Ink Foundation Launched Blockchain Solution for the Creative Industry

NEW YORK, Nov. 16, 2017 /PRNewswire/ -- The World Economic Forum estimated that the creative industry generates $2,250 billion in revenue annually and is responsible for creating of 29.5 million jobs globally. This industry spans 11 cultural sectors and employs a large number of youths and females. Today, the Ink Foundation seeks to revolutionize the trillion-dollar industry through their application of the Ink Sovereign Consortium Blockchain, IP Asset Exchange and Cross-chain Protocol.

Any cultural product, be it a piece of music or a book, can be classified as the intellectual property (IP) of the original creators. Traditional IP distribution channels have been confronting various challenges, such as unclear ownership, inadequate data authenticity, unfair distribution of proceeds, difficulty in converting IP into liquid assets and inefficiency of the infrastructure in the industry to maintain a healthy ecosystem. The ink platform offers the answer to these long-standing obstacles.

IP platform

The Ink Sovereign Consortium Blockchain provides an immutable ledger system which ensures clear ownership of the IP. This eliminates disputes among content creators and allow them to convert their IP assets into liquid assets easily. The Ink platform supports the conversion efforts through an 'IP Asset Exchange Platform' whereby content creators can launch their IP content to a massive global market.

The platform opens up the market for content creators and allows them to access a wider audience who would appreciate their art instead of being limited to those in their immediate networks. For content creators who need to raise funds for their project, the Ink platform also provides a cost-effective method for them to convert their IP assets into liquid asset.

Fans can also participate in trading the IP assets through the Ink platform. The application of a key technology of blockchain, known as smart contract, can enable fans to be part of the IP asset trading activities. Owners and fans can therefore trade the IP asset like any liquid asset in the financial market.

Ink Cross-Chain Technology -- Bridging Local Production with Global Market

While content creators want to sell their products globally, they have to adhere to local regulations and cultural norms of various countries. The business process and technical aspects differ from country to country. This means that country-specific customization must be incorporated into the blockchain design.

Ink have launched 'Sovereign Consortium Blockchain' for China, South Korea, Thailand and other countries. They are in the advanced stages of their product launch in the United States and the European Union. Once content is produced and secured by the local sovereign consortium blockchain, it would pass into the proprietary 'Ink Cross-chain Protocol' to reach various public blockchains.

This would allow the content to be traded through the blockchain globally. It took CEO Tang Ling, Chief Scientist Chen Chang and a team of dedicated experts in various fields years to test and develop this full suite of blockchain solution. The technology is set to revolutionize the creative industry.

INK Token Fund Raising

The fund raising by Ink has been embraced by the market, which has been long waiting for a disruptive platform like Ink to emerge. The fundrasing ended early on 16 Nov 2017 as all the INK tokens issued have been sold out 3 weeks ahead of the planned closing date.  

Broad Acclaim from Investors

As a blockchain project targeting the global creative industry, Ink has won public support from many renowned investment institutes and investors, including Bo Shen from Fenbushi Capital, the Qtum Foundation, Bohdi founder Xiahong Lin, Manzi VC, INBlockchain, AWARE Capital, KIG CA, Yanyan from SAIF, Collinstar Capital, Xinxing Duan from Bytom, Zuo Zheng from Spacechain, Ryan Xu (the Martian), Coin guide, ICOShark, Waves, Siberia Capital, and many others.

On 8 Nov 2017, Ink announced strategic investment from AWARE Capital to build global creative ecosystem in collaboration.  AWARE Capital is a VC Fund that focuses on incubating and investing in blockchain startups. AWARE Capital uphold the mission of providing full-fledge support to the value of internet and innovative startups. Its values coins well with the vision of Ink.

On 13 Nov 2017, Hcash has officially announced investment in Ink. The two organizations will collaborate at all levels to build a global blockchain ecosystem. Through the innovative Ink cross-chain protocol, Hcash hopes the collaboration can connect all independent blockchains and realize free flow of information and value.

With strong development and partnerships, Ink Foundation is eager to watch how Ink will transform the global creative industry ecosystem.

For further information, please contact:

Visit https://ink.plus/ to access more information about the facility, marketing programs, funding and mentor programs from the company. 

SOURCE Ink Foundation