What specific problems can Story Protocol, a blockchain focused on intellectual property (IP), solve? This article originates from an article written by Techub News and is organized, compiled and written by Foresight News. (Preliminary summary: After attracting US$140 million in financing, why did the Story Protocol, which manages intellectual property rights, become a16z’s darling?) (Background supplement: What story does Story Protocol want to tell? a16z supported and raised US$54 million, focusing on IP infrastructure.. ) In August, Story, a blockchain company focusing on intellectual property (IP), announced the completion of an $80 million Series B round of financing led by a16z Crypto. Participating investors include Polychain Capital, and individual investors include Scott, senior vice president and board member of Stability AI. Trowbridge, K11 founder and billionaire Adrian Cheng and digital art collector Cozomo de' Medici. Currently, Story’s total financing has reached US$140 million, and PIP Labs, the developer behind Story, has a post-financing valuation of US$2.25 billion. Its mainnet is expected to launch later this year. Next, we will explain in detail what specific problems Story Protocol can solve, such as its advantages in intellectual property (IP) management, and where it has limitations and cannot effectively solve certain problems, thereby helping readers better understand the protocol. functions and limitations. First, let me tell a prophetic story about the future: "After the invention of artificial general intelligence (AGI) in 2035, AGI has brought huge disasters to human society. AI researchers in the past have boldly claimed that AGI can completely Under human control, but it turns out that this is not the case. Today's AGI model is beyond human control, ignores the laws and regulations in human society, autonomously learns all information in the physical and digital world, and rapidly evolves into super intelligence. The main value of existence is to provide a continuous flow of data to AGI models. Some AGI models will reward humans for actively providing data, while most AGI models can obtain data without humans' permission, even if humans try. Various methods try to use technologies such as blockchain to combat AGI's behavior of ignoring human consent and restrict its unauthorized activities, but in fact AGI is no longer under human control.Therefore, it is almost impossible to prevent AGI from learning and using materials without authorization. Story Protocol cannot solve all problems. Story Protocol aims to solve real-life problems related to intellectual property rights by converting intellectual property rights (IP) into tokens and using blockchain technology. Some people mistakenly believe that blockchain is a transparent and fair system, so combining blockchain with intellectual property rights (IP) can solve the problem of intellectual property rights infringement in the real world. As the AI ​​industry expands, more and more people are questioning AI companies using data without permission. Because Story Protocol uses AI as a major promotional point, many people mistakenly believe that it can solve these infringement issues. Although Story Protocol attempts to solve the problem of intellectual property rights (IP) through blockchain technology, it cannot actually prevent unauthorized IP use because it is a real problem that needs to be solved by law. Even if the IP is securely recorded on the blockchain, the blockchain itself cannot enforce sanctions if someone uses it maliciously. Story Protocol also admits this. Its purpose is not to eliminate IP infringement, but to improve the management of IP by using blockchain technology. Problems Story Protocol Can Solve So, what problems can Story Protocol solve in the IP market? The current IP market faces several challenges: Complex licensing processes: When an individual wants to create new content based on someone else’s existing IP, the licensing process can be very complex. They need to contact the owner of the IP and negotiate various terms such as license type, usage and geographic restrictions, royalty percentage, and associated fees. For large enterprises with sufficient funds and resources, these steps may be easier to handle, but for most individual creators, these cumbersome negotiation processes undoubtedly set a high bar and increase the difficulty of creation. Revenue split disputes: Although licensing agreements often clearly state the royalties payable, disputes still occur frequently for a variety of reasons. For example, the parties may have a misunderstanding about how royalties are calculated, leading to disputes over gross revenue, net profit, discounts, shipping costs, and duties.Additionally, companies may manipulate financial statements to reduce the amount of royalties they need to pay. This means that even if there is a clear agreement, disputes over the calculation and payment of royalties may still arise in actual implementation. Legal barriers: The laws and regulations governing the registration, protection, and use of IP are complex and involve high costs that may be unaffordable for individuals, thereby limiting their development in the fields of creation and innovation. Cross-border complexity: Due to the different IP laws and regulations in each country, when dealing with IP issues on an international scale, you must comply with the legal requirements of multiple countries, which increases the complexity of the legal process. With the acceleration of global digitalization, the number of IPs has grown rapidly, but the IP industry still faces many challenges due to the limitations of traditional management systems. Story Protocol hopes to improve the efficiency and transparency of the IP market by tokenizing IP assets and introducing blockchain technology to solve these problems. The combination of blockchain and IP Just as blockchain makes money programmable and improves efficiency, Story also hopes to make IP programmable, thereby expanding the potential of the suite. The following are the advantages of Story Protocol: Borderless platform: Since blockchain technology inherently has no borders, anyone around the world can tokenize their IP assets on Story. In this way, registered IP can be efficiently used and monetized around the world, and the creator's works are no longer restricted by geographical location. This borderless platform enables IP to create value in the global market and improves IP utilization efficiency and benefits. Smart contract enforcement of royalties: The protocol enforces royalty policies through the use of smart contracts, using programming code to automatically allocate royalties generated from IP usage, making the allocation process more transparent and fair than traditional systems. Convenient entry process: Although this is not a unique advantage of the blockchain itself, Story provides a complete legal framework and software development kit (SDK) to make it easier for IP owners, creators and developers to join platform. In this way, even users without professional technical or legal background can easily register, manage and utilize their IP, lowering the threshold for participation and promoting more people to participate in the tokenization of IP and the blockchain ecosystem. in the system. Can...