, royalty and residuals are contractually mandated, slow, and inaccurate payments also means legal challenges, penalties and fees incurred by studios and broadcast companies. While the industry continues to operate with inefficiencies in its workflow, it's the creative artists who lose out on fair and equitable pay. Bigger studios have also moved to an offshore model for roles such as voice actors by hiring in the UK since there is no concept of residual payment outside of USA. We believe there is a better way to address these challenges that are currently hidden from public view by providing a platform that embraces automation running on public blockchain that will benefit both the artist (actors, musicians, authors) community and businesses that employ them while producing and distributing entertainment content that we all consume and love.