Mobile wallets and exchange
Governed by Internet Media Copyright Association
Registration, trade and transactions
The building blocks
The CopyrightChains ecosystem is a blockchain ecosystem with the main blockchain “CopyrightChain” and two sub-chains “CopyrightCoins sub-chain” and “CopyrightShares sub-chain”. The ecosystem is developed, administered and commercialized by New Internet Media.
A CopyrightID serves as a uniform identification of copyright within the CopyrightChains ecosystem. The CopyrightID is the identification of the copyright smart contract. It is roughly the equivalent to International Securities Identification Number (ISIN) as defined in ISO 6166. For backward compatibility and metadata retrieval from the back catalogues in certain industries such as music, it contains a reference to international reference standards (such as IBAN or ISWC and ISRC in music).
A CopyrightShare is a tradable financial asset representing the share in the ownership of a copyright owner on copyrighted content. CopyrightShares give the owner the right to receive royalties in the form of CopyrightCoins.
CopyrightCoins are the vehicle for the payment of royalties to owners of CopyrightShares. All royalties in the CopyrightChains ecosystem will be paid in CopyrightCoins. From CopyrightCoins anybody can exchange into any currency of their choice at their convenience, through a cryptocurrency wallet and via a cryptocurrency exchange. CopyrightCoins are not regarded as security by the Estonian finance inspection and are under governance by IMCA.
The relationship between CopyrightID, CopyrightShares and CopyrightCoins
Copyright is proof that a legal entity (person or company) have registered an intangible asset (creating a uniquely identifiable reference) representing copyright or intellectual property right. CopyrightShares are non-fungible assets of that CopyrightID and CopyrightCoins are fungible assets that represent dividend in the form of royalties that a CopyrightShare produces.