Photochain is a new blockchain based platform that could ultimately disrupt the way that stock photography works. The current stock photography environment is one that isn’t conducive to the success of photographers. Photographers have to use centralized systems like Shutterstock that don’t protect their copyrights and pay them the bare minimum for their work. Meanwhile, these centralized middle-men get to charge sky-high prices to buyers who are looking to use these stock photos. Photochain decided there was a better way, one that respected the rights and content of photographers. The Photochain system is decentralized and peer-to-peer. That means there is no middle-men taking high fees from both sides of the transaction.
The Current Situation In Stock Photography
Photographers are getting paid far less than their market value in the current market. That is because they have to use centralized systems to find buyers, and the centralized systems put a premium on their service. If photographers didn’t have to pay these high fees, they’d find that they would get paid more for their work. With higher pay, photographers would be able to produce even more content. For buyers, the current situation isn’t much better. They have to rely on these centralized systems in order to find photos, and they end up paying higher rates than need be because of it.
The Photochain Business Model
Photochain will use the royalty-free (RF) copyright license as the standard license on its platform. Photographers will be able to provide their photos to the buyer for a one-time fee, and this will allow the buyer to use the photo on multiple projects without having to work with multiple types of copyright licenses. The whitepaper suggests that the platform will use RF as the standard license for exactly that reason—to simplify the purchasing process. However, Photochain also allows photographers to use the Rights Managed (RM) license, which is a type of copyright license that only allows a buyer to use the purchased work for a single time.
Photochain Gives More Control To Content Creators
Photochain is all about giving creative control and financial power back to content creators. Photographers will be able to determine how much they want to sell their photos for, and they’ll be able to negotiate directly with buyers. Eliminating the middle-man means empowering content creators and giving them back the freedom that they should never have had to relinquish. That is part of what makes the Photochain project so special. It isn’t just another blockchain project. Photochain will have a real-life impact on the lives of these content creators, who will now have greater control over what they earn for their work.
Photochain is likely to be successful because it has a real-world use case. There are plenty of blockchain projects that are being developed and hyped up that have yet to even find their use case. However, Photochain can be immediately deployed to benefit photographers and buyers of stock photography. These transactions will be faster, and will have greater benefits for both sides. Once Photochain really gets going, it will be difficult for centralized, high fee systems to catch up. That is why Photochain could experience explosive growth and become one of the biggest cryptocurrency projects in 2018.
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)