Blockchain has been considered as one of the key innovations in this century. But its application is still being explored, with more than 2000 projects crypto start-up born at this moment. We don't know how many of them will survive and whether they'll be able to deliver their promises, but we must accept this innovation with an open mind.
One of those new projects is Condeal, which aims to become a decentralized content delivery platform that will help content creators and customers to interact directly, solve piracy, copyright and revenue issues that are apparent on the current content market. What kind of promise and how they aim to do it?
The Problems
The era of digital content is approaching rapidly, with the possibility that every content will become digitalized in the near future. Such contents include but not limited to music, arts, video, and so on. Even right now, most of the contents were distributed digitally, which is why the sale of music CD/DVD is decreasing rapidly (maybe it doesn't even exist anymore in some countries). However, there are several problems in the current content distribution landscape which limit and affect key stakeholders negatively.
One of them is the lack of transparency in the content distribution system. Not every artist can know who bought their creation and how much they should get from that. Almost every artist rely on a centralized distributor or platform to share their creation, which in turn can decrease their revenue and increase the difficulty to start their own journey in content creation career. They are forced to trust third parties who most of the times only care about producing more money.
Statistics showing that nearly 95% music are illegally downloaded. Source: Dailyinfographic
The problem of piracy and other copyrights also exist with no real efficient and effective solution. The current copyrights law lack enforcement which makes artist got way less than they should get. Sometimes they have to agree to an unfair contract which put more revenue for the third-party distributor that doesn't contribute to the content creation, or have very little contribution over the whole career of the artist. Which is why most creators got discouraged and there is a stagnant growth in the content market. The growth on the streaming platform doesn't bring positive & significant revenue source for the artist.
On the other hands, fans can't support their artist directly. Even if they buy their music or cassette, or subscribed to a streaming platform, most of their money to go the distributor pockets. For the indie artist, which sometimes doesn't follow market trends and instead focus on creating high-quality content, it is very difficult to survive in the market. Even if they have fans which support them, money is still one of the biggest issues.
So how can we solve this?
The Solution
The root of the problems we've discussed above is the centralized nature of the content distribution. Because every distribution must go through the distributor which most of the time direct and decide which content go to the public, most of the time it is the reason why more revenue goes to the distributor and other third-parties. And because they deliver it through a medium such as DVD and so on, it is very easy to duplicate it.
In order to solve that, what we need is a decentralized market with strong security & IP protection. By decentralized market, what we mean is a market where artist and costumer/fans can interact directly. They can buy or trade content directly with the artist, or with another person who has the rights to distribute the content after they bought from the artist.
Condeal Platform preview. Source: Condeal
In order to make that solution, we need a way where an artist can sell their content and distribute it to other people, but in a way that it will never be able to get duplicated or shared without their consent. They must be able to gain revenue from any trade that happens between users regarding their content. So, in every content that they created, there must be some special identifier that basically will deliver the revenue to the artist, and probably other parties proportionally to their contribution.
If we have a platform like that, we will be able to support every creator and facilitate value creation through direct exchange, trade between users, and so on that gives every stakeholder their proportional revenue share for every process that happens on the market. The good news is, Condeal realized this idea and they aim to build such platform for every content creators.
Condeal Platform
Condeal will build a content exchange platform based on the blockchain, smart contract, and distributed storage system. DEAL, the token, will store user information and content transactions in a distributed manner. They'll use Proof of Copyright algorithm to secure their block, and in return will reward people who exchange blocks that contribute to the encryption of content exchange which in return will ensure the conservation and development of a transparent content market.
The nature of the platform will encourage contributors in a various way. If you're a token holder, you'll be able to have advanced purchase rights for content (webtoon, music, and etc) that is exclusively released on the platform. The fees from your purchase will be given to the creators, Condeal, and data security contributors as their benefits. Because of this, as users or buyers, you'll help creators to gain revenue not only by purchasing their content but also from the fees that you pay to the network for every transaction that you did.
As you can see from the image above, there will be a compensation system that gives proportional benefits to stakeholders regardless of whether the exchange happens from the initial content exchange or individual content exchange. In another word, whether you buy it first from the creators, or whether you buy it from the individual content exchange, every contributor will get their share as long as they adhere to the Proof of Contribution algorithm.
In order to be eligible, you have to contribute to the security of the platform and act as active users. Active users are someone who participated in P2P content exchange and new content exchange at least once a month. In another word, as long as you contribute to the platform, you'll have your share.
In the core of the platform, exist the DEAL Core. It manages user information and content accounts. DEAL Core is a master node-based blockchain program that is able to connect to other blockchain platforms such as Ethereum or ICON. In another word, it is an all-in-one blockchain program that you needs to run in order to access the platform, secure the network and exchange content with other users or buy from the artist.
DEAL Core will turn every transaction into a block and then store it on the blockchain. Smart contracts will allow automatic storage and allocation based on contract terms. This mean, for every transaction that you do, the fees will be automatically shared to the stakeholders based on the details on the contract terms.
Initial content registration. Source: Condeal Website
If you exchange a content or buy it from initial offering, there will be a proof of ownership that will be put into a block and stored in Deal when the exchange takes place. If the encryption key of the content on the blockchain matches your key, you'll be able to use the content. If you don't have the key that matches the proof of ownership, you won't be able to access it.
Every required information will be handled by a smart contract. It will manage important data such as content right and ownership and manages other ownership information arising from the content purchase, peer to peer exchanges and so on. The smart contract will automatically allocate fees from exchange of content to participant, as mentioned above.
Content trade between users. Source: Condeal Website
The encryption key is an important part of content exchange and rights. Every encryption key will have its fragmented version that is used as an identifier on the network and smart contract. Encryption key on peer to peer exchange or content acquisition will be snapshotted and stored on the blockchain, and when there is a match in the fragment of the encryption key and Deal and the database, ownership, and rights over the content are verified.
The Partners
It is nearly impossible to run a content delivery platform like that when you don't have any partners or relations in the industry. A lot of projects that I know in this market fails because they don't have strong partners or relations, even if the idea is not entirely bad. We can ask the same thing with Condeal. Who are their partners and it is strong enough to make the platform live quickly?
The short answer is: yes. Condeal has a lot of strong partners in the content creation industry. Even at this moment, they're already trying to make a MoU with several artists who have a big & strong user base, such as Bruno Mars, John Legend, Chris Brown and so on. It would be really great if they successfully make a deal with them. But nonetheless, the list of partners below are very promising:
Korean Management Federation
The first partner is one of the strongest actors in the content industry. Korean Management Federation has a big list of members. It has 165 major entertainment management companies in K-POP industry and 350 Partner managers with certification of Popular Culture & Arts Planning Career for more than 4 years. Some of them are SM Entertainment, Jellyfish Entertainment, Pledis Entertainment and so on. With this partnership, Condeal will be able to provide various digital content especially K-Pop music, albums and so on.
This partnership is very huge, as Korean Management Federation is one of the most important stakeholders in the current market. A very good start for a start-up.
KSTARPAY
KSTARPAY is considered to be the first payment platform based on blockchain technology in Korea. One of their features is face-recognition payment system with simple uniform ID (service for both foreign and domestic users). It is convenient to use on both online and offline payment. It will help Condeal to provide transparency and security on their transactions for every content trade that they do.
KSTAR MUSIC
KSTAR MUSIC is a decentralized music ecosystem based on the blockchain. It aims to provide fair profit share an opportunity for global distribution for content creators. They'll provide users with access to their favorite K-Culture content, and will become the provider for top-tier music contents for Condeal.
STAR ENT
STAR ENT is a blockchain based entertainment industry business. It provides a lot of opportunities for users to enjoy the cultural content and others via blockchain, such as award ceremony, concerts and so on. STAR ENT has attracted a lot of investor across the globe, and with this partnerships, Condeal will be the platform for STAR ENT to list and provide their high-quality content to the users.
Conclusion
So, what can we say about Condeal now? A content delivery platform based on blockchain with existing partnership consisted of key players of the content industry in Korea. It definitely has a good start, with their pre-sale always being sold out and ended early on CLET. I personally think that you should watch this project progress. But as always, do your own diligence.
You can find more information about Condeal via these links below:
- Condeal Website: http://condeal.net
- Condeal Whitepaper (EN): https://s3.ap-northeast-2.amazonaws.com/condeal.net/deal_whitepaper_en.pdf
- Condeal Whitepaper (KR): https://s3.ap-northeast-2.amazonaws.com/condeal.net/deal_whitepaper_ko.pdf
Disclaimer
This article is written for potential DEAL rewards from Condeal Bounty program. The writer of this article is joniboini from Bitcointalk, and the ETH address used for the participation is0x154089Cb313479C0d698Fad2D29eFb9a71d67b06
Readers are encouraged to read about Condeal directly from the original sources and do their own diligence.
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