A private blockchain to supports all economic transactions of the Myrillion ecosystem
The Myrillion project consists in the creation of a community of users belonging to the entertainment world, gathered around a means of exchange dedicated to this community and supported by a secure, decentralized network accessible to all users
The MYL is the token of the players and consumers of the entertainment industry and is the unit of account for all economic transactions within the Myrillion ecosystem
THE PI BLOCKCHAIN
The token of the players and consumers of the entertainment industry.
The unit of account for all economic transactions within the Myrillion ecosystem
THE MYL TOKEN
The legal tools to organize collaboration inside the Myrillion ecosystem
The ecosystem allows a one-click conversion of tokens into cash via a private exchange platform
Our answers to the entertainment challenges
Our smart contracts and their use cases
For professionals: INCOME REDISTRIBUTION
Rationalizes and optimizes the professionals’ financial flows (broadcasters, producers, beneficiaries…) in reducing significantly transaction costs and transaction time
Monitors flows from origin to distribution
Allows the entertainment community to send MYLs to their favorite artist, without any intermediaries
Once the tips are sent, users are assured that 100% of their donations will arrive immediately on the wallet of the supported artist
For the general public: TIPS
A private exchange for our partners and their beneficiaries
Our prospects : the Entertainment Matrix
The entertainment ecosystem is built around processes that are common to all companies or to the different distribution media that make up the ecosystem.
Each cube contains an entertainment player who could join the Myrillion ecosystem.
By first addressing the music industry through its first partnership with MUUP, Myrillion demonstrates the feasibility of its solutions and prepares to replicate its model on the other bricks of the entertainment world.
They are talking about us
Myrillion launch party in Paris, Sept 13th 2018
With the exception of the private sales period, in which invited individuals may participate, we reserve to professionals the right to participate in our first commercial steps.
Funding will be open to independent and/or institutional private financial actors, and not to the general public.
To manage the income redistribution circuit independently of the activity on public markets:
- The first token (MYL-Gain), is reserved for the needs of professionals and is used to operate Smart Contracts dedicated to professionals (redistribution of income first). It has a guaranteed value over time, making it possible to avoid pay gaps between the time when the industrial partner provides the income to be redistributed to its beneficiaries, and the time when the beneficiary decides to change its tokens into cash.
- The second token (MYL-Coin) works like any other financial token (cryptocurrency type). It has a price that fluctuates according to supply and demand. It is made available to the general public and will make it possible to operate the Smart Contracts made available to the general public (the tips first).
Yes, only from MYL-Gain to MYL-Coin.
The operation can only be performed once in the life of a token and is reserved for the beneficiaries of our professional smart contracts.
See diagrams p17 and p18 of our WP.
Yes, only to our industrial partners, via our private exchange platform.
Any company in the entertainment industry that needs to manage income redistribution flows.
- Content distributors (streaming and downloading platforms, television and radio channels, audiovisual screening rooms, etc.).
- Producers and organizers of events (concerts, festivals, exhibitions, sports events…).
The MYL-Gain token is a technical token that does not circulate on public markets. It is the Myrillion company, via its private exchange platform, which guarantees the beneficiaries of a Smart Contract operation the cash on delivery of the MYL-Gain token.
The MYL Token made available to the general public cannot be used within this closed circuit.
- The platform operates in a closed-circuit process that Myrillion controls end-to-end.
- Myrillion industrial partners use the platform to purchase the MYL-Gain tokens needed to redistribute their income.
- Beneficiaries of redistribution smart contracts can use the platform to sell MYL-Gain tokens received through these contracts.
- The entire process is supervised by a first-class banking service and professional insurance that verifies the token/fiat transaction processes.
See p14 of our WP.
The platform is supervised by a first-class banking service and professional insurance that verifies the token/currency transaction processes.
This system ensures that:
- All sums resulting from the sales of Token MYL-Gain are held in a regulated escrow account.
- All sums to be paid back to Smart Contracts beneficiaries are guaranteed at a fixed exchange rate, with no time limit.
- All transaction processes are guaranteed by a leading financial institution
- Through the resale of tokens by beneficiaries of redistribution smart contracts, who will decide to resell their MYL-Gain tokens on public markets. MYL-Gain tokens are irreversibly transformed into MYL-Coin tokens when they pass over the Ethereum public blockchain.
- Through the resale of the tokens of the buyers invited during the pre-sales phase.
- Through the resale of the tokens distributed to the Myrillion team and advisors.
- Through the resale of the tokens paid by Myrillion to service providers.
See diagrams p17 and p18 of our WP.
- The cross-functionality of our solutions across all entertainment businesses.
- The stability of our system, based on a transparent, secure and isolated income redistribution circuit from the volatility of public markets.
- The plurality and complementarity of our smart contacts made available on a single blockchain.
- The ease of use of our solutions, via our B2B private exchange platform and the MYL-PAY© and MYL-PAY PRO© tools.
- A “turnkey” and free integration of our solutions into customer ecosystems.
In order to:
- Earn the trust of content creators. Our ecosystem guarantees them a fair remuneration to the nearest cent based on the income collected from consumers.
- Facilitate the management of the redistribution of collected income without intermediaries (less administration and human error, elimination of ex post disputes related to non-compliance with contractual conditions signed between stakeholders).
- Offer a new experience to the user by allowing her to support her favorite protagonists by giving her tips if she so wishes. Tips arrive without financial friction and without intermediaries to the protagonists.
- Access a decentralized statistical database that is not exposed to unintentional or malicious processing errors.
Most blockchain projects dedicated to entertainment, with a focus on new non-traditional players (“pure-players”). Examples: Slate, Tatatu, Musicoin, Treeti, Flixxo, Live Tree adept, Concert VR…
Itunes / Spotify are not competitors, but potential clients of Myrillion. The Myrillion ecosystem offers them the functionality of its Smart Contracts.
Examples of use cases:
- Management of the direct redistribution of income to rightsholders after each listening.
- Possibility for a user of the client platform to pay directly from the application his tips (nominative or anonymous) to the artists, without intermediaries.
- To enable the widest possible adoption of blockchain technology. We intend to encourage it by supporting the widespread use of the π blockchain and MYL tokens by mobilizing a majority of resources on an “evangelization” approach within the entertainment industries (entertainment, sport, art, etc.).
- To develop our private exchange platform and finalize the developments of MYL-PAY© and MYL-PAY PRO© applications, the intelligent MYL management tools necessary for our ecosystem to make it accessible.
- To finalize the structuring of our company, and finance our working capital for the next 18 months.
- No public ICO planned to date.
Listing on public exchanges: from €1M to €2M
- Exchange registration fees, liquidity advances, consulting fees, etc.
Operational needs for 18 months: from €1M to €2M
- Overhead expenses, human resources (R&D & engineering, Marketing and CM, sales force, finance & legal administration, C-level management and HR department…).
Technical developments: from €0.5M to €1M
- Development of the private exchange platform, addition of new ecosystem features (smart contracts, etc.), development of MYL-PAY© and MYL-PAY PRO© tools, continuous improvement of the technology making the most use of the blockchain…
Marketing & communication: from €0.25M to €0.5M
- Organization of events to promote the Myrillion ecosystem, sponsorship of music festivals, concerts, events related to Entertainment and tv shows, sponsorship of influential media, experts or artists, organization of advertising campaigns on mainstream medias…
Corporate structuration: from €0.25M to €0.5M
- Corporate setup fees, Banking agreements, insurance, legal and consulting fees….
Until the listing of our token on at least one public exchange platform:
- by buying them on the Myrillion platform during ongoing private sales (see page 31 in our WP).
- by exchanging them with other Myrillion users.
After listing our token on at least one public exchange platform (estimated listing expected in summer 2020):
- by purchasing them on public trading platforms.
- by exchanging them with other Myrillion users.
To participate in private sales, contact us via the form on our website https://myrillion.io.
We offer you two options:
- to import the ETH portfolio of your choice in order to transfer your MYLs (whether on web wallets or physical wallets).
- to create your portfolio and manage it, just as an exchange platform offers (we keep your private key on secure servers).
We will delegate the storage of this sensitive data to a trusted Tier 4 third party.
- Our ecosystem will start with the implementation of an industrial partnership.
- Our team has complementary skills that are supported by experts and Advisors with recognized skills within their respective businesses.
- The listing of the MYL token on public markets will only be done in a second step, based on the activity generated by our industrial partnerships.
- The founder of our project is also the founder of the Muup project, a pioneering Myrillion customer user.
Our first customer, Muup, is currently testing its application, which will be launched on app stores in autumn 2019, and will make the Myrillion ecosystem available to its users.
- Because the ecosystem is based on blockchain technology: a database that contains the history of all exchanges made between its users since its creation.
- This database is secured using a complex encryption protocol.
- It is distributed: it is shared by its different users, without intermediaries, which allows everyone to check the validity of the chain.
- Those who audit do not know the content of what they audit, and the auditors do not know each other.
It is a traditional contract digitized as a computer program and inserted on the Blockchain.
In particular, smart contacts make it possible to automatically execute agreements previously formalized between two parties, without one of the parties being able to prevent its execution.
- The public blockchain allows the fungibility and transferability of the MYL token outside the Myrillion ecosystem (conversion to fiat money or other cryptocurrencies).
- The private blockchain supports all economic transactions in the Myrillion ecosystem as well as the implementation and automated application of contractual agreements between ecosystem stakeholders.
- Participation in the confidentiality of network data: Possibility of adding an additional confidentiality layer (Quorum type). Contract data is only accessible to contract stakeholders.
- Low-cost transactions: avoidance of the cost of the GAS of the public blockchain. This argument is reinforced by the fact that our ecosystem has to support many low-value transactions.
It allows the transfer of Myrillions from one blockchain to another, as well as the management of network data.
Also offers the Myrillion ecosystem interfacing framework with client ecosystems (APIs).
Our ecosystem is based on the “proof of authority” consensus protocol. We list the clients authorized to mine. These are Myrillion client users, who are diverse and seek to obtain guaranteed infallible data through the blockchain protocol to feed their performance dashboards.
Miners are remunerated with the regular delivery of data concerning them (activity data of the ecosystem, allowing the monitoring of their economic performance and an adapted client offer).
The purpose of the Myrillion blockchain is not to develop a business around the mining of MYL. The MYL is a “utility” token that allows you to buy services, pay artists or works,….. There is therefore no reason to create (undermine) MYLs as the project progresses.
In general, the mining reward is a way to motivate miners to participate in the proper functioning of the network. On public blockchains, this involvement is rewarded in crypto-currency. On the other hand, the minors of the private channel π will be “incentivized” otherwise than by the mining of MYLs: by giving them access to data concerning their activities.
The ETH protocol allows us to generate our own token and provides smart contracts that we configure according to our needs.
Compared to NEO or Lisk, which also support token generation and also offer smarts contracts, ETH has the largest and most active user community.
Yes, this is possible. For example, we can switch the private blockchain to NEO and stay on the public Ethereum blockchain. All our developments are independent of Ethereum developments.
The passage on another blockchain, such as NEO for example, will imply two modifications on our ecosystem:
- The coding of new smart contracts.
- Changing the parameters of our gateway allowing the transfer of tokens between the private and public blockchains.
The number of transactions per second depends on several factors:
- The type of algorithm used to achieve consensus among all nodes in the chain (the “blocktime”, the frequency of block creation, which depends on the consensus algorithm).
- The data limit per block (each blockchain defines a size limit per block, which is configurable).
- The size of the transactions to be included in the blocks (simple transactions – such as a transfer of ETH from one address to another – take up less space in a block than the deployment of a Smart Contract for example).
The technology envisaged for the π private Blockchain is based on Ethereum technology, with a consensus algorithm in Proof-of-Authority.
The Kovan network, based on the same technology and the Proof-Of-Authority, currently runs on several hundred thousand nodes around the world. It can therefore be used as a benchmark for a private blockchain deployed on a similar scale. The blocktime on Kovan is about four seconds, with an average of 80 transactions per second (calculated on the basis of simple transactions corresponding to Ether transfers between two addresses).
-> The π blockchain should therefore, by construction, be able to guarantee at least the same number of transactions per second.