Periodic Reporting for period 1 - PROOFY (Protecting Creations Made Easy. Unique Innovative solution to protect intellectual property of original works in digital format in an easy and cost-effective way)
Reporting period: 2017-05-01 to 2017-08-31
The final marketable PROOFY app will address creators’ needs by:
1. Using a widely recognised timestamp on the certificate of existence, thus providing indisputable evidence of ownership
2. Providing an easy to use, affordable, and quick copyright protection
3. Delivering a data integrity validation feature to prevent unauthorised modification of files
4. Providing the copyright service over a secure connection
Survey of over 400 potential B2C PROOFY users
Evaluation of whether PROOFY provides a sufficient grade of security for penetrating the US market
Evaluation of whether the technology for the data integrity, transfer, storage and security acceptable for a market-ready version of PROOFY.
Evaluation of the user interface and user experience.
Market study and assessment of the target customers.
Freedom-to-operate analysis in the selected target markets.
Business plan and sales projections.
The results of the feasibility study indicate that PROOFY’s critical technical features will be suitable enough to address user needs when it is commercialised in 2019. There is significant revenue potential for PROOFY within the foreseeable horizon. The project will cost an estimated €710,766.35 to complete.
After 3 years in the market, PROOFY will yield a profit of €2,349,126.