Introducing Storichain

Please describe your project in 3 sentences.

Story Creation is Mining. Enjoy Writing, Get Crypto! Narrative Story Creation & Trading Protocol that helps readers, storytellers, and producers grow story asset together, and get weekly compensation, buy & sell Story IP (Web novel, Screenplay, Drama Script, We Cartoons IP)

Please tell us about the founding teams’ background as well as any relevant experiences

Founding team members are basically from tech side, who has experienced over 15 years building 1M Apps twice such as Camping talk Beauty talk in JTBC plus development team. And our team consisted, not only tech team but also creators like Jung Yoon-chul, director of a movie “Malaton” with 4.5 million viewers, and Science Fiction writers like Kim Chang-Gyoo. Most creation member from Korean National Univ. of arts, most of tech member from Seoul National Univ. In short, we can say that Tech and Creative teams are married.

What is the biggest problem that you are trying to solve and why solving this problem matters to you?

“High Trust-Cost still Unsolved in story industry”

Creation Contract between Trustless Parties.

In story industry market, which is worth 115 billion dollars, is all a contract that takes place on offline. Why couldn’t this market be online? It is impossible to sign a creative contract with notarized non-face-to-face.

The solution that the industry needs is to be able to contract creative transactions between people at a distance, with feeling of security about stealing ideas. Without that, story creation ideas that could be a movie, drama one day, cannot trade in online, cannot grow market size.

With blockchain features that give notarized agreement effects, we can solve some sort of that pain point.

In legacy offline market, the return on the consideration to reduce the cost of trust was an agency fee of 15%. Onlined Market with a blockchain will allow you to make more deals with lower fees. Think about it, it is still not online because of the high risk of idea stilling.

How decentralized is your project and why is decentralization or blockchain essential to the success of this project? Will a centralized solution solve this problem just as well?

First,

decentralization is 50%. The original story text is stored on the central server and the IPFS . However, creative contribution data, creative workload measurement data, and creative growth graphs are stored in Smart Contract within a decentralized solidity language.

Second,

if we don’t become decentralized, we won’t be able to create a creative contract looking at future revenues. For example, if a original writers writes a drama script and promises a certain share of future profits to a translator, and asking translator to translate the original story, and then, who the hack of translator can believe in contribution data that could possibly be falsified?

If you need to create a creative contract on a centralized server basis, you need to create an escrow with a third-party trust organization, which is more expensive than effectiveness.

Third,

With a centralized server and a centralized agreement, we can also create a business model. We can sell novels, scripts, premium subscription tickets for web Cartoon, and reaction tickets, which are in the scene by scene.

But if we do that without decentralized, we don’t have the philosophy “Creation is Mining”.

Without decentralized token economy, We need more writers to create good stories with small wages, and this is going to be a labor-intensive business structure that requires management of writers who write quality stories in a short time. And that’s the end of the day, taking with you the existing problems that legacy content provider companies are having.

If we don’t do value management, we shall be in management of competing in price.

Fourth,

We believe that the sovereignty of the contract of creation should go back to the author.

Many new artists have contracts that hand over almost every right. One story intellectual property has a secondary copyright to be sold in various countries, various formats. But new writers have an unfair contract to hand over all these rights to Middleman. The reason is that middlemen haven’t been able to address the risk of investing in “uninterested writers.”

We’re trying to solve this problem by reducing the risk of the production company by compensating them with a special logic called growth graphs, and by allowing them to translate and sell the story intellectual property that has not been sold into a multi-country market.

How would you define/measure the success of your project? How do you plan to make money?

1. Real GDP: The amount of story that produces a growth graph

2. Price: The price of crypto-token that is staked on the stories.

3. Velocity: Number of items consumed by crypto-token

** We will make money from IP selling fee, but also with the GAME of story creation.

*** Where to Use:

Reaction ticket, subscription, creative template purchase, story verification ticket, intellectual property stake purchase, contract negotiation right, crypto character purchase and Story Trade Contract Fee!

** What is the digital items to Sell?

(1) Contract Fee : When a Vietnamese writer sells a scenario to U.S. production at the minimum recommended price of the American Writers Guild, Storichain earns $4,359 in 7% commission revenue if he sells the scenario for $62,277 with an Smart NDA contract. How many does this deal frequency happens? So we have revenue model for populations.

(2) Reaction Tickets : Story Readers can buy and spend in story to interact every scene.

(3) Crypto-Actor : crypto-kitties interbreeds with each other, but our crypto-actor don’t have sex with each other. They are casted in drama, screenplay and interact with readers. Readers can buy crypto actors and writers can buy and cast actors in their story script.

(4) FREEMIUM tickets : Readers can read 50 stories a month without any paying. Writers can write and add paid reaction button into theirs stories.

*** Why do writers have to use our story creation tool?

- Real-time, notarized proof of creation that collaborators can trust.

- Writers can manage Story Asset Value Chain (Tracking how many times referred, re-used, read, distributed… just like github)

- Writers can reassemble the story material.

What are some of the obstacles you see in this project and how do you plan to overcome them?

(1) Ethereum Transaction Fees

- To overcome the Ethereum Fees we will use SIDE CHAIN technology.

We developers like Plasma Projects, but it’s still not on pratical use stage.

So, we found another solution, such as PoA based chain and such as L******

We don’t need high TPS, 3000TPS is enough, because we seperated the contribution data realtime, dailly, weekly. We will anchor the datas to the ethereum weekly.

(2) Governing & Abusing Detection

- What is fun story? How can we give more compensation to real fun story? We will solve the problem by using the Growth Index and the algorithm that uses a shelling point.

- We have tech solutions and community solutions called SPARAZZI for abusing creation.

(3)The public perception that intangible assets become money.

- Why should only agricultural produce and meat livestock be managed?

Why was it impossible to manage the uniqueness of story assets, to jointly manage usage, and to distribute them so that secondary works could come out in an age when intellectual property became money?

- We will solve that problem with real reference by a story that created in storichain creation tool. First reference is ready.

What are your competitors in the crypto and non-crypto space?

In the crypto space, that could be Augur, Review-based social protocols.

In the non-crypto space, the wat***** (MAU 6.5 Millions) the Wa***** attracted $51 million in additional investments from several venture capitals, including Tencent, China, in January, and surpassed $100 million in total investment. At present, Wa*****’s corporate value amounts to 400 million dollars. Wa***** is also a flagship company that shows the potential for success in content businesses beyond the web-fiction platform, where people can simply post and read for free. This is because the writings on Wa***** are being reborn as movies, books, and TV shows, creating a second value.

What is your competitive advantage over other projects trying to solve similar problems

• Developer experience that created a lot of app services with practical coding
• Film industry stakeholders network & partnerships
• GI algorithms that can create the intrinsic value of crypto
• Number of story production that enables crypto to be consumed

What is your go-to-market strategy?

First, through industry-academic cooperation with universities such as KNUA, 40 movies and animation departments will be provided as blockchain-based story creation tools.

Second, token distribution, token distribution through MOUs (Hanbitco etc)

Third, SF Writers Association and Cartoon Association to recruit creative writers

Fourth, produce and distribute fanfic with KPOP star to Southeast Asia and Brazil.

Fifth, promoting support for production of movie scenarios through Lee Jang-ho, Jung Yoon-chul, and Bong Man-dae (movie directors are constantly being excluded).

We will enter the market by showing popular use cases of crypto.

What is the roadmap for your project? Please including specific dates and milestones if you have them. Please indicate where you are now.

2017 Q3 — Concept IDEA

2017 Q4 — Team Core Building

2018 Q1

- Establishing Business Model

- 1st Draft of Storyboard

- 1st Draft of Eco-System and Entity Develop

- MVP Design

- Web Publishing

- Getting Award as a startup : Won Grand Prize Award from Bithumb Startup Contest.

2018 Q2

- Prototyping

- Concept Demo Video

- Contribution Architect

- Web Application (Centralized Based)

- 1st Core Smart Contract Architect

2018 Q3

- Token Contract and Admin Pannel

- Seed Creator Invitation

- Gettig Award at Hackerthon : Won the 1st Prize in Dora Hacks Global Hackerthon

2018 Q4

- Developing MVP, Closed Open

- Creator Eco Experiment

2019 Q1

- MVP Renewal (WE ARE NOW HERE)

- POC as an Alpha Service Launching (Centralized Based)

- 2nd Core Smart Contract Architect

- Partnership with Entertainment Production

2019 Q2

- Listing

2019 Q3-

- Beta Service Launching (dApp)

2019 Q4

- Storichain Open API Launch

- Making Reference of Musical, Drama script selling

2020 Q1

- Storichain Protocol Planning