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In conversation with the founder of MILC, Hendrik Hey

Coinedict recently interviewed Hendrik Hey, the founder and Managing Director of MILC. MILC is an ICO launched by Welt der Wunder to design an innovative blockchain-based license, trading and sales platform for good quality video content. It will cater to the international broadcasting, online publishing sectors, and VOD.

Coinedict: How did this particular idea come into being and how do you think can this create a difference in the media industry?

Hendrik Hey: I have worked with the TV broadcast industry for a major portion of my life. The technology is so far ahead that we are able to think about some kind of a virtual marketplace to make trading a lot easier, and that’s why we began our relationship with the company called Swiss Text. Swiss Text is the tech branch of Swiss Public Television, and together we want to develop a broadcast technology that meets the needs of both buyers and sellers. We are also looking at the licensing issues, as they are really complicated and that means the industry could be brimming with opportunities for blockchain. So our concept is basically a B2B platform, developing on the profession and businesses that we have been in for decades.

We need to keep developing approaches to provide the industry with easier services and deals. There are a lot of clients lining up, big networks, producers etc, and it’s critical to manage them all smoothly. Our platform will enable that. If we can solve all these inefficiencies and fix the licensing system that the industry supports, then its entire functioning will evolve.  

Coinedict: Have you thought about introducing your token?

Hendrik Hey: We have made the decision that at a certain point we will tokenize the processes. However, this would be a utility token to be used in real business cases. So, the token will have meaning, and not just be a cryptocurrency. We plan our token to be extremely useful as well as a tool for trading in the ecosystem.

It would be one of those industrial tokens that will truly reflect the media and entertainment space.

Coinedict: How has the response been so far?

Hendrik Hey: We have started with broadcasting, video, and film licensing businesses, and have received a welcoming response. In fact, we are overwhelmed as even the music industry is supporting us. They have been asking if we can match a model for their need as well, and of course, we are working on it.

Coinedict: You mentioned that you have years of experience in the media industry, how do you think that it would benefit operations at MILC?

Hendrik Hey: Well, the most important thing is that we understand what the problems are and for that, you have to be a part of the industry in the first place. If you enter the industry just now and tell people that you are going to organize everything differently, the chances are that no one would want to work with you. So, having a network is an extremely critical requirement. With decades spent in the media buying and selling industry, everyone more or less knows about our brand in Germany. This enables a layer of trust.

For more interviews, keep checking this space. If you have any more questions for Hey, reach out to us at [email protected].

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