UIP-Future Copyright Introduction Details
Through the traceability, distribution, hard-to-error correction and other characteristics of the blockchain, as well as technologies such as hash algorithms, asymmetric encryption and substitution, as well as the support of millions of commercial transactions, low latency and free of charge combined with the EOS operating system, the future Copyright is committed to providing global general entertainment IP copyright holders with a one-stop entertainment copyright smart service that includes copyright storage certificates with polarity conversion, copyright certification, copyright registration, copyright transactions, online rights protection, and content incubation.
The UIP project is still in its infancy and there are many risks:
1. The new model proposed by UIP is a challenge to traditional giants, which may lead to various resistances. Whether it can grow up and survive quickly, we can only wait for time to come to a conclusion;
2. The success of a new business model requires the baptism of the market. We can only judge from a logically self-consistent point of view, but no one can accurately predict the future;
3. The valuation of UIP is quite high. It is estimated that part of the high valuation is due to the need to purchase IP, just like Li Xiaolai's purchase of copyright for the pressone project, but because of the high valuation, investors who want to make short-term speculation may be disappointed;
4. The research and development is mainly undertaken by the Taiyi Cloud Technology team and guided by the eos team. Although the division of labor and professional cooperation is the trend, after all, it increases the communication cost and there is a certain risk (the team also has blockchain technical personnel, which can be moderately reduced. risk).
Business Model of Future Copyright Trading Platform
The business logic of UIP can be defined as four layers as a whole, namely 1. IP digital copyright confirmation; 2. IP and IP derivative copyright transactions; 3. IP copyright rights separation; 4. IP rights sharing
1. Confirmation of digital copyright
The traceability and difficulty of tampering with blockchain technology will make the confirmation of digital assets very simple:
a. The user uploads the digital file that he wants to store to the UIP system, and UIP will generate a user block and calculate its hash value;
b. UIP records the root hash value of the user block Merkle Tree in the block anchoring the blockchain;
c. UIP broadcasts the root hash value of the anchor block Merkle Tree to the blockchain through transactions.
Through the above mechanism, UIP will minimize the cost of user deposits while ensuring that the deposit data is broadcast to the public chain, thereby ensuring that its deposit data is difficult to tamper with by any individual or organization.
2. The traditional trading model of future copyright trading platforms
In the process of IP copyright asset transactions, we provide traditional customers with the right to freely choose, that is, they can choose a centralized transaction method and use traditional legal currency as a medium for asset transactions. At the same time, the future copyright trading platform will act as an intermediary to charge a certain service fee, and distribute part of the service fee through UIP tokens in proportion to all users holding UIP.
The advantage of this traditional model is to ensure that traditional customers can effectively avoid transaction risks caused by UIP price fluctuations, but at the same time they also lose the right to issue IPUnit on the future copyright trading platform.
We recommend forward-looking clients who accept future copyright forms to adopt a new disintermediation UIP asset trading model, which will be rolled out below.
3. Future copyright trading platform copyright transaction and split economic model
3.1 Basic principles of creating economic models
In the atomic world, the transaction of assets involves the transfer of the physical assets themselves and the right to use them together with the credit intermediary. The emergence of blockchain has brought us into the era of quantum economy. Digital copyright is human digital assets. The ownership and use rights can be stripped off, and the use rights can be infinitely subdivided. At the same time, under the distributed credit mechanism of blockchain, humans can realize the disintermediation of transactions in the process of trading digital assets, thereby greatly reducing transaction costs. The characteristics of the free separation and reorganization of digital assets in the quantum economy exactly coincide with the uncertainty and richness of future copyright forms.
However, under this model, the split and free trading of digital assets will cause confusion in the real world, such as disputes caused by overlapping rights after the split of copyright use rights. Therefore, it is necessary to introduce smart contracts on the blockchain to establish the necessary consensus to make the UIP economic model successfully operate in the real world.
3.2 The future copyright trading platform disintermediation transaction consensus model
Transfer of IP usage rights: When there is more than one IPUnit holder of IP, the usage rights of IP will comply with the following rules. All holders of IPUnit will abide by this rule by default, which will appear in the contract signed by both parties by default. In, protected by contract laws of various countries:
1. The initial use right of digital assets will belong to the creator of the earliest deposit certificate, that is, whoever deposits the certificate owns it;
2. Once the digital assets are confirmed, the uploader's digital assets need to be authenticated by the Autonomous Committee before they can be traded to prevent plagiarism and other situations;
3. When one party holds 51% of IPUnit, this party has the right to use the IP and derivative rights; the derivative right is the right to ensure that the original IP generates derivative IP use rights;
4. When one party has the right to use IP, it can reduce the proportion of IPUnit held by it to less than 51% with the consent of the original author, but at the same time it will lose the derivative right. Until any participant in the UIP market regains 51% of the IPUnit, that party will obtain the right to use and derivative rights of this IP, and the right to use the original right holder will be automatically cancelled after one year from this moment;
5. In order to avoid the situation that the use right is owned by multiple parties at the same time, the holder of IPUnit needs to be cautious about its selling behavior and be responsible for the subsequent results. When multiple parties have the right to use IP at the same time, that is, when IP ownership is exclusive but the use right is shared, the UIP platform considers it reasonable and has practical application scenarios;
6. The party holding 51% of the total number of digital assets will have the right to split the asset into sub-assets, but this right must be carried out under the following conditions:
a. The generation of new assets must be transformed from a part of old assets, and the right to use assets represented by them still follows the 51% rule in this consensus;
b. When and only the holder holds 100% of the new assets, they can be destroyed, or restored to the parent chain, or a new chain can be generated; the new chain needs to go through the smart contract of the IP source author Choose to agree or send an application to it after approval before sending a new chain.
7. The fourth layer of the trading platform:
After the continuous splitting of IP assets and a "sharing mode" is reached one day (no party's share of assets held by no more than 51%), then any party has the opportunity to use the asset (refer to the real world famous books) If the copyright use right has been opened), all IPUnit holders who hold a certain percentage have the right to use it.
In the era of IP exclusive sharing, that is, under the condition that the original author's absolute ownership of the IP is guaranteed, the right to use is opened to those who hold a certain percentage of IPUnit, which not only protects the rights of the IP author from being infringed, but also guarantees a certain amount of use. It also greatly enriches the resources that IP can combine, so that the original author of the IP, the IP itself, and its IP holders can fully enjoy the dividends of the IP sharing era brought by the blockchain.
In order to ensure the high-quality continuation of this IP, the demander needs to submit an application for the use of the IP on the trading platform, which will be reviewed by the IP source holder and the platform community autonomous committee. The specific mechanism will be gradually improved during the construction process.
8. When an IP asset re-enters the 51% absolute use right situation from the sharing situation (for example, the company keeps inhaling and the IPUnit held by the company has changed from less than 51% to 51% or more), then before that Other IP users determined by the autonomous committee still have the right to use the IP until the specified date of the smart contract.
In theory, the hierarchical derivatives of IP can be continuously split into infinity, but in order to prevent unclear rights, such as the conflict between the sale of the derivative of the movie concert and the original derivative. The split sale of copyrights on the trading platform will still be subdivided to the actual situation.
1 Mode of operation
When a certain IP is initiated by the seller and generates IPUnit for the first time, a certain percentage of development fee will be charged; when IPUnit is traded through UIP token, a very small transaction fee will be charged for each transaction.
The value of UIP token: With the generation of a large number of IP Units on the platform and the continuous increase of IPUnit transactions, the application scenarios and transaction value of UIP will continue to expand.
2 Future industry value expectations of copyright trading platforms
According to the 2015-2019 Global Entertainment and Media Industry Outlook issued by PricewaterhouseCoopers on June 3, the revenue of the global entertainment and media industry will achieve an average annual compound growth rate of 5.1% in the next five years. The year’s 1.74 trillion US dollars (approximately 11.7 trillion yuan) rose to 2.23 trillion US dollars (approximately 15.0 trillion yuan) in 2019.
If the UIP trading platform's transaction volume can account for one-thousandth of the global entertainment and media industry revenue in 2019, then the total IP transaction volume of the trading platform will reach 14.99 billion yuan. According to the 3% trading platform transaction fee rate, the total platform transaction fee income is 450 million yuan.