Photochain (PHT) ICO Review – ICO Token News
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.
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 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.
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.
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.
- Stanislav StolbergCo-Founder, CEO
Digital Transformation Manager
- Arthur IshmetevBlockchain Developer
- Haris RanaCMO
- Ralf GerteisBusiness Development
- Jakub StefańskiCTO
Software Engineer FinTech
Lead Blockchain Developer
- Fredi LienhardtPhotographer Relationships Officer
Professional Photographer, Entrepreneur InsurTech, Passion for digital & technologies
- Dr. Jeannette HeinertCommunications
Doctor of Medicine
- Artur GugelewFinancial Strategy Manager
Cash & Derivatives Exchange Specialist
- Brian ColwellBlockchain Evangelist
Marketing and Advertising
- Dylan SharkeySales and Investment Relations
Ex LinkedIn & Enterprise Ireland
- Samuel ManzaneraTechnology and Software Architecture Analyst
- Peter LaiBlockchain Developer
- 1April 2017
Idea, business case and market research.
- 2June 2017
Project evaluation. Development of the DApp prototype.
- 3September 2017
Strategy & Design. Go-Live of the DApp prototype.
- 4October-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.
- 5December 2017
Pre-Sale preparations. Private Pre-Sale at special discounts for eraly supporters.
- 6January 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.
- 7February 2018
Transition. Preparation for Main Sale Event .
Compliance and regulations.
Developing a more comprehensive Photochain DAPP version.
- 8Q1 2018
Main Sale event (ICO). Publishing of new collaboration partners.
Regulatory compliance for our Main Sale Event.
- 9Q2 2018
Operation. Photochain DApp Version 1.0 on the Ethereum. Mainnet.
Trading of the PHT Tokens at Crypto Exchanges.
- 10Q3 2018
Continual improvement. Photochain DApp as standalone client on all common operating systems.
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