Overview of the Storichain Company

Storichain is a project that provides a partially decentralized dApp application and a general protocol for solving the story industry problems using blockchain characteristics. The “story industry” refers to an industry that uses “stories” as the source of its products and includes areas such as films, dramas, web novels, web dramas, plays, musicals and radio shows.

Storichain can be viewed as a digital history asset management system that allows people to make online transactions even with unreliable people by entering into an “agreement to prevent the theft of ideas”. Another problem in the industry is that of profit sharing. For example, the webtoon industry, which is one of Korea’s largest plot-based industries, has already exceeded $ 700 million in market size, but there are still many people who doubt the profit sharing structure in the industry, as well as in many materials. Creators still have difficulty getting enough compensation for their work.

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.

Storichain calls this kind of data "activity metrics." Since activity metrics are used to distribute profits accumulated by history, it cannot be falsified or manipulated. In addition, performance indicators are also used as a basis for calculating the growth index, which is used to determine the value of the main asset of a story. This will be the basis for the distribution of profits.

Storichain followed the blockchain technology, which provides trust between the participants and extends its borders to unforeseen territories. Blockchain provides trust beyond borders and ideologies, helping many industries simplify the problems they have faced in the past and offer new solutions. Storichain seeks to embed the blockchain into the storyline industry in order to create a world in which all participants can be satisfied by taking part of the responsibility. To implement this philosophy step by step, the company has now accurately identified the current industry problems in order to find new solutions.

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