WCT's Equipment Management and Deposit Optimization in the Film and Television Equipment Rental Industry
In the film and television equipment rental industry, the ambiguity in defining equipment damage compensation and the cumbersome deposit refund process have long been challenges for both parties involved in the rental. After introducing the WCT solution, a certain film and television equipment rental company achieved significant results. Before renting equipment, the renter pledges WCT of corresponding value as a deposit. During the rental process, real-time data such as the usage condition of the equipment and whether there is a risk of damage is recorded on the blockchain. For example, if a high-definition camera experiences issues such as lens scratches during the rental period, the blockchain data will promptly record the time and extent of the damage. When returning the equipment, compensation fees are calculated based on the blockchain records, deducted from the pledged WCT, and the remaining WCT is refunded immediately. After applying WCT, the deposit refund period for the rental company was reduced from an average of 7 days to 1 day, disputes over equipment damage compensation decreased by 80%, customer satisfaction significantly improved, and rental business volume increased by 40%, providing film creators with a more convenient and reliable equipment rental service.