MIDI time code (MTC)
A system for easily and cost-effectively translating SMPTE time code into an equivalent time code that conforms to the MIDI 1.0 Specification. It also allows for time-based code and commands to be distributed throughout the MIDI chain to devices or instruments capable of understanding and executing MTC commands.
MIDI TIME CODE (MTC)
Like MIDI itself MTC tried to set new standards. Before MTC was developed there were dozens of boxes which could read/write SMPTE to tape and then convert to MIDI but they weren't universal so errors could occur. MTC is primarily used to synchronise MIDI (both music and audio files) to film and post production work. MTC is often described as the digital version of SMPTE.