A new venture in the field of intellectual property, addressing millions of creators around the world and striving to replace lawyers and intermediaries in the industry. The venture provides an absolute timestamp which enables creators to prove ownership of their work by using innovative technology.
Eric Klein, NKOR’s CEO: “We use the natural features of Blockchain technology, which registers every transaction of information that is executed through it on the one hand, and is impenetrable to changes and manipulations on the other. Thus, we allow creators, whether coders or artists, to unquestionably record their works and to prove in this way that they were first. This matter becomes a problem, especially when it comes to private creators or small businesses exploited by large corporations. We want to protect them by allowing them to prove that they have the copyright for their creation. From my experience, creation is not yours if you cannot prove it.”
According to PWC, the projected annual earnings from royalties of music and videos, until 2021, will be about 40 billion USD. One can only conclude that the copyright market as a whole is much broader and that many creators who find costly solutions today or give up adequate protection of their ideas because of their cost, will see NKOR as a cheaper, simpler, and more efficient solution.
The ambitious project is in the midst of the development process – the architecture and the mechanisms of duplications’ prevention are already done. The team is working on the algorithm’s integration which will be finalized by mid-2018.
Creators absorb a mortal economic blow when their creations are taken away from them, especially when it comes to facing big corporations in order to protect their rights.
The victims are from various fields: writers, musicians, designers, painters, photographers, software developers, inventors – they all have difficulties and need massive financial expenditures since they do not have unequivocal tools to prove their intellectual property in court.
The legislator finds it challenging to deal with the phenomenon of illegal downloading and piracy, which leads to the trampling of the artist’s rights, and sometimes even to relinquishing his rights because he has no tools to contend with powerful corporations.
NKOR’s Blockchain based solution
Blockchain allows registration of information in a secure, transparent, and efficient method of transactions between participants, without the need for intermediaries. This technology is built in a way that all data transfers that are registered in its environment, is recorded and irreversible by private entities, hackers or even governments – make it resistant for changes and reliable as evidence.
It was only a matter of time until a group of entrepreneurs will be formed and take the blockchain based solution into implementation. NKOR’s groundbreaking technology for processing data, using a multi-layer index hashing algorithm, will be implemented on blockchain for the first time.
The novel technology at the core of the ecosystem authenticates data that is uploaded to the platform. The data is linked to a transaction on a blockchain via smart contracts, being time-stamped, in order to provide a permanent and publicly readable record.
The system keeps track on uploading and sharing of the same data by other entities to prevent plagiarism and cementing it into a blockchain via smart contracts, aka Anchoring.
The system also deals with the settlement of disputes between users of the system. Oracles are authorized by the parties to give their verdict.
NKOR’s venture is highly attractive in the ICO landscape due to its ability to give a real utility to the currency. The marketplace is the additional angle that NKOR’s platform can offer – allows the artist to upload works to the platform, to trade it with other users, and eliminates the need for agents and lawyers. Thus, most of the profit was saved to the intellectual property owner.
That is how, in fact, the need to hold the currency is kept. The marketplace has a considerable potential based on the fact that many creators that want to protect themselves will naturally progress to the next level and use NKOR’s system in order to trade their creations.
The platform will return to the public after four years since its establishment, and eventually, will be having no profit from any transaction, and work completely autonomously. To finance the NKOR ecosystem, 200 million issued tokens (NKR) will be in total supply, and 80 million will be offered at a sale event.
The crowdsale seeks to collect ETH equivalent to 20 million USD, with each NKR token priced at $0.5.
The tokens will be used to finance the further development of the NKOR ecosystem and its ongoing operations, as well as to attract additional strategic partners to the NKOR’s team to further its expansion. Currently, NKOR has more than 50 employees, in offices in Israel, New York, Kiev and expected to grow to more than 100 employees until March 2018.
Part of the revenues will be held in a vesting schedule for the founding team that will ensure an incentive for them to perform well and remain with the company.
NKOR had already raised over 1 million USD before the official pre-sale began. Klein adds: “Some of the reasons for the success of the preliminary fundraising are that the partners and board members come from the world of media and intellectual property, and highly experienced. All will enable the project to develop until full maturity”
Eric Klein, Co-Founder, and CEO
Klein is the founder and CEO of highTV 3D and High4K the world’s most distributed 3D and 4K entertainment channels broadcasted in 81 countries as well as co-founder of Footprint Technologies a holdings group which invests in blockchain and technology companies since 2011. Eric was also the Founder of Fashion One TV one of the world’s leading Fashion entertainment channels which was later acquired.
Ami inbar Co-Founder and CMO
Entrepreneur and marketer with 18 years of experience launching internet and digital commerce ventures.
In 2012 Inbar launched Biz Profits, one of the leading CPA networks, with a mission to create a trusted network between brands and online marketers. Today, BizProfits is an industry leader in performance marketing, offering high-quality traffic for top advertisers and providing one of the highest payouts for affiliates in the industry.
Recently Inbar decided to venture into the emerging blockchain and cryptocurrency markets.
Ophir Gertner, co-Founder of Invest.com and Stox.
Gertner led Stox which went on to raise $33 million in Ethereum in less than two days. Stox is a prediction market product of invest.com, an established player in the financial market.
Eric Klein: “Throughout 11 years of experience in the media industry, I dealt with copyright infringement on a daily basis, such as illegal downloading of original content. Today, companies use content monitoring agencies to track whether copyright infringement has occurred, but it is not even close to full copyright protection. With the help of NKOR, proving of whether the document belongs to you or not has become much easier”.