Stock photography is the supply of photographs, which are often licensed for specific uses. The industry has established different kinds of models which includes but not limited to macrostock, midstock and midstock photography. Many popular stock photography platforms pay photographers just meagre amount of money for their work which is making the stock photography industry not as lucrative as it is meant to be. The unfair treatment of photographers will be solved by a technologically oriented team known as “Photochain”.
What is Photochain:
Photochain is a platform specialized in the trade stock photography which solves the problems of traditional stock photography platforms. Contributors at Photochain benefit from an extremely low fee of 5% of the selling price with the remaining 95% of the final sale price meant for the contributor which will invariably lead to contributors offering their works at a cheaper rate.
How does it work:
Photochain is built as a native blockchain decentralized app (dApp) on the Ethereum network and uses InterPlanetary File System (IPFS) to secure data across the network. The photochain specific smart contract is generated from the main smart contract which can be clarified by keeping the transferred amount under a smart contract until the buyer has received the work they purchased. The work will appear in the Buyer module which is available for downloading at his/her own conveniences.
There are some design requirements for the photochain DApp which results from current issues with microstock photography;
- Decentralized governing body; The photochain DApp network must be decentralized.
- Transactions are intended to be safe with access to its verification at any time between the 2 parties.
- Decentralized: Transaction data and works traded on DApp is encrypted and stored on the decentralized database using IPFS protocol and the photochain DApp.
- Work is permanently linked to the identity of the owner through with the use of Machine Learning Bots for copyright protection
- The type and kinds of content is well regulated to prevent any forms of offensive contents such as pornography or religiously biased photo.
PHOTON
Photon tokens are photochain token used in rewarding users across the Photochain Ecosystem. The tokens can be use in a accessing all services on the photochain platform and can also be used as a reward system for photographers and their services on the platform.
Crowdsale and Token Information
Name: PHOTON Token (PHT)
Standard: Ethereum ERC20
Currency accepted: ETH, BTC
Price per Token: 0.00017ETH
Main Sale Cap: 170,000,000 PHT
Hard cap: 230,000,000 PHT
NOTE: It may take up to 60 days to distribute the PHOTONS to contributors.
Token Allocation:
Token sale:-----------------------------------------79%
Management, Team and Legal:---------------14%
Adviser:---------------------------------------------4%
Bounty :---------------------------------------------3%
ICO Proceeds Usage by the Photochain Team;
IT Development:--------------------------------- 30%
Marketing:----------------------------------------- 30%
Copyright and licensing:----------------------- 10%
Infrastructure:------------------------------------ 8%
R&D and Platform Evolution:----------------- 5%
Legal, Accounting and Audit:------------------ 4%
Cooperation with Photo Agencies:----------- 4%
Allocation to Contributors:--------------------- 4%
Business development:------------------------- 3%
Conferences and Meetups:----------------------2%
Roadmap:
Conclusion:
Base on my personal research on the team, the vision and mission of this project, It can be deduce that the project is going to be a success as it already have the idea of what the project will look like since April 2017 with a launched demo in Sept 2017 for user testing and not all this common and usual ICO’s that do have ICO first before thinking of how to develop their project.
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1783749;sa=account
Useful Links:
Website: https://photochain.io/
Whitepaper: https://docs.google.com/document/d/1C4UPA9-9o2cOLJOEYMIVwN_Fi3Ebtn2YcRua58hQ7_0/edit
