CREATE: Content Registry and Tokenized Exchange

Motivation for the project:

The CREATE project addresses several challenges that are at the core of ONTOCHAIN. It will enable content creators, organizations, and individuals to earn and transact more effectively and securely in an environment that is more trustworthy for content handling, transparent in data, information, and services exchange whilst improving protection of privacy.

Generic use case description:

Content creators can register their content to the CREATE marketplace while retaining all rights data. Consumers can find content from the registry and consume the content in exchange of tokens on a pay-per-view basis.

Essential functionalities:

The CREATE marketplace is comprised of an end-user application, API layer, and on-chain smart contracts, including a content registry, with the following key functionalities: 1. User registration with their SSI, 2. Linking content with tags and metadata, 3. Smart contract for terms of distribution, 4. Searchability of the content, 5. Content exchange transaction process with tokens.

How these functionalities can be integrated within the software ecosystem:

The CREATE project will serve ONTOCHAIN framework by creating a commercial consumer application and APIs that will utilize several existing ONTOCHAIN infrastructure, including ontologies, core Protocols, and application protocols.

Gap being addressed:

Monetizing any content, but especially non-video content, is currently difficult for most creators, and are limited to selling advertising, joining publishing platforms, seeking subscription income, and seeking income through product placement. By utilizing smart contracts and tokenization, CREATE enables a more effective monetization of content in a more trustworthy environment.

Expected benefits achieved with the novel technology building blocks:

At the core of CREATE is the notion that everything is tokenized to reflect the inherent value (or conversely, cost) in every digital transaction. The tokenization will achieve two things: it acts as a proof of transaction of the exchange of the information, as well as act as the means of payment, negating the need for having central platforms curating the financial transactions between the buyers and sellers of content.

Potential demonstration scenario:

During the project, the solution will be tested and validated on separate devices with a minimum of 15 users in the beta phase, with at least five content creators and 10 content consumers. The users will be onboarded, followed by a test period with the user feedback collected. The content consumers will be assigned tokens they can use to purchase content from creators on the platform.