The Cayman Islands Regium, an upcoming EOS digital resource management protocol, has just announced its ongoing compensation and recursive incentive distribution models for decentralized app developers and digital asset owners. The announced models are expected to help owners improve data security and control, ensure usage-based compensation, and allow data owners to monetize their data to businesses.
Through this move, Regium wants developers and owners to take full control of proprietary data. Dominik Pantelides, CEO of Regium, says:
"Regium will offer data owners the tools to create their own blockchain-based DApp that will handle transactions and protect the value of data assets."
The fees and incentive distribution models are expected to transform the panorama of royalty transactions. Combined with the suite of tools offered by Regium, these new developments are intended to improve the profitability of advertising companies. At the moment, many companies are losing optimal profits due to issues such as rampant data fraud and security breaches, among others. The company's version states that scammers earn billions of dollars each year by managing illicit information.
The recursive incentive distribution model
The Regium recurring incentive distribution model eliminates the dependence on expensive intermediaries markets for discovery and marketing. Instead, it will reward those who submit data to a final conversion, encouraging platform participants to promote and distribute data to potential new users.
Dominik Pantelides states:
"Until now, owners of digital data and content have had to be infinitely creative in their work, but their compensation models have been rigid, outdated and unjust.The monolithic third parties have a soft spot for promotion and distribution and have took a big cut in their revenue, so creative data owners have struggled to profit from their work.regium is creating a better way to reward innovation among data owners.You are a video game studio corporate level or an independent musician, Regium allows owners of digital resources to create their own compensation rules. "
The model leads to a self-perpetuating reference marketing engine that helps digital asset owners to end their dependency on dominant distribution platforms, such as the Apple App Store or Steam, and instead leverage their communities of users to incentivize sales. The full transparency of the referral chain also solves the shortcomings of the "last-click" attribution models.
The compensation model continues
This model allows owners of data and content to receive instant compensation whenever their assets are used or transferred to a new user, respecting the specifications incorporated in DApp. Using smart contracts, there will be no third parties to approve payments or issue payments based on certain thresholds or sales limits that must be met. The model ensures that a digital asset holder receives payment for each purchase or use of the asset as it is promoted through the recursive affiliation system.
Made for all developers
To allow easy creation and use of DApps even for those who do not have blockchain development experience, Regium provides SDKs in JS, GoLang, C #, Java and Swift. These SDKs on the Regium set of protocols include identity, storage, delegation and data leasing. Regium is made for all developers, regardless of their language of expertise.
Who will benefit most?
The major beneficiaries of the initiative will be the entertainment industry. It is obvious that the industry suffers from piracy, and this is partly billions of revenue. Other data economies that will benefit from the DApps developed on Regium include digital advertising, software licenses, syndication of digital content, data archives, video games and stock photos, among others.
With their software-compatible software development kits, Regium could prove to be a turning point in the blockchain development industry and emerge as a market leader in the developer community by providing programmers with the best options to create DApps.