Can Story Protocol Tokenize the $70 Trillion IP Market? | Jason Zhao

This episode explores the potential of tokenizing intellectual property (IP) on the blockchain, specifically using the Story Protocol. The discussion begins with a skepticism towards the compatibility of IP, a nation-state construct, with the decentralized nature of blockchains. Against this backdrop, the guest, Jason Zhao, pitches Story Protocol as a solution to the high friction and inefficiency in the current IP market, where even simple licensing processes are prohibitively expensive. More significantly, Zhao argues that Story Protocol, similar to stablecoins bridging traditional finance with crypto, aims to create a decentralized IP system, acting as a payment network connecting IP holders with users. For instance, the creation of a Darth Vader lunchbox, currently a complex legal process, could be simplified through a smart contract call. The conversation further delves into the challenges of defining and enforcing IP rights in a decentralized environment, highlighting Story Protocol's approach of providing on-chain attestation and a legal framework alongside its technological infrastructure. Ultimately, the episode suggests that Story Protocol's vision is to not only streamline existing IP transactions but also to foster a new era of decentralized IP creation and unlock the potential of human creativity in the age of AI, thereby creating a more efficient and accessible IP market.