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According to an announcement made by Bacardi Company, Lady Monika Bacardi the heiress of Bacardi Rum Empire has invested around $100 miilion in a Blockchain powered social Entertainment Platform ‘TaTaTu’. As per Lady Bacardi, the TaTaTu platform “preserves its bullish stance on the promise of Blockchain technology and cryptocurrency.” Elaborating further on the partnership, Lady Bacardi said that , “I’ve worked and invested with Andrea for many years — dating back to his first movies over a decade ago, and it has been rewarding every step of the way. Andrea is a forward thinker who has always met, and in many instances exceeded, his own high business standards. TaTaTu is sophisticated and an intuitively brilliant modeled platform that reinforces my bullish stance on the promise of blockchain technology and cryptocurrency.”
TaTaTu Entertainment Platform
TaTaTu Platform was started few months ago with intent to encourage watchers utilize their platform, which is a composite of the Service Video on Demand (VOD) and a long range interpersonal communication site. In addition, company is rewarding for consumption and contribution to content through digital tokens. Also, advertisers have the freedom to pay for their advertising on the platform. Additionally, traditional video streaming services are often subject to unlawful infringement. But TaTaTu claims to provide higher level of transparency for copyright holders through Blockchain system.
As per media houses, TaTaTu while addressing press release said that,
“Our founder Andrea Iervolino, and Lady Monika Bacardi have known each other for many years and have been business partners for nearly as much time since they founded AMBI together Monika was, of course one of the first to know about Andrea’s intention to launch TaTaTu and has given her support for the project from the beginning. After she witnessed what Andrea was able to build in only 6 months, she decided to take an active part in publicly supporting Andrea.”
The purpose of giving clients a chance to monetize the data they hand over as they consume content seems to be formed by the context of the EU’s General Data Protection Regulation (GDPR) laws, which were taken into consideration last year in May. Earlier, a month ago, it was reported that a European blockchain startup that utilises an ECR-20 token to both boost and empowers buyers to make an automated revenue stream by offering their personal information directly to organizations. Its creators claim that the worldwide trading volume of individual data has touched $250 bln.