PO8 - Bringing Marine Archaeology to the Blockchain

 

Introduction

The fascinating thing about archaeology is the discovery of ancient and maybe even legendary objects or fossils. When you have read Dan Brown books and heard of the Holy Grail, then you will understand this kind of fascination. You can’t put it in words, but there is a feeling inside you, which wants to know more about the object and its past. Unfortunately, a lot of treasures of mankind are lost in the depths of the sea. Experts are estimating the value of treasures under sea is exceeding billions of US dollars. In some cases, it’s even not possible to give the findings a figure.Just twenty years ago an expedition team found the Lost Kingdom of Cleopatra under sea. It’s estimated to have been lost for about 1600 years after earthquakes or tidal waves. The expediters found a considerable number of artefacts, which were still intact. Now the Egyptian government has plans to give interested people the opportunity to see these artefacts by offering some kind of underwater museum, which also might attract tourists. 

 

Challenges

Other than traditional archaeology marine archaeology is not as far developed due certain challenges:
• Difficulties of access => requires diving equipment and very advances diving skills
• Expensive equipment => if access is beyond reach of divers, then it’s necessary to have submarines or remote sensing equipment
• Working underwater also requires a working platform close to the spot
• Hazardous and dynamic environment due to currents, storms and tidal flowsThese points also make marine archaeology very cost expensive since the required equipment, tools, platform and the team for coordination, medical treatment and diving requires easily few million dollars for entering the industry.

How PO8 could contribute to the Marine Archaeology Industry

PO8 wants to contribute by forming a blockchain ecosystem by forming a foundation, which will hold exhibitions with the discovered artefacts and also by developing a decentralized, secure and transparent auction platform, where the discovered treasures can be traded. Another goal is to create a registry system, which will help to authenticate the treasures and give them security against frauds. The PO8 ecosystem will be built on four pillars:

1. Maritime Artefact Data System (MADS): With a proof of stake model for PO8 tokens, users who hold a certain amount of tokens can participate in treasure hunts. By contributing to the bounty hunt and completing tasks, users can be rewarded with SILVER tokens. These tasks for example can be analysis of sources and records regarding sonar data, geo mapping, historical documents, video patterns and a lot more. The data can be downloaded from the MADS central server and this way users can contribute to the treasure hunt and get a feeling of being part of an expedition.
2. Historical Open Auction Platform (HOAP): The platform will also play an important role in the PO8 ecosystem since treasures and artefacts can always be a fraud. By having an own decentralized auction platform PO8 can gain interest from people, who are interested in these treasures and who can be won as future users of the ecosystem.
3. Government Artefact Auction System (GAAS): This platform can be seen similar to the previous one, but it will focus on governments, museums and non-profit organizations, who are interested in trading artefacts and having them validated.
4. PO8 Historical Artefact Registry System: With help of the blockchain technology it can be ensured that artefacts can be registered to prevent fraudulent activities by having unique signature identifications, which will remain in blockchain and be secured against attacks.

 The AnswerPO8 is no doubt the answer to all these problems. Considering the barriers in salvage costs, the PO8 came up with the great idea to use the foundation of blockchain and cryptocurrency as a way to open up salvaging to anyone with an interest.First, PO8 creates smart contracts to enable any individual to participate in the search and recovery of treasures and be rewarded for performing bounty tasks aiding recovery efforts. Second, PO8 creates a blockchain artifact registry system ensuring authenticity of artifacts. Third, PO8 establishes a safe and transparent decentralized auction house ensuring responsible commerce of artifacts. This permits P08 to auction off a fraction of the recovered treasures and, subsequently, the open sourcing of the platform to anyone looking to create their own auction for high-end artifacts and treasures on the blockchain.The PO8 decentralized auction house and this is not limited to only PO8 tokenized assets. As our contribution to the world of high-end and precious treasures, relics, antiquities and cultural artifacts, the PO8 auction house is an open source and scalable product living on the blockchain. This enables anyone looking to perform an auction to use the P08 auction house with nominal transaction fees compared to bigger commissions in centralized auctions.PO8 understands the value of teamwork and aligning interests for the benefit of finding and sharing lost history with mankind. As part of PO8’s market entry strategy, PO8 has been working closely with the Maritime Affairs and Labour Department from the Ministry of the Commonwealth of the Bahamas. Through this relationship, PO8 has acquired an Abandoned Shipwreck salvage license. 

 The PO8 TokenUtility TokenUnlike securities tokens, PO8 and SILVER token holders will never receive any type of dividends or profit sharing. P08 and SILVER tokens represent future access to our DApps, and in no way, are they to be deemed as investments.Reserve backed PO8 tokenPO8 will set aside a portion of the treasures, such as gold or other precious metals, to the P08 Reserve. The P08 reserve will back the value of the P08 token, upgrading to a PO8 Stablecoin. 

 

Token metrics

Soft cap 10,000,000 USDHardcap: 30,300,000 USDPre-Ico time: 15.06.2018 – 15.07.2018Public sale date: 01.08.2018 – 30.09.2018Token Split: 10,000,000,000 PO8; 60% distributed in ICOSymbol: PO8, ERC-20 TokenToken price: 1 PO8 = 0.012 USD

Conclusion

The project seems very interesting and comes with a vision for a whole ecosystem, which could disrupt the marine archaeology industry. A very important fact is that the whole project is backed by the government of the Bahamas and there is already a planned partnership for a use case, which could benefit the government as well. The plan is to open the first Bahamas Archaeological Treasure and Maritime Museum and Interactive Marine Park. Both sides expect a increase in tourism and it could be the start for a great expansion with further governments, museums or even non-profit organizations. To put it in a nutshell, I would say that enabling more people to participate in treasure hunts, this could lead to further mile stones in the marine archaeology and new great findings should be found very soon. The more brains are participating the more effective and successful it will become. 

 The TeamPO8 Platform is initiated and backed with professionals with unquestionable wealth of experiences. Our team believes in the disruptive power of smart contracts, and will dedicate significant efforts to make them effective in Commercial Salvaging industries. So with them on the PO8 project wheel, you can be rest assured that your investment is in the right platform. 

 Website: https://po8.io/
Whitepaper: https://po8.io/#whitepapper
Telegram: https://t.me/joinpo8
Twitter: https://twitter.com/PO8Coin
Facebook: https://www.facebook.com/po8tech 

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