MACAU, CHINA / ACCESSWIRE / November 14, 2017 / Taeyang, Korean superstar and one of Big Bang's members, hosted his World Tour ''White Night'' in Macau on October 21, 2017. ENT, a brand-new payment platform using cryptocurrency backed by blockchain technology, is announced as a supporting partner to the Taeyang 2017 World Tour ''White Night.'' It shows further recognition of ENT from the mainstream entertainment industry after ENT's supporting of G-Dragon's concert in Europe. In the press conference, ENT announced the launch of ENT Cash, which will be a brand-new payment method to purchase concert tickets.
ENT is a world-class blockchain technology based cryptocurrency project in Korea. This project was initiated by Aimhigh Global, a leading Korean entertainment company. Clara, a famous actress, and model in Korea, has already agreed to engage in the ENT ecosystem. It is expected that more world-renowned celebrities will take part in the project as the ecosystem grows. Mr. Wang Xue, Chairman of Aimhigh Global, commented, ''ENT Cash is well-positioned to become a preferred payment method in the entertainment industry. The celebrity worshipping and its viral effect also facilitate the worldwide adoption of ENT.''
As a blockchain application, all data on the ENT chain can be traced, which keeps all activities open and transparent. The cryptocurrency will first be applied to the sales of concert tickets and related merchandise. Subsequently, it will be integrated with smart contracts, credit systems, and social networking platform. ENT will establish a full range of entertainment ecosystems, including a unified digital payment solution with ENT Cash, as well as a live-stream broadcast platform.
Capitalizing on blockchain technology's advantages of decentralization and distributed computing, ENT can close the loopholes of the existing fiat currency and payment system, which will, in turn, create payment needs by tapping into the entertainment business.
Celebrities can issue their own ENT Cash that supports the sales of all entertainment-related goods, such as concert tickets, music albums, and celebrities' performance fees. The Smart Contract platform supports ENT Cash to be used as an exclusive payment method for celebrities' commercial activities. The social networking platform, embedded with payment function, is transparent and trustworthy as it is traceable and decentralized.
As the technical support partner for ENT, INK, a digital publication blockchain and cryptocurrency system, will utilize its blockchain technology to maximize the advantages of ENT Cash by developing high-quality add-on features. ENT will also open its source code so that more freelance software engineers can be involved in the development and maintenance of the code.
Hcash Foundation, the organization behind Australia's first public blockchain project, also announced to provide technical support to ENT. Hcash has technological advantages, and its digital currency project is a breakthrough in post-quantum cryptography, which also offers many application use cases. Hcash enabled the integration to AliPay and WeChat Pay in many shopping malls in Australia, and facilitated loan management programs that use digital assets as collateral.
ENT is seeking further collaboration opportunities across the global entertainment industry, including concert ticket payment clearing and settlement with Live Nation, the world's leading concert production house. Live Nation organizes most superstars' performances and concerts with a huge fan base. It is also a key partner of renowned entertainment companies in Korea.
Following the continuous development of the entertainment industry, Live Nation's growth prospect is promising. According to its Q2 2017 financial report, the company has already launched more than 7,000 live shows for 24 million music fans so far. Their revenue in this sector increased by 34% YOY, and operating profit reached US$ 38 million. ENT will continue to work with Live Nation on its upcoming shows by deploying its innovative payment solution.
About ENT
Korea' s first world-class blockchain cryptocurrency project, was initiated by Aimhigh Global. ENT is a public blockchain infrastructure connecting global entertainment activities with the support of over 10 superstars before its release. The entertainment industry creates rigid demand for digital payment. With a unified digital payment solution (ENT Cash) and a social network platform, ENT provides a step for the global entertainment industry to enter the blockchain era.
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Gary Liu
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Mr. Wang Xue, Chairman of Aimhigh Global, introduced ENT Cash can be a smart
payment platform supports celebrity exclusive tokens to support celebrity's commercial activities.
SOURCE: ENT