Photochain

The stock photography revolution

Photochain uses blockchain technology to reinvent photostocks around the buyers and the sellers.

Motivation

Nowadays we live in the innovative era of web 3.0 which enables a global network of people, with the aid of high data availability and high data throughput. The use of blockchain technology enables peer-to-peer (p2p) systems to operate safely and securely, without the need for a central authority. This technology opens up new horizons for software architectures and applications. It provides a safe and verifiable transaction list available to all users at any given time. With so-called Smart Contracts[1], Ethereum blockchain technology opens up the possibility of checking correct compliance with digital agreements by using a machine. Therefore, the conditions for the conclusion of a smart contract are met only if both parties have fulfilled their part of the digital contract. In doing so, the machine leaves no room for any malicious tampering. The flexibility of the Ethereum language ‘Solidity’ facilitates the implementation of many use cases, uses which until not too long ago would have been regarded as utopian.

With the p2p platform Photochain, we are releasing a new concept as the next generation of a stock photography platform. We use this technology to enable fair p2p trading of digital works between artists and buyers.

By doing so, the specialized terms of use for this platform, ensure a secure, uncomplicated and fair trading process for both parties. Moreover, the artist receives up to 95% of the final selling price.

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, and on their own terms. Photochain is a decentralised platform that uses Smart Contracts based on the Ethereum blockchain. Smart Contracts ensures the security of transactions on the platform. When a sale is made, the seller is paid, and the buyer receives the purchased picture simultaneously. This is all mediated by the smart contracts Thus, Photochain does not require a centralised authority to ensure the correctness of transactions. This reliability is inherently contained in the blockchain technology, and the Photochain platform has been designed from the ground up to solve the problems of traditional stock photography platforms. On top of this, machine learning is employed as solutions to the other problems photostocks exhibit and the wisdom of the community oversees the platform as a whole (see)

Photochain’s Mission

Photochain gives clear advantages over conventional photo stocks to both kinds of users: contributors and customers. Contributors at Photochain benefit from an extremely low fee — only 5% of the selling price. This opportunity to keep 95% of the final sale price allows contributors to offer their work cheaper, and 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

These profound market changes are only made possible by using blockchain technology, Smart Contracts, machine learning and Photochain’s own user community. Most of the processes become automated and decentralized, significantly reducing costs of platform governance. It’s unavoidable that more and more stock photography contributors and customers will prefer to use Photochain.

The development of the Photochain platform is an ambitious and organically growing process. Our main aims for the project come under three significant prongs

Marketplace

It is very important to us that only the artist themselves can determine the value of their work and that they are given the opportunity to offer their work to lots of potential buyers. Our platform provides this opportunity which is realised using synergies from Blockchain technology and machine learning.

Crypto Economy

The platform Photochain appeals to a broad audience that currently still aren’t adopters of blockchain and cryptocurrency technologies. The relatable use case of “Photochain” will appeal to this audience. The easy-to-use GUI and trading processes facilitate the onboarding process and supports the Crypto Economy to become mainstream.

Vision Photochain

P2P Market

We want buyers and sellers to set their own sales terms, so we allow them to trade directly with each other.

Easy Onboarding

Simple identity verification for all photographers. Unlike with traditional photostocks, users can actively sell the work in minutes.

Digital Copyright Chain

Our decentralized database ensures every uploaded photo is permanently connected with the owner. This link can not be changed deleted or manipulated in any way.

Crypto Economics

We help build the crypto economy, where we have more control over our data. A fairer economy where you are rewarded for your work.

Photo photo token

We embody Photochain DApp through the token sale Photon. We have successfully completed our personal pre-sale and our main sales will begin on March 25, 2018.

In line with best practices during major sales, the number of Photon token issued will have a realistic hard hat, at which point we will close the sale. IPM token will be issued after the end of the primary sale. It can take up to 30 days to distribute all tokens.

To prevent us from violating potential future regulations, we ask for KYC and anti-money laundering checks for each token sales contributor. It protects our contributors and us. It also reflects our long-term commitment to comply with all legal and regulatory requirements that may be required of us.

Photochain Main Sale

Photochain Crowdsale is an important milestone for the future of the project. The financing will mainly be needed to expand the Photochain Governance Team and the delivering the 1.0 version of the Photochain DApp.

Start date: 06.04.2018 at 8:00 am CET

End date: 18.05.2018 at 12:00 am CET

Maximum Amount of PHOTON Token: 230,000,000
PHOTON Token overall ICO Hard Cap (for sale): 170,000,000
Currency accepted: ETH, BTC
The exchange rate is 1 PHT = 0.12 USD (accordingly in cryptocurrency assets to the current exchange rates, time based discounts should be taken into consideration).

Minimum transaction: (0.1 ETH and corresponding value in BTC)

Maximum transaction: (1000 ETH and corresponding value in BTC)

Only sold and allocated tokens are minted (no need to burn unsold tokens)

Time based discounts for the PHT tokens price during the Main Sale Event:

Day 1 to 10: -30% discount => 1 PHT = 0.08 USD

Day 11 to 21: -20% discount => 1 PHT = 0.1 USD

Day 22 to 32: -10% discount => 1 PHT = 0.108 USD

Day 33 to 43: -5% discount => 1 PHT = 0.114 USD

Team

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