Photochain is a peer-to-peer decentralized system focused on stock photography. The current stock photography industry is dominated by middle-men. These middle-men charge huge fees for individuals and organizations who are buying stock photography. They provide no transparency to the producers of the content, and they end up making most of the money. Photochain believes that the power should be in the hands of the buyers and sellers of the photography content, not middlemen. Photochain’s blockchain powered platform links the photography’s photo to them through blockchain technology. Their identity and the veracity of their work is verified, and content creators have more control in determining how much their work is actually worth. Photochain’s peer-to-peer marketplace, easy onboarding process, and crypto based economy set it apart from its competitors. The digital copyright chain prevents fraud, and the crypto economy gives content creators and photography buyers more options than they have at the moment. Let’s explore a bit more about how Photochain works.
How The Photochain DApp Works
According to the Photochain whitepaper, the platform’s DApp will have the following features:
• Decentralized governing bodies: The platform wants to ensure the decentralization of Photochain for its users.
• Security: Photochain wants to ensure that buyers and sellers have safe and verifiable transations.
• Decentralized storage: Photochain will use the IPFS protocol and the Photochain DB to ensure that all digital works traded on the platform are encrypted and stored in a decentralized manner.
• Content: The platform was designed exclusively for stock photography. It will not house other types of content.
• License terms: The platform will ensure that copyrights are protected.
How Photochain Could Improve Stock Photography—And That’s Why Users Will Switch
Ultimately, the users are going to decide whether or not Photochain is a success. The platform will have to convince users that Photochain is a better platform than existing systems. This won’t be as difficult as it sounds. As cryptocurrency goes mainstream, freelancers and other types of content creators will be among the first to adapt. Photochain’s platform adds several notable improvements over the current environment as well, namely more creative and financial control over the terms of photography sales. Photographers won’t have to worry about fraud on the platform, as blockchain technology keeps their identity and their work safe. As more creatives learn about cryptocurrency and blockchain technology, expect more photographers to make the switch to Photochain.
Photochain has already done a tremendous job getting the word out about their project. There is a lot of excitement around the Photochain platform and what it could bring to the cryptocurrency community. Photographers and other content creators are gradually learning more about cryptocurrency and how it could give them more control over the content that they produce. If Photochain has success, expect other blockchain based platforms to attempt to add a peer-to-peer marketplace for photography. However, Photochain will have a first-mover advantage, and it is likely that the community that they’ve built will stick with their platform for the long-haul. It will be interesting watching Photochain grow over the next several years.
Website link: https://photochain.io/
Whitepaper link: https://docs.google.com/document/d/1C4UPA9-9o2cOLJOEYMIVwN_Fi3Ebtn2YcRua58hQ7_0/edit
***Written by: Marcusthewriter (https://bitcointalk.org/index.php?action=profile;u=1803140)
