industrial story problems through the characteristics of the blockchain. The term 'Story Industry' refers to the industry that uses it
'Stories' as a source of their products and cover fields such as film, drama, web novels, web drama, drama, musical, and
radio drama.
At present, the market size of the global digital content industry is close to 1.4490 trillion 1) and is expected to increase
maintain a high 10% growth rate for the next 5 years to reach the mark of $ 2.4 trillion by 2021. In the case of South Korea, the market
Its size is around 14.5 trillion KRW.
Defining Story Industry
A. Story with a Narrative The 'Story' defined in the story industry refers to stories that have a systemized structure of introduction-development-turn and conclusion. That is, it refers to a story that forms a plot based on the causal relationship between the main character and the event. This is also called 'storytelling' or 'narrative' in other terms. The reason why Storichain focuses on stories that have narratives is that among many types of Intellectual Properties (i.e., design trademarks, patents, literature, etc.), 'stories' are a type of IP that can draw a growth curve according to the efforts of participan
B. Industrial Value and Scope Although 'storytelling' has a long history with the development of mankind; it was not long before when we have paid attention to its potential economic value. Even in industries such as publishing, movies, and broadcasting, which are literally based on those stories, cultural values have been considered more important than the industrial aspects. When a 'story' with a well-structured narrative meets the Smart Contract technology of blockchain, it can be transformed into a 'story asset' which has the potential for securitization . The Storichain project seeks to research and develop 'stories' as a type of intellectual property that can be securitized. The story industry can be defined as an industry that encompasses the work of story creators and the activities that utilizes the created stories for different uses. In 2014, defined the story industry as an 'industry that generates added value through the products and businesses that are based on the investigation, discovery, planning, development, creation, distribution, and transaction of stories, which are considered as the source of imagination and creativity.
Problems of the Story Industry
A. The Problem of Allocating Excess Earnings to the Creators of the Story Industry
even if the generated value added exceeds what is attributable to the marketing or infrastructure, the original creator of the story, who has not been able to gain the upper hand in the contract from the start, was unable to receive proper compensation through clauses such as 'running guarantee.' As a result, the distributors become the middleman who inevitably monopolizes the excess revenue throughout the entire process. Even if a derivative work is made out of the original story and generates excess profit, there is no reliable quantitative data to prove the contribution of the original story creator in the event of a conflict. In order to use such data in the event of a conflict, the data must be verified as not falsified or manipulated being stored. So far, the individual distributors had negotiated directly with the story creator, and even if they were willing to share the excess profit with the creator, they could not find the proper quantitative data to confirm a reasonable profit-sharing method. Due to this lack of reasonable system, the story creator always had to struggle making a living even when they had a track record of success in the past, making them agree to unfavorable terms during new negotiations. A summary of the story industry's overall process is shown below.
B. Efforts to Improve the Treatment of the Creators
The best solution available at this point to solve this problem is to store the entire creation and transaction process by transferring it into a form of verifiable data, ensuring the trust among participants. Until now, a third party such as an external agency had to participate in the process to guarantee the trust between the stakeholders of the transaction. However, for paper contracts, it was still a different matter to guarantee trust and to force payments/services between the parties involved. Even in the case where two authors signed a notarized contract to co-write a web novel and to split the profits at 7:3, it was hard to force the payment (in this case, split of profit) without going through a complicated process of law enforcement. If the amount of money to be paid is less than the cost that occurs during the law enforcement process (legal fee, etc.), the writers are likely to forfeit their rights. What will happen if we can use the Smart Contract technology of blockchain to code the terms of the contract, and even use the code to find out whether such terms have been fulfilled? It will now become clear that securing trust in the story industry is no longer a matter that we can achieve by simply relying on the efforts of the government or certain groups. Of course, this new experiment will involve a considerable number of research tasks to be carried out, such as identifying the difference between the code language of Smart Contract and the natural language, and finding out whether it has legal validity. Moreover, even when it becomes 'technically possible,' we cannot guarantee that the entire idea will become entirely practical. Also, there are a lot of things that we cannot solve with technology and requires thorough discussion among the stakeholders in the industry, easily put; there are still a lot of ways to go. To take the first step of this long road, the Storichain team set these two research tasks as the basic core for our future development:
- Measuring the author's writing workload,
- Off-chain/On-chain information trust agreement. However, we are also aware that these kinds of researches alone cannot lead to real contributions to the industry. In the end, we believe that we could contribute to the industry after developing a service platform with a UI/UX that maximizes user convenience on top of an actual operating code.
Market Prospects
Japan's Ministry of Economy, Trade, and Industry predict that the blockchain-based content market will be worth 130 trillion 1 KRW by 2020. When limited to the transaction of the copyrights to approve production of derivative work based on a story such as movies, dramas, webtoons, and web novels, the global market is expected to be 45 trillion KRW, and the Asian market is estimated at 12.5 trillion KRW. Meanwhile the Chinese webtoon and movie market is showing an explosive growth rate, doubling the size every year. The digital film market is estimated at 44 trillion KRW, of which less than 1% raise production costs through crowdfunding. [Digital Cartoon Market Size and Prospect by Region]
The number of feature films worldwide in 2017 was about 7,000. Of these, considering the scripts that are currently in the preproduction phase and the idle ones, the number of IP transactions of scripts is estimated to be more than 7 times the volume of actual films produced, almost reaching the 50,000 mark. Expanding this calculation to the script trading market for derivative works such as dramas, comics, and novels, we can estimate that there are currently about 400,000 scripts being traded offline on a yearly basis. Regarding the size of the market, if blockchain technology can enable trust-secured online contracts, it can be a market with excellent growth potential. [figure : Global Digital Cartoon Market and Prospect]
Why Blockchain?
A. Why should the Story Industry utilize Blockchain? So far, most of the content-based blockchain projects have stored the 'Text Data' of the story inside the blockchain. However, Storichain does not store the original text data of the story within the blockchain. This is because Storichain considers the contributions made to the creation & transaction stage and the ownership transfer of the stories more than the text/image data of the story itself. In reality, nobody can prevent a person from capturing/spreading text content, since all they have to do is take a photo of their monitor and spread that photo to anywhere they want. So, rather than simply preventing such acts, Storichain thought that it is more important to prove the value of the creator's efforts by systematically measuring who contributed to the story, when and how they have contributed, how the ownership was transferred, and how much each creator contributed to the story in case of collaboration. Storichain refers to these kinds of data as 'Activity Metrics.' Since the activity metrics are used to distribute the profits accumulated by the story, it must not be falsified or manipulated. Also, the activity metrics are also used as a basis to calculate the growth index, which is used to determine the basic asset value of the story. This will be the basis for distributing profit. Therefore, the reasons why the Storichain Project uses Blockchain can be defined as the following: Storing the 'activity metrics' Storing data of the ownership (copyright) transfer of the story Storing the terms and conditions of payment Problems in the story industry that is hard to be solved without Blockchain Contract for 'Story Idea Creation' between trustless individuals (non-facing) Contract for 'Transaction of Intellectual Property of Stories' between trustless individuals (non-facing) Confidence of the payment of writing fees for the author, based on monitoring results Measurement of asset value based on story creation and monitoring results Multilateral agreements, notary, and copyright trading based on measurement results Proving the efforts put into the work based on contribution history Online, non-facing creative activities The issues presented above are not 'completely impossible' to solve without blockchain technology. However, in the absence of blockchain technology, the costs will be significantly higher since the participants must utilize third-party trust organizations.
B. Application of Blockchain in Storichain
There are two kinds of intellectual property rights for stories. The first one is the 'Master Rights' which has the concept of ownership, and the other one is 'Publishing Rights' which is operated under the concept of licensing. If the owner of the story decides to 'share' a part of his ownership with others, the story is highly likely to become a 'common good,' allowing others to create derivative (secondary, tertiary) work using the source story. For example, the Bible and the Koran are a type of 'story commons,' which allowed the creation of numerous stories derived from its original story.
C. Summary of Solving Problems within the Story Industry using Blockchain Characteristics
System Architecture
A. System Configuration The main chain is developed with Ethereum, and the side chan is developed with Luniverse. Used Standards Utility Token ERC-20 Story IP Contract ERC-721 and ERC-1155 Web Application of the Central Server Main language for Back-end: .NET C# Front-End : JQuery, React
Application Layer A web application for the user to create, consume, trade, and fund story contents Middle Layer Provision of a third party support development kit for the story industry businesses. The service layer providesthe expansion of the Storichain the dApp and contribution to the story industry Blockchain Layer Decentralization, token management, evaluation of contribution, settlement, coded contracts The development platform and communication protocols of the middle layer are referred to as 'Storito.' The blockchain layer does not include the original text of the story; it only contains hash data. The main role of the blockchain layer is to store the creative activity, reaction, and support contributions of each user –that will be converted into the users' liquidation value- without falsification or manipulation. The Smart Contract of the blockchain layer enables safe payment when the mutual agreement based on the contribution of each user by their roles are met.
The scope of business associated with technology development Open Stori / Pro stori/ Viral Stori ) is the basis for token mining. The 'Trading' and 'Fundings' menu are the ones where the story is distributed. For the Storichain team to take care of all these tasks would be too hard, since the range of the business can be too large based on our ability to raise funds. So we are planning to create a reference dApp centered on creation services, which is our base technology. We will also invite partner companies to participate in our project as a third party dApp. Moreover, we will provide SDK, API in a license form to the content providers who are already a part of the content business. We will make it clear that we are not interested in building a blockchain mainnet. Because there are so many platform coints that are already doing so well in this area, the Storichain will focus on entering such platforms as a dApp. However, for business, we are going to attract third party dApps by providing SDK and API. This means that we will host a variety of dApps while not creating a mainnet. In that sense, the Storichain makes the contract terms of the story industry using a Smart Contract. This is a different concept from creating a mainnet and creating protocol, which is a communication code between nodes. [Figure. Layer location of the main logics]
B. Activity Metrics Activity Metrics are used to create the Growth Index. Activity metrics use the Stori Elements Model (SEM), which holds story components such as scenes and lines as object structures for calculation, and is sent to the VL, a value-storage property that measures the labor time for each factor. Finally, it is expressed in the form of growth index. The contribution weighting logic for each activity metric will be adjusted and determined through the Alpha Service to the Beta Service in order to find the appropriate level for the ecosystem. (The following table is an example. VL stands for Value of Labour. Refer to the technical Yellow Paper formula shown in this white paper to find out about the measurement formula)
C. Flowchart Creation of basic story -> Creation -> Reach Growth Index -> Profit Generation -> Settlement based on contribution
D. Measurements
SE (Stori Element) The following figure shows an example of an SEM. Each element of the SEM is generated by the activities of the users mentioned in the example above. All of these objects have been defined as SE (Story Element). From the Stori, which is the root object within the Storichain, to the smallest elements that consist of a Stori, all of these objects are considered as a type of SE. (Figure. Example of an SEM)
GVL & CVL & DP As 'creation' is an activity which requires an immensely difficult task of creating something out of nothing, it is also hard to say that every SE (excluding the Stori itself, which is the Root SE) is solely created based on the resources of a single user. For example, if a reader left a comment about a scene (heading, chapters in case of novels) that was dissatisfying, there might be a lot of reasons why the reader felt dissatisfaction (i.e., didn't like the dialogue, didn't like the behavior of the character, didn't like the narrative, etc.). But regardless of the reason, it doesn't change the fact that the reader was 'able' to feel such dissatisfaction because the scene 'exists,' and the reader read the scene. So, it is safe to say that the existence of the scene contributed to the creation of a comment. Based on this perception, we have introduced a rule to the Storichain ecosystem that a certain portion of VL spent on the production of a specific SE must be delivered to the parent SE. To do this, we created the concepts of CVL, DP, and GVL. CVL (Creation VL) refers to the creation cost that was spent by the user to create the SE. As previously explained, a certain portion of the CVL will be allocated to the parent SE, and the remaining VL will be assigned to its own VL, and during the process, the VL that is delivered to the parent is called DP (Devotion Point), and the self-generated VL is called the GVL (Generated VL). DP is calculated by multiplying CVL by a specific ratio, and this ratio is called the distribution ratio (dr). This concept can be expressed as the equation below:
Token Economy
!Caution - The following token economy concept may be misleading without exact modifiers or codes. Therefore, it must be reconfirmed through the technical yellow paper, which will be released in the future, or the code. Also, the contents presented in this section is highly likely to be changed after service launch, while finding the method that fits the requests and needs of the community. Please understand that this is a comprehensive concept of the token economy that the team has been working on. Some concepts that have to be protected as a part of the intellectual property right has been excluded from this section. The etherium ERC-20 token in the Storichain is referred to as TORI. TORI is a utility token that can be used for a variety of services that are provided in Storichain's dApp (i.e., purchasing creation templates, paid reactions, support, etc.) It is designed to adjust the amount of currency in the market based on the value of the product (story)
Based on the image above, the ownership of the story can be compared to the potato. With permission from the master writer, you can fork the ownership and grow your own set of potatoes by creating your own story. The reader's contribution corresponds to the sunlight shining on the story tree, and the writer's contribution can be compared to the act of watering the tree. When the producer makes an investment, he/she has the authority to verify the story, which can be likened to giving the story tree a nice amount of fertilizer. As the three different user groups help the story grow, the activity metrics will be accumulated, and the growth index will be increased. This can be compared to the tree growing in size. In addition, if other content providers create third-party dApps using a pre-built Smart Contract (SDK - Storito Protocol), which is the contract protocol for Storichain, this can be likened for the people getting new pots that are planted with story trees
Token Allocaton & Distribution
Characteristics by token issuance pool Team Pool: Team compensation (Lock-up : 2 Years after listing) Advisor Pool: Advisor compensation (Lock-up : 1 Year after listing) Marketing: Paying community marketing fees / Airdrop compensation Production Pool: Partner Production companies (Lock-up: 6 months after listing)(1/36 vasting) Company Pool: Owned by the operating corporation Reserved Pool: In case a governing issue occurs, can be issued max 3 times/year. Eco Pool: A pool that is only recharged / air dropped / compensated by the Smart Contract. A portion of the inflated pool will be recharged into this pool. AirDrop Pool : Bounty for community building event Initial Sale : Sale and distribution by exchanges Sale B : Sale on notice when complete our goals such as Beta Service Launching Sale C : Investment attraction pool for institues which contribute to Storichain.
SALE Summary 1 TORI = around 0.0034~0.0035USD Initial Sale : 600,000,000 TORI Sale B : 420,000,000 TORI Sale C : 360,000,000 TORI Public Distribution
Team Members
Important Legal Notice & Exception Clauses
Since the white paper has been written at the time when vision planning was done. The contents of this document may be modified, corrected, or changed without notice during the thorough planning or the development phase. The purpose of this white paper is to provide directions for the specific planning and development of the project and cannot be used as a basis for attracting investments or the basis for the investment itself. This white paper does not guarantee accuracy up to the level of a system planning document, UI design document, or an ERD. It should be used for a guideline to explain the direction of the entire project. Even though there when a financial loss occurs due to the act of corporates or individuals influenced by this document, the Storichain team shall not be liable for compensation, payments, or any other responsibilities. This white paper cannot be arbitrarily modified, distributed, or promoted. For such use, prior consent from the Storichain team is required. This white paper is an intellectual property of the Storichain team, and cannot be modified or copied without permission. The term 'team' refers to the team members who had made a project contract with the Storichain, advisors, Storichain Foundation (when established), and the employees, executives, director of the board, and the shareholders of Scowork Co., Ltd, the development/operational company of Storichain. The content of this white paper can be modified without notice to comply with the regulations of the country in which the Storichain team is based and the autonomous regulation of the blockchain association. The team members and advisors specified in this white paper shall wish the project's success under the contract stating their contributions, rewards, obligations, and responsibilities, and is obliged to be part of the Storichain project based on the 1. National IT Industry Promotion Agency : 2017 digital content market report↩↩ 2. 2017 Story Industry Research Reports. KOCCA↩ contract which states at least 2 years of contribution and ethical responsibilities
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