A Micropayment Ecosystem for Online Content
Welcome to SEN, a new project headed by Enfour, Inc. in Tokyo, that started in May 2018.
SEN combines cryptocurrency, micro-payments, and a copyright clearinghouse to allow creators and rights holders to be rewarded fairly and efficiently.
“SEN replaces the web’s advertising model with cryptocurrency micro-payments,” said Richard Northcott, president of Enfour and the team lead on the SEN project.
Currently, there is no multi-platform method for online content payment at a granular level. Advertising revenues go to middlemen. Copyright royalties are for big names only. The existing copyright fee collection system is antiquated.
SEN’s innovation is in combining copyright with cryptocurrency to enable smart contract payments and allowing sub-cent micropayments for very small purchases.
Our aim is threefold:
- Offer a mechanism for independent creators of everyday content to be rewarded;
- Create an ad-free, pay-as-you-go system that respects consumers’ privacy and data; and
- Revolutionise copyright royalty through the magic of smart contracts.
Who is it for?
Four separate audiences benefit from SEN’s micro-payments and content clearinghouse:
1. SEN will allow independent creators to reap rewards for their selfies and memes, as well as their more substantive creations like original music, photography, ebooks, and videos. Registering content in the clearinghouse reduces risk of unattributed use.
2. For rights holding organizations and corporations, SEN creates a fast and efficient payment flow with blockchain smart contracts. A record label can, for example, create a smart contract that divides royalties among all of the parties under contract and pays out all SEN sales on a daily basis.
3. Social media, gaming and other content-serving platforms will be able to use SEN for premium features, ad-free service, or in-platform purchases. Or they can set up SEN as a rewards or loyalty point system for frequent contributors.
4. Consumers will use smart contracts to set spending limits, manage recurring subscriptions, and so on. Wallets can be refilled with SEN directly or through prepaid cards.
The SEN launch is planned for Q1 2019. Micropayments and the copyright clearinghouse will come online in mid-2019. Keep up with the latest information on our website, https://sen.io
