Kim Dotcom's K.IM: Pursuing Copyright Decentralization in Bitfinex IEO

Kim Dotcom, the controversial internet entrepreneur and founder of the now-defunct file storage platform Megaupload, is making a comeback in the digital content business.

This time, instead of a platform that allows users to download copyright songs and television series, Dotcom plans to use blockchain technology to create a fair digital content distribution market called K.IM.According to K.IM's white paper, the proposed project is pitched as a dynamic ecosystem that is "Aimed to become the easiest and the most secure way to generate revenue with digital content."

The project's road map also states that K.IM will be issued in the last quarter of 2019, with a token sale on Bitfinex set to take place on Oct. 22.While commenting on the project's development, Dotcom mentioned that "Combining the internet with Bitcoin gives a real chance of achieving the original promise of the internet," defining that promise as freedom of speech, finance and commerce.

"K.im will work on policies, designs, and technologies that attempt to address the many complex issues of international copyright compliance for user-generated content intermediary services and related risks."

For some, it is a little surprising that a defunct platform whose founder has been locked in a legal battle with the United States over copyright claims is now spearheading a project that will create a fair market for content creators.

In response, Dotcom has replied that the technology the project is built upon allows users to sell their content without K.IM's knowledge of what content they are selling.

IEOs as the new ICOs By definition, an IEO entails the partnership between a project and an exchange to sell the project's tokens through the exchange.

For this reason, the K.IM project has partnered with Bitfinex in what Dotcom calls "The perfect partner to help distribute the KIM tokens."

Given that 75% of IEO tokens have reportedly lost more than 50% of their value, how will Dotcom's project differentiate its value proposition for a successful token sale? Dotcom told Cointelegraph, "a token sale using Bitfinex was an easy choice." He added,.

Despite the noble intentions of the project and the choice to go the IEO way, certain drawbacks might trigger concern over the project's success.