SIX.network - DIGITAL ECONOMY

ABSTRAC

If Bitcoin is the Internet of Money ​(a decentralized trustless network designed to bring financial independence to people worldwide without money having to go through any centralized control) and Ethereum is the Internet of Software (a platform for executing code and creating decentralized applications), SIX aims to be the Internet of Digital Services​, providing decentralized solutions for all kinds of transactions in the digital and creative economies.

What is SIX? Why should we develop SIX?

In today’s digital and creative industries, there are fundamental problems amongst payment processors, gateways, and financial institutions versus creative platforms, content providers (hereinafter referred to as “creative workers”), and audiences in the supply chain. With over 10-million active users in our strategic partners’ network, over 1,000,000 creative workers and over 3-million intellectual properties in the network, they are all facing similar problems with centralized financial platforms including payment processors and gateways and financial institutions. This includes high transaction costs for nano transactions and lack of financial liquidity. Creative workers are unable to use their works as collaterals because banks do not see the value in their works (but the content platforms do). Although the content platforms have been trying to solve these problems through their internal tokens, there come problems regarding cross-platform exchange difficulties. Tokens from one platform cannot be used with another platform and digital contents in one platform cannot move around to other platforms as easily as it should be. This is due to their own standard information silos, which makes it impossible for users to monetize the tokens and creative workers to liquidize their digital assets in different platforms.

THE STORY

SIX.network originated from the alliance of leading businesses in the digital marketing and creative industries to solve major problems afflicting upstream (e.g., creative workers), midstream (e.g., agencies), and downstream (e.g. audiences) players in the supply chain. These problems include high transaction costs, low financial liquidity of middlemen and creative workers, inability to liquidize digital assets, content distribution with unclear ownership rights, and unfairness of income distribution. 

We believe that fair economic infrastructure is necessary to solve these problems. To create such infrastructure, SIX.network uses blockchain technology and smart contract as the backbone of SIX’s three main layers: SIX Digital Asset Wallet, Decentralized Financial Services, and Wallet-to-Wallet (W2W) Decentralized Commerce. With this economic infrastructure, SIX can create an ecosystem that is transparent, fair, secured, and efficient for all stakeholders in the digital and creative economie

WHAT IS IN THE DIGITAL AND CREATIVE SUPPLY CHAIN?

 The global Digital Supply Chains​, which include content creation by creative workers, content distribution platforms, and digital commerce, manage USD 11.5 trillion in world economic value.

UNDERSTANDING TERMS AND TERMINOLOGY

Creative supply chains

Digital content

HOW BIG IS THE GLOBAL CREATIVE SUPPLY CHAIN?

The Whole Digital Economy​: 

The digital economy in 2016 was estimated at USD 11.5 trillion globally, or about 15.5% of global GDP. By 2025, this number is forecast to reach USD 23 trillion, or 24.3% of global GDP. The digital economy includes all economic activities that result from billions of everyday online connections among people, businesses, devices, data, and processes.

Creative Workers

The digital economy arises from the efforts of creative workers. These workers are companies and individuals who use their creativity to produce content for the digital and creative industries. They include writers, bloggers, influencers, music artists, filmmakers, broadcasters, advertisers, photographers, and others. The companies involved in the digital and creative industries that create digital content include digital agencies, aggregators, and publishers of digital creation tools. The digital and creative industries, which are valued at 4–9% of the global GDP, or around USD 5 trillion a year, have surpassed the entire agricultural industry, valued at USD 3 trillion a year.

THE SOLUTIONS

1. SMART PAYROLL

2. LIQUID PAY

SMART PAYROLL 

Eliminate the inefficiencies in managing contracts and payrolls as well as unfair profit distribution in the digital and creative industries

LIQUID PAY 

How can we fix the industry cash flow problem? How can we allow people to receive cash when they want to have it? We ask these questions because we see significant cash flow problems in the digital and creative industries today. 

Financial institutions never know the true value of creative works. Digital contents created by these creative workers on one platform have no value to third-party financial institutions. However, the platforms know how much actual cash flows the digital contents are creating in the system. This makes it possible for the platforms to lend money to creative workers while the workers use their works as collaterals in the transaction. If the principal is not repaid, ownership of such intellectual properties will be transferred to the platforms. With this idea, we have come up with our Liquid Pay system.

TOKENIZATION LOYALTY AND REWARD POINTS

Why do the digital and creative industries need tokenization? Numerous digital points are in the market today, including credit card points, air mileage points, loyalty points, ad watching points, web access credits, gift cards, and many more. Businesses can gain customer loyalty and operating cash flows through this point-and-coin system. However, the flip side is that these digital points become useless outside their own platforms and the cost of converting cash into digital points for different platforms through centralized payment processors is quite high. Businesses are now seeking more efficient ways to reduce these burdens and free up staff for more valuable tasks. 

In this regard, tokenization comes into play. Tokenization is a process that makes native assets exchangeable among different platforms. This not only makes digital points tradable on different platforms, but also reduces the transaction costs charged by the centralized payment processing platforms. 

In addition, business tokens allow for a new nano-payments business model like pay per view/listen/stay contracts. For instance, the streaming music platform could charge customers based on how long they listen in seconds. This sort of nano-transactions model cannot be implemented with today’s credit cards because the minimum payment processing fee is too hig

Tokenization Exchange

Current Issues in the Loyalty and Reward Ecosystem

1. No interrelated standards among different platforms​: Points can only be used in one specific micro-economy.
2. Lack of liquidity​: Due to high payment processing fees to convert back from points to fiat currencies, most platforms do not allow exchanges between point and fiat. Only one-way exchanges (from fiat to points) are allowed
3. Points and coins are often unutilized, written off, and expired​. Holders of points and coins tend to easily forget because they are difficult to store and there is no market to cash out​.
4. Businesses usually find it difficult to manage unused points and coins in their accounting books. For example, traditional banks need to set aside a big chunk of cash for unused credit card points, losing opportunities to utilize their cash. 

Solution – SIX Business Token Wallets

SIX.network will provide businesses an SDK to convert their digital and reward points to their own digital tokens on the blockchain. Our wallet will keep these digital points/coins in one place.

SIX ROADMAP

WAVE 1: The Proof of Concept (PoC)

WAVE 2: The Springboard

WAVE 3: The Public (Community and Feedback)

WAVE 4: The New Standard

WAVE 5: The Sixth Necessity

TOKEN SUMMARY

SIX TOKEN DISTRIBUTION STRUCTURE

• 47.45% of the total amount of tokens created will be available during the public sale and public pre-sale. This portion can be traded in the market on the first trading date.
• 25% of all tokens created will be locked as bounty and reserve.
• 13% of all tokens created will be reserved for team members, advisors, and key contributors who have been working to develop the ideas, supporting structures and actual implementations of the SIX.network project. This portion will be released within 24 months from the first trading date. 
• 10% of all tokens created will be held by Company, held by Yello Digital Marketing Global, OOKBEE U, and Computerlogy. 
• 4.55% of all tokens created will be sold to our early investors. We only select early investors who are able to provide strategic support to our SIX.network and the digital and creative communities. 30% of the portion can be released to the market 90 days from the first trading date. The rest can only be utilized first hand in the SIX.network. In doing so, the early investors will help drive the use of SIX tokens among digital and creative workers and the tokens will eventually be released to the entire system via the digital and creative workers. 

MORE INFORMATION  :
 

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