Stream Protocol, custody service alliance with ‘Upbit Safe’

Stream Protocol (CEO Lee Sang-su), a company which is developing a reasonable content revenue distribution system, announced that it has signed a contract with Upbit Safe, a subsidiary of Dunamu, to partner with “Custody” service.

Through the partnership, the “Stream Protocol” will be entrusted to Upbit Safe for 1,948,610,436 units in other words, 97.4 percent of the total issuance of its digital assets, STPL Token.

Upbit Safe is a corporate-only digital asset trust service of DXM, Krypto financial subsidiary of Dunamu. By using this, virtual assets can be safely stored through customized solutions.

In addition, the company has a variety of safeguards, including its own multi-account system, delayed withdrawal, whitelist, and distributed cold wallets, along with the Ledger Vault service, which is a multi-certified wallet service for enterprises, which is considered to have excellent security levels.

‘Stream Protocol’ is a project to address frequent inefficient content production procedures and unreasonable revenue distribution structures in the content industry. The company wanted to solve the problem by using content smart contracts (CSC) on the block chain network, which cannot be arbitrarily manipulated by individuals, and its own technology that is used for this purpose was patented on the 21st.

Using the “stream protocol” block chain technology, video content revenues are distributed transparently and fairly to those who participated in the production process based on their contributions registered in the block chain.

In addition, it is expected that it will reduce the cost burden of content producers to create content and help vitalize content creation by saving time and money needed for profit settlement and distribution procedures.

Lee Sang-su, CEO of Stream Protocol, said, “Upbit Safe not only has several safeguards such as delayed withdrawal and white list, but also is a highly secure ‘custody service’ such as using the world-class security service Ledger Volt. Through this partnership, we will further strengthen the security of our ‘STPL Token’ to enhance the reliability and stability of ‘stream protocol’.”

Original post :https://www.etnews.com/20201026000247

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