ICO P08 Marine Archaeology Project in Blockchain Technology
Many historical artifacts and treasures are still today buried under the seas. Scientists argue that billions, if not trillions USD worth of treasures are hidden below the water surface. In order to recover those treasures, it not only takes millions of dollars, but also complicated legal processes, which differ from country to country.
Also auctioning those artifacts on currently existing centralised auction houses are not quite easy and are costly, since sales commision take up to 20 percent of the net worth. The Marine Archaeology industry is lined with chaos and challenges, which a current ongoing project called “Piece of 8” or in short “PO8” is going to face by using the blockchain technology.
PO8 aims to decentralize the Marine Archaeology industry by introducing 3 technologies, which will offer decentralized solutions for registration, authentication, and transfer of the treasures using the advantages of blockchain technology, such as decentralization, smart contracts, fast and secure transactions or transparency.
Goals of PO8
- Building a smart contract, which enables everyone to participate in bounty tasks to recover lost artifacts or treasure and be rewarded for their contribution;
- Building a registry system for the authentification of artifacts on the blockchain;
- Building a transparent auction house for selling and buying artifacts and treasures.
The Main Function of P08 base
- Historical Open Auction Platform (HOAP) PO8 is innovating without limits in devising a very successful way to trade those very high value assets. This will be through a decentralized auction that provides the safe, efficient and transparent transfer of these assets through Blockchain technology at a much lower cost than their counterparts.
- Government Artifact Auction System (GAAS) Under this technique, governments, museums and non-governmental organizations can record and document their valuable pieces and trade with their counterparts in a secure and transparent manner. All users of the system will be verified to ensure that they are government entities.
- PO8 Historical Artifact Registry System (PHARS) A decentralized registration platform used to determine the reliability and non-falsity of historical pieces through a unique signature system that exists in Blockchain for an indefinite period.
Technologies such as Blockchain technology usage (BTU), Decentralized Auctions, Maritime Artifact Data System (MADS), Client applications and Backend Systems. These technologies aids in the smooth running of PO8 platform.
The most essential of these technologies is the Client applications, as this will be the enabling interface with the user. The client application technology comprises of the ERC20 Full Wallet, Buyer Client App, Seller Client App and the Data Mining App.
P08 Platform Technology- will bring solution for managing all these SME and Startup businesses with the domain expertise, rich industry experience & proven management techniques. These solutions will be delivered through Knowledge Artifact, based on artificial intelligence and blockchain technology.
These solutions assure that the businesses are managed efficiently and their failure rate due to management reason is minimized, It's the technology that under pins digital currencies and ensures that all transactions are properly conducted and recorded. But what is stored on the blockchain need not be just a monetary unit-it can be put to all kinds of other interesting uses.
P08 Technology is revolutionized business process management application for SOP development & implementation. P08 plans to utilize artificial intelligence domain expertise and rich industry experience by integrating it into Maritime Artifact through Artificial Intelligence and blockchain technology.
This will cut down on time needed for research and development of every domain as robots has already developed Intellectual Property of more than 10 domains that they are already catering to. This shall speed up the turn around time from development to sales. As once the technology of Maritime Artifact is ready, the sales can be immediately started with these existing domains.
PO8 is currently doing its ICO to collect funds for research and development, marketing, but also for administrative and legal costs. In total 60% of the total token supply will be available for the public token sale. Here you find some information regarding the ongoing ICO:
- PO8 is a utility token based on the Ethereum Blockchain
- Softcap of 10 million USD (already reached)
- Hardcap of 30 million USD
- 1 PO8 Token costs 0,012$
- 6.000.000.000 tokens are available for sale
- Sale starts on the 15th june 2018
PO8 – A Reserve Backed Token
What is special about the PO8 Token is, that a part of the treasure such as gold or other metals will be put into reserve in order to ensure the value of the PO8 token.
Therefore PO8 aims to be a stablecoin. SILVER Tokens on the other hand are the native sub token of PO8. They are rewarded for doing bounty tasks and are based on the number of PO8 token holders. SILVER tokens can be easily exchanged for PO8 tokens or for other desired tokens on the exchanges.
Bitcointalk ANN: https://bitcointalk.org/index.php?t%E2%80%A6sg35770062