FAQs

Discover the BlockLicense project through a list of most frequently asked questions

General

What is BlockLicense?

The BlockLicense is a decentralised Ecosystem, built on Ethereum, that enables fair licensing, pricing and distribution of creative content and aims to liberate creators from intermediates. It is a complete solution that provides plugins for popular design software, a browser extension, a standalone BlockLicense Token wallet (desktop app) as well as a web-based platform where Buyers can easily acquire a license for their required content.

What is the License Coin (LCN)?

The License Coin (LCN) is an ERC20 token created to enable all transactions within the BlockLicense ecosystem and tools.

What is the Ethereum?

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. Read more here.

Who is BlockLicense targeting?

The project is built to target a broad audience: Creators of various digital content types including photos, videos, audio files, documents and others. It gives the freedom to the creative community to have the full control of their work,  by setting their own licensing and pricing options. Additionally, anyone in the web who wants to purchase or/and resell files in a more fair distribution environment.

Is BlockLicense designed only for licensing and purchasing of ClosedLicense files?

No. BlockLicense is also designed to support donations for Open Source files via OpenLicense option similarly to ClosedLicense. At BlockLabs we are strong supporters of Open Source and believe that Open Source work deserves promotion and visibility that can allow creators to sustain themselves and support their work. With OpenLicense we aim to standardize the way Open Source projects are funded by enabling Creators to attach an Open Source license to their work and accept donations.

Which file formats can I license through BlockLicense?

Plenty! BlockLicense supports several file formats such as

Video
WMV, FLV, AVI, MOV, MPEG-4, SWF, AVCHD, P2, Sony HDV, XDCAM

Audio
WMA, AIFF, WAV, MP3, MPEG-2

Photo
JPEG, JPEG2000, DNG, PNG, BMP, TIFF, GIF

Vector
SVG, EPS, PS, PDF, AI

Document
PDF, PS, EPS, UCF

Digital Design Software
AI, PSD, INDD, INDT

As the development of the project progresses BlockLicense will support additional popular file formats.

Could someone who uses the BlockLicense widgets to read the file’s license if it has been applied from any other BlockLicense tool from the Ecosystem?

Yes. Once a digital file is licensed with any of BlockLicense Ecosystem tools, it can be read and managed in the same way no matter which tool is used from the Ecosystem afterwards.

When will BlockLicense Ecosystem be ready?

According to BlockLicense Roadmap, it is expected to launch the first tool of the Ecosystem, the desktop app, within Q4 2018. The rest of the tools will follow and should be ready by Q2/3 2019.

What is BlockLicense’s value against current solutions?

BlockLicense provides the freedom to Creators, not only to set their own licenses in their files, but also to receive a generous 98% of profits instantly made from work sold, when current solutions offer less or no benefits and flexibility when it comes to payments and  attribution of work.
In addition there are no fees connected to subscriptions or other hidden costs, for both Creators and Buyers, and files are automatically and permanently stored in the Ethereum ecosystem, thus validation of ownership is guaranteed.
Last but not least, it opens a new door to Buyers,  for further business opportunities via reselling option: individuals are able to to create their own marketplaces (websites, platform, blogs) where they can offer/vend files licensed using BlockLicense. Also, Creators can gain greater exposure of their work since their creations can be distributed & sold through multiple channels.

What is the EGG innovation center?

The “egg – enter•grow•go”, is a holistic entrepreneurship acceleration programme by Eurobank and Corallia, reaching out to young teams with creative and innovative ideas. Participants of the program (teams) have access to a reliable network of mentors and partners with experience in start-ups’ acceleration; a focused, hands-on educational programme on business development; and value-added, one-stop-shop services to support business operation and growth. Read more here.

Can I learn more about Eurobank Group?

The Eurobank Group is a robust financial organisation that operates in 7 countries. The Group develops financial products and services, focusing on customers and their needs. It offers sophisticated choices and well-rounded services to individuals and businesses. The Eurobank Group operates with transparency, builds credibility and applies modern corporate governance practices. For more information read here.

What is the long term target of BlockLabs and BlockLicense project?

BlockLicense is a revolutionary project that aims to completely alter the way that creative work is distributed and funded and to have a positive impact on both creators and buyers.
BlockLabs believes that BlockLicense could become the ‘standard’ in digital file licensing and funding, via easy-to-use tools created with blockchain technology to bring realistic value to everyday practices.

ICO

When will the Pre-Sale start and end?

The pre-Sale Stage 1  is estimated to start at 2nd of April 2018 and will be open for contributions for four (4) consecutive weeks.

How can I participate in Pre-Sale?

By following the instructions as provided in Join ICO. Before participating it is important to read thoroughly the Terms of Use and the Pre-Sale Agreement. Participants should meet all requirements in order to participate in the Pre-Sale.
Personal information such as name of participant and email address are required fields for the Pre-Sale process, and absence of these data will result in banning the participation.

What is the minimum funds that I can send to purchase LCN coins?

The minimum purchase order is set at 0.1ETH, therefore funds lower than 0.1ETH will not be accepted by the system.

How many LCN will be created?

700,000,000 License Coins (LCN) will be created in total.

How many License Coins (LCN) will be available for purchase during Pre-Sale and ICO stages?

70% of total LCN created will be available for purchase during Pre-Sale and ICO stages. This is translated to 490,000,000 LCN in total.

How many License Coins (LCN) will be available for purchase during Pre-Sale period?

At Pre-Sale, 5% of total LCN created, 35,000,000 LCN, will be available for purchase, excluding Bonus and Bounty tokens. For more information, visit Join ICO.
Bonus and Bounty tokens will be paid out from company’s reserve (30% of total tokens created).

When will I receive my LCN purchased during Pre-Sale period?

At the initiation of ICO Stage-2, scheduled two (2) weeks after the completion of pre-Sale Stage 1.

How many LCN will I receive if I send 1 ETH during the Pre-Sale?

By sending 1 ETH you will receive 2000 LCN (LCN = License Coins) plus Bonus. The amount of Bonus LCN depends on the date of contribution. For more details on tokens sale and related bonus scheme, please visit Join ICO.

Can I receive LCN using other cryptocurrencies or fiat?

No. Contributions are enabled exclusively via ETH. Please make sure that you send ETH only from an ethereum desktop or online wallet such as My EtherWallet or other similar ERC20 ethereum wallets.

Attention! ETH send from exchanges will be lost and BlockLabs will not be responsible for any compensations/refunds.

How can I participate in the Bounty program?

By following the instructions provided under Bounty page.

When will I receive my Bounty tokens?

Bounty tokens will be send out to ambassadors at the end of ICO Stage 2. For more information, please visit Bounty page.

How do I enable my ethereum based ERC20 wallet to receive LCN?

First of all you need to have an ERC20 wallet in order to receive LCN tokens.The choice of the wallet is up to you, but for example purposes let’s assume that your wallet of choice is MyEtherWallet (MEW).

If you don’t have MyEtherWallet , then you should visit the official site https://www.myetherwallet.com/ , to get one. Please avoid using other sites that provide links to download MEW, as they may be scams and may result in losing your funds.

Once you have set MyEtherWallet (MEW), then create a new wallet by placing a password of your choice that you then save somewhere safely.

Then you will be provided with your private key, which you also need to save.

Once you have stored your private key, select any of the recommended ways to access your wallet.

In this example, the Metamask option has been selected.

From your browser extension choose Main Ethereum Network >> Add Token

Then fill out the required fields as shown below

License Coin (LCN) data are:

LCN Contract address: xxxxxxxxxxxxxxxxxxxxxxxxxx
Token : LCN
|Decimals: 18

Will I be able to purchase or sell my License Coins (LCN) through a cryptocurrency exchange platform?

Yes. BlockLicense will be sent for listing to all major cryptocurrency exchange sites. Updated news and dates when you can trade License Coins (LCN), will be announced through BlockLicense news and direct e-mail newsletters.

Demo

Why do I need to get ETH (test) to use the demo?

Since BlockLicense demo app is built on Ethereum test network, you will need to have some test ETH in your wallet in order to perform transactions , as it imitates the main Ethereum network where a small gas fee is applied.

How do i get ETH (test) from faucets?

To receive test ETH for free, follow the instructions here.

Do test ETH cost?

No. Test ETH provided by faucets are free to acquire and use. In reality they have no value as they are ETH dummies for testing purposes only.

Is it free to download the BlockLicense demo?

Yes, always.

Will it be free to download the BlockLicense Ecosystem tools when those are launched?

Yes, always.

Fees

What are the 2% fee applied per every BlockLicense transaction?

A 2% fee is applied to every transaction within the BlockLicense Ecosystem, to ensure that all costs related to  system maintenance and operation are covered, making BlockLicense project viable and capable in providing further innovative features in the future.

25% BONUS

Join pre-ICO

Invest now before stock exchange and get 25% bonus token

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