 I'll just share my presentation. Hello everyone. My name is Rajesh Tuddu. I lead the series at Tec Mahindra. Today I'll be talking about the media value in the post-COVID world. So in terms of the ongoing pandemic, there are no theatrical releases that are happening. And many movies releases in different parts of the world have moved over to internet. And they have moved over to various other. It doesn't come as a surprise that the industry lost $30 billion in the year 2020 alone primarily owing to the lockdown. And it is a staggering 70% plus loss compared to previous year. So given this kind of scenario, major disruptions that are being observed in the global media and entertainment industry, one is in terms of even before the pandemic, there has been a significant shift in the way people consume media. There have been on-rise of binge watching. And there has been shift to the medium like Netflix, like Hulu, Prime Video, so on and so forth. So the OTT providers are gaining significantly compared to the theaters or compared to the television broadcasters. And with this event, there is also a growing threat of intellectual property rights violation and piracy. Advent of OTT platforms make things a lot more difficult. There's mushrooming of many channels. And sometimes the content also moves from one particular channel or one particular OTT platform to another. The movement cannot be prevented or preempted. But what needs to be taken care of are the underlying IPR rules and also the IPR protection. And we also know that there is a concept of geo-blocking and the contractual provisions with the various broadcasters ask for geo-blocking to be enforced. That means once the content is licensed to a particular broadcaster or it is licensed to a particular OTT platform in a particular geography, it cannot appear on any other OTT platform in the same geography. If there are infringement of those provisions, the impact is significantly high and the damages are very, very, very, very high. So the geo-blocking emerged as a new challenge for a lot of media and entertainment companies. And added to that, there has been a significant decline in the revenues. So while these major disruptions were observed, what still remains important and what still remains paramount is content tracking, production, and payments, which are very, very important for business continuity. As a result of which, we need to look for next generation solutions which will help the media and entertainment companies to overcome the challenges. So can blockchain help? In our understanding, yes, the blockchain can help the media industry primarily to write the new normal, especially in the COVID, as well as the post-COVID world. Because of the inherent benefits that blockchain brings to the media and entertainment companies, apart from enhanced security, it provides immutability and provenance, a real time view of data, and most important is the improved transparency. So let's see how this is going to help with regards to the mushrooming of the OTT platforms and with regards to the shift in the media consumption. I mentioned that the digital rights management system becomes very, very important as a result. And it is not just having a digital rights management system, but it also having a system that is equipped with features like geofencing, with features like IPR management, which kind of prevents cross-pollination of content and also the sneaking of the content into various geographies and into various channels. And we know that blockchain brings in an inherent capability, which is the one-way hash function using a secured hash algorithm or algorithms of that particular nature. And when you do the forensic watermarking and when you enable the forensic watermarking with the hash functions, it will result in a very good track and trace capability, and which will also help to identify the original content from the fake content. It will also help to differentiate the original content from the fake content. In addition to that, given the innate nature of blockchain to facilitate microtransactions and micropayments, that particular innate feature of blockchain can be leveraged where micropayments can be enabled for digital artists. So in a sense, we believe that media companies leveraging the blockchain adequately will be in a better situation to grow 10x in the next three to five years. So is there in any other technology that can provide benefits that a blockchain can provide to the media and entertainment companies? The answer is no, because in terms of given the wide nature of the benefits, there is no other technology that comes closer to blockchain. Media and entertainment companies have a multitude of systems. If I talk about the systems, they have a content management system, they have an affiliate management system, they have a conditional access system, and various other systems. But the problem with these systems is they are very, very siloed, and the data from one system does not move to the other system in a seamless fashion. As a result of which, there is no exchange of information, and that lack of exchange of information in a seamless fashion brings in many, many challenges for media and entertainment companies. So that presents an opportunity for blockchain implementation, where blockchain can be implemented as a trusted middleware that links all these operating systems in a media and entertainment company, aggregates the information from these systems, and presents it as a single source of truth as a result of which, because of the lack of information, there is people do not end up violating on their contractual obligations. So the benefits are multitude, whether it is automating the contracts, facilitating transparency in royalty payments, lowering the transaction costs, addressing the fake news, reducing the copyright infringement. And so on and so forth. There are many, many benefits that blockchain can provide or can endow to the players in the media and entertainment industry. So let's see in terms of how does it cut across the value chain within the media industry, primarily from a content value chain perspective. So the opportunities are there in royalties, where blockchain-based platform can enable near real-time micro payments. The opportunities are in contract management, whether it pertains to digital media resale, or whether it pertains to automating contract creation. Opportunities are in digital advertising with respect to audience data sharing, ad campaign reconciliation reporting. And more important, most important, from a rights management perspective, where it facilitates record keeping on a universal basis and most important in a trusted and immutable fashion. So what is it going to lead to? It is going to lead to provenance with respect to the ownership of digital assets. It will lead to enhanced licensing and monetization. It will lead to increased efficiency in audience data sharing, reducing the time spent in reconciling the campaign data. So there are many, many, many benefits that are there from the many, many benefits that are there from integrating or from localizing or from internalizing blockchain in the day-to-day operations for a media and entertainment company. So let's see in terms of what the players are doing in the industry. I have been able to collate some examples here. There are both large players as well as small players who have started this particular journey with blockchain and then they only intend to enhance their adoption whether it is in the ongoing pandemic or the post-COVID world. So if we have good examples from Comcast, Disney in 20, as early as 2018, Comcast has announced a blockchain insights platform with NBC covering channels like Disney, Channel 4 and the others, primarily from a perspective of sharing the sharing, I mean, primarily from a perspective of establishing the authenticity of the viewership, establishing the authenticity of audience without sharing data. And what has it resulted in? It has resulted in focused advertising, a better planning and an ability to reach the target audience, the intended target audience. We've seen this with respect to Spotify which has come up with a media chain, primarily to work on developing next generation technology which with the name of connecting artists and the other right holders who own a particular music track or who are the rightful holders of the music track and it'll help to identify, it'll help to establish the ownership which becomes very, very easy on the service that is hosted on the Spotify's media chain. And there are examples from people like PRS, SACM and ASCAP, these are the royalty collection agencies which have built a blockchain network primarily to manage music copyright or the information pertaining to the music copyrights. So there are leading industry platforms like blockchain-based contracts and rights management system. It is considered it as a platform which is a single, I mean one source or which provides a single window kind of an approach and which caters to all the aspects that are important from a day-to-day operation in media and entertainment industry, whether it pertains to contracts, the rights management, track and trace and royalty payments. Based on my experience, there's not much of digitization that has happened in media and entertainment industry. You will have many, many production houses which still maintain their contracts either in the Word documents or the PDF documents and they are contained in the inboxes or in the folders of some key people in that particular entity. And the rest of the people in the organization do not have access to these contracts and important provisions pertaining to geo-blocking or important provisions pertaining to royalties or payments are contained in this particular contracts. So there is no mechanism to harness the information that is contained in this contracts and facilitate easy access to that particular information to different user groups within the organization. And I've also seen with respect to royalty payments, there's not much of automation. Many, many royalty payments are still managed on Excel and there is no exchange of information between the various parties who provide inputs into those royalty payments. And same is the case with the rights management or with track and trace. So the BCRMS platform is a one platform which addresses all these aspects. It starts with digitization of the contracts and it not only facilitates the digitization of the contracts but extraction of the key contractual provisions and conversion of those key contractual provisions into smart contracts which can be used across the organization and they provide very good inputs to the royalty calculations on an automated fashion and also tracking the digital rights management in an easy fashion. That's what the platform does. And with the advent of NFTs, the non-fungible tokens and for some of those who are not initiated into the exciting world of non-fungible tokens, they're basically tokens which establish the provenance of ownership of a digital file. It could be a music file or it could be a picture. It could be a video file. And what NFT does is it helps people to have the ownership on digital collectible or crypto collectible in an undisputed fashion. And what we are doing with respect to or rather what we are seeing as a trend in the industry is to have these NFTs integrated into the platforms like blockchain powered contracts and rights management system, the platform that I presented to you so that it not only tracks the rightful owner but it also establishes the provenance of that particular ownership along with an associated non-fungible token. And this is being integrated into the blockchain platform. So what do we gain to accomplish or what does the industry gain to accomplish by integrating the functionality of a non-fungible token into a blockchain platform? It is from a perspective of two aspects. One is it is helping people to tokenize the IP, not only helping people to tokenize IP but also to facilitate what we call as the fractional ownership of digital assets. So it is going to bring in the monetization capabilities with an underlying non-fungible token. For example, if there is a turning movement in a particular episode or in a drama series and you could take that particular turning movement and then you can mint underlying non-fungible tokens and you can possibly put it up for sale in a NFT marketplace. It could be audiovisual clips of popular movies or it could be Grammy clips, Oscar clips as the underlying non-fungible tokens. And obviously it also helps people manage the incentives primarily from a perspective of the subscribers or the buyers of the movie clips or the music labels and will also help to drive royalties especially in the context of fractional ownership. So in a sense to sum it up, there will be multitude of opportunities in the post-COVID world. The key is to spot those particular opportunities based on the problems or the burning problems that are there or the problems that have been around and which couldn't be solved through non-blockchain implementations. There's an opportunity to solve those by incorporating or by internalizing blockchain and various other blockchain powered platforms in media and entertainment industry. With that, I will bring my presentation to an end. I'm happy to take any questions that the audience may have. If there are any questions, please go ahead and put those questions for me in the chat screen. I'll be happy to pick them up. I'm seeing some comments. Thanks, Satish. Thanks for your kind comment. Okay, I'll take this, take it as no questions. It's a pleasure interacting with all of you on this virtual platform. If you need any further information, please feel free to reach out to me at mycoordinates rajesh.dudu at techmahendra.com. Thanks for watching my presentation. Please stay safe and wish you all a great day ahead. Thank you. Bye for now.