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Project Overview
Introducing to you a project platform that has come to lighten up Stock Photography industries.-#Photochain Platform is a decentralised platform built on guaranteeing security of transactions effectively based on predefined rules (that’s Blockchain Technology) unlike what it is of currently existing stock photography platforms.
Photochain Superb Team is working hard developing digital App which will be on ethereum blockchain. With this App platform, Artists can take control of the price they sell their works to their audience, that is to say that, here sellers will be fully and solely liable for the works they sell.
Challenges with the Traditional stoke Photography Market:
Since prices for digital content on photography microstocks are usually not high, good turnover can be achieved if the numbers of works sold are high.
For instance, if an artist would earn say $0.25 for each sold work; this implies that he has to sell 4,000 works so as to earn $1,000. Emphatically looking at this traditional approach, you can state without doubt how difficult it is for artist to make enough money.
Also, the stock photography market currently is being structured in a way that only a few key players like Shutterstock, Adobe’s Adobestock, Getty Images...Etc runs the show.
Other challenges include sellers not being able to be in-charge of their pricing, time wasting resulting of verification process, also, after the time wasted, the still stand a chance to have their works rejected by these few Photo stock gladiators who controls the market.
Solution/Advantages that Photochain platform offers
Photochain being a platform built on blockchain technology decentralises the market, making all artist boss of his own, marking the market open for everyone. This blockchain technology allows people to perform transactions of various kinds, peer to peer, putting away the need for central authority over the market.
Photochain being a p2p platform will be a pioneer for a better trading of digital works between artists and buyers. The term of use here, ensures a secure, easy to use and fair trading process for both parties. Now unlike the traditional platforms, Artists will receive up to 95% of the final selling price of their digital works.
Finally to round it up, photochain platform has been designed from the ground up, to proffer solutions to the challenges of traditional stock photography platforms, while still making effort in research to tackle perceived future problem.
Some unique features of Photochain Platform;
• Onboarding
Here with the app, when opening the web client, the user can either generate a new address in the ethereum network or import an existing one. This address is simply the wallet of the user and can be saved in the main smart contract.
• Photochain Network Governance
This develops new version of the clients’ as well as photochain smart contracts. It also implements the rules as well as running the system. And as well offers a team of moderators that will especially in the initial phase of DApp, be needed to resolve claims.
• Copyright
Here with photochain, a digital copyright chain is created. This chain will help in protecting each artist’s work from piracy as it fully records the link between each work associated to a particular artist and forbids another artist from selling the same kind of work.
• Security Consideration
The platform has been developed in line with the latest security standards and is subject to a continual improvement process.
How it Works
The figure above schematically shows the architecture of the Photochain DApp. The Photochain client is a central component. It will first be available as a web client and will then be developed for current operating systems beginning with phase 2 of the project. The client is used to realize the p2p interaction between transaction partners and consists of several modules. Some of these modules include; The Claim Module, The Content Verification Module etc…
Here, we will rely on the Ethereum blockchain when it comes to Photochain, as we are impressed by the platform’s flexibility, reliability and its long-term success. The global support of Ethereum by the Ethereum Alliance implies wide, interdisciplinary industrial acceptance and offers the necessary proof for the platform’s long-term existence.
Photochain Token – PHOTON
PHOTON token here, is utilized as a means of rewarding users across the photochain Ecosystem. Any type of transaction in the platform requires the use of photon token.
The PHT token is based on the following core properties:
• Name: PHOTON Token (PHT)
• Standard: Ethereum ERC20
• Hard Cap: 230,000,000 PHT tokens to be issued
• Release Date: Our Token Generation Event will take place right after the end of the Main Sale Event. It may take up to 60 days to distribute the PHOTON tokens to contributors
• Represented value: tokenization of photography services
Photochain Roadmap
Photochain Main Sale
The Photochain Crowdsale is an important milestone for the future of the project. The financing will mainly be needed to expand the Photochain Governance Team and for delivering the 1.0 version of the Photochain DApp.
ICO Main Sale II “Braveheart Sale III ”:
(open sale, non-capped within hard cap limit)
Here, for the sake of this article, it’s important to note here that main sale I & II including pre-ico was omitted, this is intentionally done because their End dates are already passed .
Start date: 09.05.2018 at 00:00 pm CET
End date: 11.06.2018 at 23:59 pm CET
Time based discounts for the PHT tokens price during the Main Sale III Event:
-15% discount => 1 PHT = 0.102 USD
with optional (voluntary) vesting period of 4 months: -20% discount => 1 PHT = 0.096 USD
Maximum transaction amount = 10,000 ETH
ICO Main Sale III “Remnant Sale”, for additional 20 days:
(open sale, non-capped within hard cap limit)
Start date: 11.06.2018 at 00:00 am CET
End date: 30.06.2018 at 23:59 pm CET
Time based discounts for the PHT tokens price during the Main Sale III Event:
Day 01 to 10: -10% discount => 1 PHT = 0.108 USD
with optional vesting period period of 8 months: -15% discount => 1 PHT = 0.102 USD
Day 11 to 20: -5% discount => 1 PHT = 0.114 USD with optional vesting period period of 10 months: -10% discount => 1 PHT = 0.108 USD
Maximum transaction amount = 10,000 ETH
General ICO Sale Information/ Token Economics:
Maximum Amount of PHOTON Token: 230,000,000
PHOTON Token ICO overall Hard Cap (total tokens for sale): 180,000,000
Currency accepted: ETH, BTC
The exchange rate is 1 PHT = 0.12 USD (cryptocurrency equivalent at real-time exchange rates at time of transfer, time based discounts apply)
Minimum transaction: (0.2 ETH and corresponding value in BTC)
Maximum transaction: (dependent on sale phase. Between 25 ETH and 10,000 ETH - corresponding value in BTC)
Only sold and allocated tokens are minted (no need to burn unsold tokens)
For more information and full details of this project, visit any of the following channels;
Website: https://photochain.io/
Whitepaper: https://docs.google.com/document/d/1C4UPA9-9o2cOLJOEYMIVwN_Fi3Ebtn2YcRua58hQ7_0/edit?usp=sharing
Twitter: https://twitter.com/photochain_io
Author: Prinox2
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Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2096838