Project Ink

Recently, Ink announced that the team has been building a global Intellectual Property (IP) asset ecosystem based on the Qtum blockchain. Ink is defined as a Ledger where artists can register works and generate businesses, an Exchange where arts can be incubated and thrive, and an Ecosystem advocating for anyone who creates original content. Ink is established on the Ink Protocol, a decentralized solution harnessing the power of Sovereign Consortium Blockchains, Qtum Public Blockchain and Cross-chain Protocol for the global Creative Industries.

Ink Ex & INK

Ink is setting up an “Intellectual Property Asset Exchange”. The platform can securitize and tokenize Intellectual Property assets through Smart Contracts. In order to cut down loss of proceeds due to middlemen and oligopoly, Ink proposes a new ecosystem where IP protection, quick cash generation and proceeds maximization will be possible for any artist or creator.

Ink will issue its utility token — INK, on the Qtum Blockchain. This token will encompass the backbone of its many use cases, including: IP Registration & Verification, IP Assets Exchange, IP Crowdfunding and IP Consumption.

Cross-chain Interoperability

To facilitate the development of a decentralized IP ecosystem, Ink is building a cross-chain protocol, which will elevate Qtum technical stack, allowing for further use cases as the project matures.

At the core level, the INK tokens reside on the Qtum Blockchain. Users will have the ability to transfer a portion of these tokens to a consortium blockchain in a certain region. This is important as IP legislations vary drastically in different countries. Users can benefit from local services based on the specific consortium blockchain they hold tokens in as well as the Smart Contracts on the Qtum Blockchain.

Ink Sovereign Consortium Blockchain is a collection of high-performance permissioned blockchain solutions. Its underlying technical framework follows the standards of the Hyperledger project. Aiming at the generic application scenario in a specific geographical region (such as Creative Industry in China), it comes with a series of customizations and enhancements.

In addition, the Ink Sovereign Consortium Blockchain inherits all the superior features of Hyperledger Fabric, and it carries a series of innovative designs, such as Incentive Mechanisms, off-chain content storage improvement, as well as cross-chain interoperability. In short, it is a complete, robust and well-designed permissioned consortium blockchain solution.

The Future

Ink Sovereign Consortium Blockchain has acquired quality IP assets in various industries. The Qtum blockchain is selected as the infrastructure for asset transfer. It will support Team Ink to develop a blockchain ecosystem that is both parallel and complementary to the Creative Industries. Ink will achieve this by leveraging the cross-chain protocol to bring value to the world. Abstract thinking ignites evolution of mankind. Ink aspires to serve the best interest of artists and creators and guard their intellectual properties.