Skip Navigation

Photochain (PHT) ICO Review – ICO Token News

Introduction

Today blockchain technology is enabling a global network of people to perform transactions of various kinds, peer to peer, without the need for a central governing authority.  These new innovations allow people to verify these transactions safely and securely at any time. Photochain is a peer to peer platform, releasing new concepts for a next generation stock photography platform.  Photochain will be a vehicle for fair trading of digital works between artists and buyers. The terms of use ensure a secure, easy to use and fair trading process for both parties.  Artists will receive up to 95% of the final selling price of their digital works.

Photochain DApp as a Solution to the Artist’s Problems

By developing the Photochain platform, we present the possibility for artists to sell their works directly to their customers, on their own terms.  Mediated by Smart Contracts, when a sale is made, the seller is paid, and the buyer receives the purchased picture immediately.  Thus, Photochain doesn’t require a centralised authority to ensure the correctness of transactions. This reliability is inherently contained in the blockchain technology. The Photochain platform has been engineered from the ground up, to solve the problems of traditional stock photography platforms. For ongoing development, the wisdom of the community oversees the platform and machine learning is employed to find solutions for other problems. Photochain has clear advantages for contributors and customers. Contributors at Photochain benefit from an extremely low fee – only 5% of the selling price. Keeping 95% of the final sale price allows contributors to offer their work cheaper.  Consequently the market becomes more affordable for customers. This type of fair market not only benefits the users, but should benefit the photography industry as a whole, as the possibility of increased income incentivizes contributors to perform better. The ICO countdown has already begun for this token.

Photochain Platform

With all currently existing stock photography platforms, the only way security of transactions can be ensured is via central control. Our platform 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 fulfill 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 themselves set, 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 behaviours of the sellers. The artist is responsible for the legality of the works they are selling, and is held fully accountable for any illegal activity. However, Photochain will uphold users copyright protection, by preventing any unauthorised sale of photography.

Ethereum Network 

Ethereum is a p2p network that provides a platform for implementing Smart Contracts and is based on its own public blockchain. Ethereum uses the cryptocurrency Ether as a means of payment for the computing power that participants provide to the distributed system. The Smart Contracts are written in the programming language Solidity which has been specifically developed for Ethereum. The Photochain Main Smart Contract has been developed to ensure everything runs smoothly during the trading process. This Smart Contract is a template. A Smart Contract specific to the transaction is generated from this template when a purchase is made.

The Photochain Specific Smart Contract is generated from the Photochain Main Smart Contract. The structure of the Photochain Specific Smart Contract can be clarified by the following description: When purchasing the work, the buyer carries out a commercial transaction with the seller.  The important data for the deal, such as the price, the description, and the seller’s name, are all stored in this Smart Contract. The seller is then asked to transfer the amount from his wallet in PHT. The Smart Contract will keep the transferred amount until the buyer has received the work they purchased. The work will appear in the Buyer module and is available for download. This ensures both parties have fulfilled their part. The transaction is stored on the Ethereum blockchain.

Photochain DAO

A “decentralized autonomous organization” (DAO) is an organization governed by an initial set of rules and codified into Smart Contracts. This organization’s biggest strength is rooted in the decision-making capacity of its community as future developments and changes undergo a democratic voting process.  Some of the Photochain DAO’s most interesting qualities are the possibility of scaling, lack of a single unit or person for criticism and the instinctive commitment to the rules of the game, thanks to the Smart Contracts. Photochain Governance and the moderators are responsible for the stability of the platform. Moderators differ slightly in that they are rewarded for their contribution. Studies suggest that creating personal agency amongst users of such platforms, or networks, enhances the long-term development of the platform.

Photochain Token

PHOTON ICO tokens are the means of rewarding users across the Photochain Ecosystem. Any type of transaction on the platform will require the use of PHOTON Tokens. The number of PHOTON tokens will be strictly limited by the declared Hard Cap. After the Crowdsale 21% of the PHOTON Tokens will be reserved for the Team, Advisory board, Photochain partners and legals. After this event, no other PHOTON Tokens will be issued.  Due to the common regulatory situation, it is important to note that PHT is purely a utility token, which does not replace fiat currency and cannot be treated as a currency or an investment asset. In no case can PHOTON Token be regarded as a security token or similar. Rather, they’re to be regarded as a means of exchanging services in the Photochain Ecosystem. Check ICO list to know more about ICOs.

Team

  • Stanislav Stolberg
    Stanislav Stolberg
    Stanislav Stolberg
    Co-Founder, CEO
    InfoSec Consultant
    Digital Transformation Manager
  • Arthur Ishmetev
    Arthur Ishmetev
    Arthur Ishmetev
    Blockchain Developer
    Software Architect
    Full-Stack Developer
  • Haris Rana
    Haris Rana
    Haris Rana
    CMO
    Marketing Expert
    Blockchain Enthusiast
  • Ralf Gerteis
    Ralf Gerteis
    Ralf Gerteis
    Business Development
    Interim Manager
    Blockchain Enthusiast
  • Jakub Stefański
    Jakub Stefański
    Jakub Stefański
    CTO
    Software Engineer FinTech
    Lead Blockchain Developer
  • Fredi Lienhardt
    Fredi Lienhardt
    Fredi Lienhardt
    Photographer Relationships Officer
    Professional Photographer, Entrepreneur InsurTech, Passion for digital & technologies
  • Dr. Jeannette Heinert
    Dr. Jeannette Heinert
    Dr. Jeannette Heinert
    Communications
    Doctor of Medicine
    Blockchain Enthusiast
  • Artur Gugelew
    Artur Gugelew
    Artur Gugelew
    Financial Strategy Manager
    Financial Engineer
    Cash & Derivatives Exchange Specialist
  • Brian Colwell
    Brian Colwell
    Brian Colwell
    Blockchain Evangelist
    Marketing and Advertising


  • Dylan Sharkey
    Dylan Sharkey
    Dylan Sharkey
    Sales and Investment Relations
    Ex LinkedIn & Enterprise Ireland
  • Samuel Manzanera
    Samuel Manzanera
    Samuel Manzanera
    Technology and Software Architecture Analyst
    Full-Stack Developer


  • Peter Lai
    Peter Lai
    Peter Lai
    Blockchain Developer
    Full-Stack Developer


Milestones

  • 1
    April 2017
    Idea, business case and market research.
  • 2
    June 2017
    Project evaluation. Development of the DApp prototype.
  • 3
    September 2017
    Strategy & Design. Go-Live of the DApp prototype.
  • 4
    October-November 2017
    Preparation for crowdsale. Communication and marketing activities.
    Commitment of the Blockchain Community. Commitment of the photography community. Legal form. Advisers and new team members.
  • 5
    December 2017
    Pre-Sale preparations. Private Pre-Sale at special discounts for eraly supporters.
  • 6
    January 2018
    Private Pre-Sale preparations. Private Pre-Sale at special discounts for early supporters. Enhanced documentation and planning. New team members. Community growing. New partnerships.
  • 7
    February 2018
    Transition. Preparation for Main Sale Event .
    Compliance and regulations.
    Developing a more comprehensive Photochain DAPP version.
  • 8
    Q1 2018
    Main Sale event (ICO). Publishing of new collaboration partners.
    Regulatory compliance for our Main Sale Event.
  • 9
    Q2 2018
    Operation. Photochain DApp Version 1.0 on the Ethereum. Mainnet.
    Trading of the PHT Tokens at Crypto Exchanges.
  • 10
    Q3 2018
    Continual improvement. Photochain DApp as standalone client on all common operating systems.

Be the first one to know about new ICOs.
Submit your information here!

You might be interested in these similar ICOs

Comments

avatar
  Subscribe  
Notify of

Buy crypto currencies easily with a credit card.Buy here

Get more info about ICOs

Scroll Up