BLOCKCHAIN
Creatives Turn to Blockchain to Fulfill Internet Promise

2018-01-03 17:02:47
by Sam Enrico Williams
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One of the many exciting projects presented at BlockShow Asia is aimed at the creative community. Daniel Zhai, the Chief Operating Officer of a Blockchain start-up company, INK Labs Foundation, was introducing the company's proposed Intellectual Property Assets Exchange, to be built on the Qtum Blockchain.

  One of the many exciting projects presented at BlockShow Asia is aimed at the creative community. Daniel Zhai, the Chief Operating Officer of a Blockchain start-up company, INK Labs Foundation, was introducing the company's proposed Intellectual Property Assets Exchange, to be built on the Qtum Blockchain. By bringing Blockchain technology to the creative industry, INK wants to offer the artists more security of content and bring the financial benefits directly to them without intermediaries or the threat of piracy.


Zhai highlighted the pitfalls of the Internet revolution for those in the creative industry, suggesting that its early promises had been broken. While it did make music, art and literature freely available, the Internet is also largely insecure and creative copyright is hard to enforce. Much content and revenue due to the original creators are currently lost through pirating and unlicensed "acts of infringement" which take place online.


INK's proposed new blockchain distribution network would maintain copyright ownership, while the P2P (peer-to-peer) nature of the technology allows direct compensation from fans and supporters to less well-known artists, cutting out third-party publishers. The project will work on a token issue related to the artworks, transforming each piece into an asset for public investment. Having raised $65m in their November ICO, INK expects their first system to be launched by the first quarter of 2018.

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