PHOTOCHAIN - The Next Generation of Photostocks
The buzz about cryptocurrency is increasing, people have heard about it, and more and more people want to find more about it, and find a way to be a part of it. When blockchain technology came, so many things changed, for better, we say. So many businesses have improved, so many companies have started using crypto currencies in their work. The new ideas are coming every day. People want to invest in the new projects. We have the biggest tool in the world, and it is called the Internet. The internet is a enormous base of information where we can do anything. Internet has connected the entire world. One of these company is Photochain, which is a DApp, a decentralized application, built on top of the Ethereum blockchain and IPFS protocol.
Photochain is DApp, a decentralized application, built on top of the Ethereum blockchain and APFS protocol. Using blockchain technology, the Photochain DApp returns the control and the trust of the photography marketplace to the content producer.
The goal is to pay photographers more for their work than they currently earn on centralized stock photography platforms. The Photochain website claims that many popular stock photography platforms pay photographers just 23% of the final price for their work. In comparison, Photochain wants to pay photographers 95%.
Photochain also emphasizes a fast verification period and fast payment times. Plus, photographers will be able to set their own prices.
How does Photochain works?
Photochain is built as a native blockchain decentralized app (dApp) on the Ethereum network. The app uses InterPlanetary File System (IPFS) to secure data across the network.
The Photochain dApp emphasizes four core features and functions, including:
Photochain provides blockchain-based security for buyers and sellers so “you can trust your works are safe.”
Digital content is encrypted and stored on the decentralized database. No central business controls your uploaded photography.
Your work is permanently linked to your identity through the blockchain, creating a new blockchain-based form of copyright protection.
The decentralized app can be used exclusively for trading photography. Photochain will sue bots “to ensure only acceptable content is listed.”
One of the core benefits of Photochain is its copyrighting system. They call it Photochain Digital Copyright Chain, or DCC. Artists can link their works to their name, then secure that connection using the blockchain. The Ethereum blockchain secures the transaction, making it visible to users at all times. Anyone can check the Ethereum blockchain to verify that content is copyrighted by a particular person.
Features of PhotoChain
Photochain offers all of the following features:
Users can use the Claim Module to act against copyright infringements. If a piece of content is suspected of infringing upon copyright, then users can use the Claim Module.
Claims will be processed based on whether or not the image is the same as the one posted on the Photochain DApp, and whether or not the author’s name is attached to that image according to the blockchain.
Photochain’s machine learning mechanisms will analyze whether these requirements are fulfilled, then issue compensation. Larger compensation will require the input of moderators.
The seller module gives sellers a simple way to offer pieces for sale on the Photochain app.
Content Upload Module
If you decide to sell a piece on the Photochain app, then you’ll upload photos through the Content Upload Module. After upload, your files will be stored on the IPFS network.
Content Verification Module
This module verifies whether or not your copyrights are infringed upon or if the content contains illegal materials. The module uses the IPFS Photochain node to accomplish this.
Buyers can use this module to easily search for photos available to purchase. The Buyer Module includes contextual searches using tags, searching of similar images, and more.
Payment Wallet Module
The payment wallet module has access to the Photochain user’s Ethereum address.
Transaction Data Module:
The transaction data module processes transactions.
Overall, Photochain emphasizes high availability, decentralized use, structured data storage, data erasure, and speed.
Market Opportunities for Photochain
According to information from a well-known photography stock, its turnover in 2016 has been estimated at $756 million. There are a total of 1.7 million active buyers and 100,000 artists on this platform. These figures could increase significantly for 2017.These key figures demonstrate the vast potential of this market. Moreover, allowing artists to receive up to 95% of the profit margin significantly increases the Photochain p2p platform’s potential for adoption and standard use.
With all currently existing stock photography platforms, the only way that security in transactions can be ensured is via central control. Compared to that, we are creating a platform that works autonomously, securely and efficiently based on predefined rules.We are developing the Photochain DApp  on the Ethereum blockchain. Additionally, Photochain also uses computer vision (machine learning) to fulfil the specific technological requirements of stock photography.The Photochain DApp is a platform on which artists have the opportunity to sell their work to a broad audience at a price they set themselves, and where sellers are also fully and solely liable for the works they sell themselves. The Photochain Team does not have any liability or responsibility for illegal behaviour from the sellers. This means that the artist is responsible for the legality of the works he is selling, and is held fully accountable for any illegal activity. Photochain however, will uphold users copyright protection, by preventing unauthorised sale of photography.
Photochain Token ( Photon)
PHOTON token is the means of rewarding used across the Photochain Ecosystem. Any type of transaction on the platform will require the use of PHOTON Tokens. The PHT token is based on the following core properties:
• Name: PHOTON Token (PHT)
• Standard: Ethereum ERC20
• Hard Cap: 230,000,000 PHT token 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.
11% Team & Management
7% Bounties and Partners
3% Legal & Advisory
Use of Proceeds
30% IT Development
5% R&D and Platform Evolution
4% Legal, Accounting and Audit
4% Cooperations with Photo Agencies
4% Allocation to contributors
3% Business Development
2% Business Development
April 2017 Idea
Idea, business case and market research
June 2017Project evaluation
Development of the DApp prototype
September 2017Strategy & Design
Go-Live of the DApp prototype
October-November 2017Preparation for crowdsale
Communication and marketing activities Commitment of the Blockchain Community Commitment of the photography community
Advisers and new team members December 2017Pre-Sale preparationsPrivate Pre-Sale at special discounts for early supporters
January 2018Private Pre-Sale preparations
Private Pre-Sale at special discounts for early supporters Enhanced documentation and planning New team members Community growing New partnerships
Preparation for Main Sale Event Compliance and regulations Developing a more comprehensive Photochain DAPP version
Q1 2018Main Sale event (ICO)
Publishing of new collaboration partnersRegulatory compliance for our Main Sale Event
Photochain DApp Version 1.0 on the Ethereum Mainnet
Trading of the PHT Tokens at Crypto Exchanges
Q3 2018Continual improvementPhotochain DApp as standalone client on all common operating systems
Stanislav Stolberg - Co-Founder, CEO
Arthur Ishmetev - Blockchain Developer
Haris Rana - CMO
Ralf Gerteis - Business Development
Jakub Stefański - CTO
Dr. Jeannette Heinert - Communications
Alexander Sverdlov - Security Adviser
Brian Colwell - Blockchain Evangelist
Dylan Sharkey - Blockchain Evangelist
Samuel Manzanera - Technology and Software Architecture Analyst
Peter Lai - Blockchain Developer
Sven Moeller - ICO Strategy Adviser
Paulo Renato Dallagnol - Legal Adviser
Charles Becquet - Strategy
Chang Liu - Assoc. Prof. at Ohio University
Alex Fedosseev - Advisor
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
Website — https://photochain.io/
Twitter — https://twitter.com/photochain_io
Medium — https://medium.com/@photochain
Instagram — https://www.instagram.com/photochain.io/
Telegram : https://t.me/photochain_io
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1326035
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.