In the previous article, you have read about the reasons for using Wemark and how to use the platform. It can be concluded from the article that Wemark offers exceptional benefits for its users, particularly for photographers that centralized platform cannot offer. Wemark Protocol is able to provide such benefits for its users because it uses immutable distributions agreements.
Wemark Distribution System
A distribution system is one of the crucial factors in the digital content industry. One of the characteristics of Wemark protocol is the immutable distributions agreements. With these agreements, photographers are able to cooperate with marketplaces and the collaboration can bring benefits for both parties. Every agreement contains the price range, the terms of the licenses, and other information agreed by both parties. The agreement or contract will be signed electronically and then deployed on the blockchain. Once deployed, there is no way to change or alter the agreements unless there is a consent from all involved parties. These smart distribution agreements can distribute revenue automatically, issue licenses, and regulate payment. These abilities are what makes it different from traditional agreements.
The Use of Blockchain
Wemark protocol is empowered by blockchain technology. Blockchain along with the cryptocurrency, immutable ledger, and smart contract, will surely disrupt traditional distribution channels of digital content. Digital content distribution methods that exist today, on one side, help photographers to reach more customers. However, these photographers should sacrifice their contents’ worth and rights in managing the content. Of course, it is not fair to them.
The blockchain has introduced a new era where the main functionalities of digital content distribution is an integrated part of a blockchain-based protocol. The core functionalities include providing access to the content, rewarding content’s creator, and accepting payments. For this reason, the Wemark protocol will work based on the most established computing platform, the Ethereum blockchain, to enable smart contracts and digital tokens. Wemark will build a decentralization system little by little by continuously reviewing all possible alternatives and select the infrastructure that will best work for its community.
In the future, along with further development of the decentralized protocol and as it is getting mature, Wemark will progressively shift to hosting the content on its own. When this happens, once a payment is made, no parties can hinder the customers to access and use the content.
Wemark supplies 135 million WMK tokens in total. Not all of the tokens are distributed for sale. There will be only 38% of the tokens available for Token Generation Event which will be conduction during 24th July – 7 August 2018. Meanwhile, 37.5% of the tokens are reserved for community rewards. Advisory team members and partners are given 12% of the total tokens. A similar number of tokens are dedicated to employees including the founding team while the rest of the tokens are kept for bounty programs.
- Bitcointalk: 135cc
- ETH: 0x002a3C863a9C8C918FfDAfB3E9E09a18F12C99Df