Storichain is a global project that provides a partially decentralized dApp and a shared protocol for the story industry to solve the problems of the story industry through blockchain characteristics. The term ‘Story Industry’ refers to the industry which uses ‘stories’ as a source of their products and includes areas such as movies, dramas, web novels, web dramas, plays, musicals, and radio dramas.
Currently, the market size of the global digital content industry is nearing 1.4490 trillion 1 ) and is predicted to maintain a high 10% growth rate for the next 5 years to reach the $2.4 trillion mark in 2021. In the case of South Korea, the market size is about 14.5 trillion KRW.
However, despite the rapid growth of the market, the industry still has many problems left to be solved. One of the biggest problems is that the story assets (source stories, scripts, novels, webtoons, scenarios, etc.), which is the foundation of the entire industry, are only being traded on an offline platform due to idea theft issues. Currently, almost the entirety of the transactions is made offline between people who trust each other. In this regard, Storichain can be considered as a digital story asset management system which allows the individuals to make transactions online even with non-trustable people by making an ‘idea theft prevention contract.’ One other problem within the industry is the issue related to ‘profit-sharing.’ For example, the webtoon industry, which is one of the biggest story-based industry in Korea, had already exceeded $700 million in market size, but there are
still many people questioning the profit-sharing structure of the industry, and many content creators are still having a hard time on receiving sufficient compensation for their work.
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.
Storichain begins by placing a token's value base on creating stories, which ultimately wants to reduce the cost of trust between the participants in the story industry — writers, production companies, and readers. In this way, Storichain will make the process of creating a derivative work from source material more transparent, deciding the injustice that exists in the industry and creates new values.
The Storichain project aims to explore and develop "stories" as a type of intellectual property. The industry of stories can be defined as an industry that includes the work of the creators of stories and actions that use the stories created for various purposes. In 2014, Story Stories identified an industry that creates added value through products and enterprises based on research, discovery, planning, development, creation, dissemination, and transmission of stories that are viewed as a source of imagination and creativity.
Storichain does not store the original textual history data in the blockchain. This is due to the fact that Storichain takes into account the contribution made at the creation stage and the transaction, as well as the transfer of ownership of the history more than the text / graphic data of the story itself. In fact, no one can prevent a person from distributing text content, since all he needs to do is take a picture of his monitor and distribute it to any place he wants. So instead of just preventing such actions, Storichainconsiders it more important to prove the value of the author’s efforts, systematically measuring who contributed to history, when and how they contributed, how ownership was transferred, and how much each Creator contributed to history in the event of collaboration.
Token Allocation & Distribution
Storichain utility token is named as TORI. All on chain transactions/funding will be done using TORI. It is an Ethereum ERC-20 token. It has high utility and value within the ecosystem and can be used for various services and can allow owners to buy digital items and voting right within the network. This token can be bought from a listed exchange and can be utilized in the Storichain dApp.
Coin Statistics are as follow
Initial Supply: 4,000,000,000 TORI (4 billion token issued initially)
1 TORI = around 0.0034~0.0035USD
Sale:
Initial Sale 15% 600,000,000
Sale B 10% 420,000,000
Sale C 9% 360,000,000
Conclusion
Based on the data and facts seen, Storichain is very good for review and investment. This is based on reality for now, many projects are not good, and makes everyone who invests a lot of questions about their certainty and truth, so if you want to invest in this project, you should read all about the article I made, so you can find out more about this project from them.
For More Information Storichain :
Website: https://storichain.io/
Telegram: https://t.me/storichain_en
Twitter: https://twitter.com/storichain
Medium: https://medium.com/storichain
Facebook: https://www.facebook.com/storichain
Whitepaper: https://drive.google.com/drive/folders/1s902dyb4msuSu4dcg-9tlqE8vVcxC2Kb
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