Ostrom’s Razor: Using Bitcoin to Cut Fraud in Hollywood Accounting

Ted Rivera, Dave Foderick
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Abstract

The accounting principles prevalent in Hollywood are seemingly crafted to mislead creators and investors. Film studios and streaming platforms have been found to use complex strategies to annually divert millions in net profits. Many contracts include audit clauses, but the cost of auditing a billion-dollar system is prohibitive for most creatives with “net profit” deals. However, a resourceful minority have recovered billions in profits and damages. We suggest using Bitcoin’s transparent, immutable ledger to eliminate fraudulent accounting and build trust among profit-seeking filmmakers willing to trade maximum income for maximum profit per share. This trust can be spread globally utilizing the Bitcoin network as a transparent and immutable triple-entry accounting system. Our research shows that distributing this decentralized trust is achievable by configuring an ecosystem of existing Bitcoin wallets, applications, and recorded contracts to create a universal source of truth for all parties assisting in the creation of valuable content in the form of movies. This network can form the foundation on which to build a legal blockchain infrastructure that can eventually facilitate the sale of tokenized securities, discretely disseminate recorded financial data, and transparently distribute revenue to a collective of filmmakers indefinitely.
奥斯特罗姆剃刀:利用比特币减少好莱坞会计中的欺诈行为
好莱坞盛行的会计原则似乎是为了误导创作者和投资者而精心设计的。电影制片厂和流媒体平台被发现使用复杂的策略,每年转移数百万的净利润。许多合同都包含审计条款,但对于大多数拥有 "净利润 "交易的创作者来说,审计一个价值数十亿美元的系统的成本过高。然而,少数足智多谋的人已经追回了数十亿美元的利润和损失。我们建议利用比特币透明、不可更改的分类账来杜绝虚假账目,并在愿意以最大收入换取每股最大利润的追求利润的电影制片人之间建立信任。这种信任可以利用比特币网络作为一个透明、不可更改的三重记账系统在全球范围内传播。我们的研究表明,通过配置现有的比特币钱包、应用程序和已记录合约的生态系统,为所有协助以电影形式创作有价值内容的各方创建一个通用的真相来源,就可以实现这种去中心化信任的传播。这个网络可以成为建立合法区块链基础设施的基础,最终可以促进代币化证券的销售,谨慎地传播记录的财务数据,并无限期地向电影制作者集体透明地分配收入。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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