The online creative industry started to flourish along with the online audiences. It is an industry that combines creativity with hard work. The end result helps communities or the world as a whole to advance or stay informed in its quest towards improvement.
At a small scale, with the help of the internet, each of us has created something worth posting online. Web pages, books, articles, drawings, videos, java scripts and so on.
Along with it, we have met all sorts of problems and challenges. Like plagiarism, piracy or even the inevitable spamming from malicious users.
INK Labs, a project that has co-founders from all around the globe is developing a system which will improve and solve most of the problems in the online creative industry.
What is INK?
The first thing that caught our attention was the exchange of intellectual property. Ink will create a blockchain based exchange where content creators will be able to exchange contents, tokens and pay each other for their work. In other words, the people who will benefit from it will be the content creators and the users who will receive the content.
The vision of Ink is to provide Sovereign Consortium Blockchains to different use cases, to build a blockchain based infrastructure for the Creative Industry where various applications were possible and correlate to each other in one system. Based on public blockchain (Qtum), an Intellectual Property Assets Exchange is built as a trusted corridor for cash generation and token issuance, making it an integrated ecosystem. At the same time, the cross-chain protocol enables value and information to flow freely between public blockchain and consortium blockchains.
The plan is to redefine roles, content, and behaviors and to create a decentralized infrastructure. By doing so the applications will be able to communicate with each other in one integrated system.
How does it work?
The user’s behaviors will be redefined and transformed into economic actions. The free content will be eliminated from the scheme. The only way a user will have access to content will be by contributing with a minimal fee.
According to Ink this will eliminate from the start spam contents and will redefine and add value to the content. Isn’t this what every creator wishes to convey through his content?
The user’s actions, likes, comments, reposts and so on will have an influence over the posted content. Firstly, it will enhance or weaken the circulation of the material. This will be a decentralized content distributor. Secondly, it will eliminate piracy, plagiarism, spam pornography, gambling, violence.
As the system is driven by transparent and redesigned proceeds distribution mechanism, it will operate in a rational manner. All intermediate processes will be replaced by a large number of automated smart contracts, and efficiency will be drastically improved. Redundant interference and loss of value, on the other hand, will be eliminated. Artists and creators can henceforth focus on creating contents and strive for self-fulfillment and self-expression. The value of the creation will be returned to the creator in a reasonable way.
Problems in the Industry
- Unclear Ownership Due to unclear ownership, many quality IP and content are not able to incubate effectively. Disputes are frequent.
- Inadequate Data Authenticity Such inadequacy often leads to the unfair distribution of proceeds, which greatly frustrates the motivation and creativity of quality content creators.
- Centralized Governance of Publishing, Distribution and Platform Management: Centralised governance results in various problems, such as inferior contents being marketed as premium products, unfair allocation of resources, hostile environment for young creators, and quality content and IP being neglected.
- Immense Difficulty to Convert Original Contents to Liquid Assets Majority of the creators needs a faster and more direct channel to convert their work into cash or cash equivalent.
- Inadequacy in Ecosystem and Infrastructure in the Industry Due to this problem, there has been inadequate exploitation, creation and liquidity of value in the Creative Industry. Except for a small fraction of top-notched IPs, many quality contents in the upper intermediate category are only utilized once and the utilization tends to be very elementary. As such, their potentials are not fully tapped into.