What is SixNetwork?
SIX network was originated from one of the largest digital media startup groups in Korea and Thailand, OOKBEE U Company Limited +Yello Digital Marketing Global PTE LTD, and Computerlogy co.,ltd. The alliance aims to create a more transparent, fair, secured, and efficient ecosystem for all stakeholders in the digital and creative economies.
The problems in the current Digital Creative Industry
- The complexity of managing contracts and payrolls in the digital and creative industries
Intermediaries such as digital/creative asset marketplaces or digital publishing platforms usually have their own internal point-and-coin economies, which are designed to transfer revenue streams/rewards from end consumers directly to creative workers in the same economies. Although such economies are designed for more operational cash flow in the platform intermediaries , these 4 intermediaries have to deal with high payment processing fees on both ends (i.e., transaction fees are deducted from the amount paid by end users and the payments made to creative workers). These costs can be as much as 30% or more of the transaction amounts.
In addition to payment costs, legal, administration, and accounting activities (additional repetitive and people-oriented tasks) contribute to higher costs - Work today, get paid (much) later
Hiring creative workers in the digital industry requires middlemen such as creative agencies to work with business clients (i.e., brands) to manage the complex processes and provide value-added services. Middlemen, such as advertising agencies or creative agencies, are the aggregators in the creative supply chain, playing a significant role in delivering value. However, these parties are currently facing financial liquidity problems, resulting in longer payment terms for creative workers. - The segregation of the creative network
The segregation of the creative network Existing centralized platforms contain different standard information silos, preventing content creators on one platform from moving their digital assets to other platforms as freely as they
expected - The power to control of the centralized platform providers
Although many things in the digital and creative industries have been digitized and can move around quickly through the internet, platform lock-in is still the ultimate problem for all players in the supply chain. Platforms such as Youtube, Facebook, or even the Apple iTunes store are currently the main distribution channels, especially for creative workers. Although workers can make money out of the platforms, the creation of wealth is not distributed as fairly as it seems.
SixNetwork SOLUTIONS
SIX.network has developed decentralized service solutions that will ultimately create an ecosystem that is fair, transparent, secured, efficient, and sustainable for all players in the digital and creative supply chains. The sequentially related solutions are explained in the following sections.
- SMART PAYROLL
Eliminate the inefficiencies in managing contracts and payrolls as well as unfair profit distribution in the digital and creative industries
Agency and Bulk Payrolls: Excessively high operational costs for the midstream players In addition to creative and strategic planning, agencies are responsible for several campaign management tasks (e.g., negotiation, legal contract, administration, and accounting), which are people-intensive tasks. More people involved in delivering value means less profit for stakeholders and longer payment terms for creative workers.
Most of the digital content platform providers have their own point-and-coin ecosystems, so for end consumers to purchase content, they must convert cash to points/coins though centralized payment processing platforms, and these payment processing platforms take up to 30% or more of the money flowing to the agencies and creative workers. SIX.network has a mission to release both parties from particular platforms. With the Smart Payroll Solution, cash flows to the agencies and creative workers rather than being deducted by platforms that do not deliver any real value to the supply chain. Transaction fees are calculated in SIX Gas and kept at a minimum to keep the network running.
LIQUID PAY
Liquid Pay is a liquidity provider platform for creative workers (e.g., freelancers, influencers, digital agencies, etc.) that provides short-term financial liquidity for individuals in the digital and creative industries using smart contracts to control the transaction flows
How to LIQUID PAY works
Working in collaboration with Smart Payroll, Liquid Pay will assist creative workers in getting instantcash through the Instant Pay feature on completion of works assigned by registered agencies or businesses in SIX.network with minimal transaction costs. With Smart Payroll, registered businesses in SIX.network will have the ability to do bulk transfers at significantly lower costs compared to the fees paid to traditional banks and payment processing platforms. Settlement and accounting processes for micropayments will be done much faster and more efficiently.
TOKENIZATION LOYALTY AND REWARD POINTS
Customers can swap tokens to use in another business
Customers who own loyalty points from Cafe A in Korea could easily exchange their loyalty points from Cafe A to Grocery points in Department Store B when they come to Thailand. The businesses could enjoy the upside of cross-border expansion and up-selling opportunities because new customers can easily swap their slack credits for a tradable-token form. At the same time, their customers will enjoy the liquidity of the digital tokens that can be exchanged for goods and services in the real world
DIGITAL ASSET WALLET
Other digital content and digital goods could apply this vision to create a decentralized platform that allows creators to contribute and connect with their consumers instantly. The difference is on the layer of how to design the open standard and the ontology for each type of digital content with the business models (smart contracts) that could be selected, enabling creators to receive more and users to pay less, as there would be no mono/oligopoly controlling the industry. To shape a better future for the industry, the SIX.network team envisions the SIX Digital Asset Wallet as the direct connection to facilitate wallet-to-wallet decentralized commerce between the creator and the audience.
ROADMAP
ICO
Total number of tokens : 1,000,000,000 SIX
Token main sale price : 1 SIX = USD 0.1
Accepted currencies : Ethereum (ETH), Stellar (XLM)
Minimum Investment Amount : 1000 SIX
Soft cap : USD 15,000,000
Hard Cap : USD 42,905,579
Pre-Sale start : April 3 2018 11:00 (GMT+7)
Public ICO : Start immediately after Pre-ICO tokens are sold out until May 31, 2018 11.00 (GMT+7)
Token Distribution
Use of Proceeds
TEAM
Vachara Aemavat – Co-founder, Co-CEO
Vachara is the founder of Computerlogy, a leading startup focusing on the social media tools for enterprise in Thailand, with a range of products from social media analytics, command centre, chatbot, and more. He exited his first startup to join Yello Digital Marketing Group (YDMG) in 2016, where he assumed the role of Chief Technology Officer.
Natavudh Pungcharoenpong – Co-founder, Co-CEO
Natavudh “Moo” Pungcharoenpong is a tech entrepreneur with more than 18 years of experience in founding, funding, and managing technology companies. He is a founder and CEO of Ookbee, one of SEA’s biggest UGC communities, which include books, comics, music, etc. Ookbee raised more than USD 30M from various investors including Tencent and Intouch holdings in the past 4 years. Moo is also a venture partner at 500 Startups managing 500 TukTuks, a USD
15M micro-fund focused on promising Thai and SEA startups. The fund portfolio includes Omise (his first investment for TukTuks back in 2015), Pomelo (a USD 19M follow-on investment by JD.com), T2P, and more than 50 other startups in the region in the past 2 years.
Charkrid Thanhachartyothin – Co-founder, Head of Blockchain
Charkrid has built various kinds of technology startups over the past 10 years, ranging from the digital agency, web/app production house to IoT, robotic, computer vision, and hardware startups. He also founded NE8T, the first hardware incubator (and makerspace) in Thailand, which could help young entrepreneurs raise funds on crowdfunding websites and accelerate them with a manufacturing design process in China. In 2014, Charkrid founded Dolphin.io, the Mobile Wallet SDK with Cryptographic 2FA transmitting based on ultrasonic technology (sending money through sound that people cannot hear). Now Charkrid is into blockchain.
Nisanart Thadabusapa – Co-founder, Head of Finance/ Investor Relation
A challenge seeker with strong analytical skills and 8 years of rich business experience in several industries, Nisanart supports SIX.network in its successful global expansion as its Money Keeper. Before joining SIX.network, she was an international taxation consultant at PricewaterhouseCoopers (PwC) Thailand and a former corporate relationship manager at Siam Commercial Bank Public Company Limited (SCB). Engaged in several cross-border projects during her years at PwC and SCB, as well as numerous freelance investment projects, her experience will help shape SIX.network’s development strategies in any markets it enters.
Besides those fours there are many other blockchain devs with a lot of experiences listed on their website, business development as well as four team intern advisors in the fields marketing, ads, IA, StreamNetwork, Technology and finance. Looks super stable but I don’t know how many of them are working full time for SixNetwork
Advisor Board
Summary
SixNetwork is a very interesting project, and it really is a real solution in the field of Digital Creative. By using Blockchain technology, it creates other possibilities in the industry. One of the interesting things is that the concept of using the Token of SixNetwork is straightforward and straightforward. If the Digital asset wallet succeeds, we should see a broader Hardcap of 42. Millions of dollars will go out a little. But with the experience of managing money like Ookbee and YelloMobile, which includes many partners and advisor in Thailand and Korea, should make SixNetwork successful.
Important Link:
Website : https://six.network/
Whitepaper: https://six.network/documents/SIX-whitepaper-en.pdf?
Telegram: https://t.me/SIXnetwork
Twitter: https://twitter.com/thesixnetwork
Facebook: https://fb.com/thesixnetwork
Bitcointalk username: phuongphamkn
Bitcointalk profile URL: https://bitcointalk.org/index.php?action=profile;u=1867165