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.
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.
1. P2P Marketplace
2. Crypto Economy
3. Photochain Digital Copyright Chain: DCC.
The Photochain DApp is a platform on which artists have the opportunity to sell their work to a broad audience at a price they set themselves, 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 behaviour from the sellers. This means that the artist is responsible for the legality of the works he is selling, and is held fully accountable for any illegal activity. Photochain however, will uphold users copyright protection, by preventing unauthorised sale of photography.
The Photochain Governance is developing the new version of the DApp clients, offering new microservices and maintaining the vitality of the platform until Photochain has finished transitioning into a DAO. These functions require financial support because the team members work fulltime on these tasks. Additionally, the team runs the fundamental infrastructure that is necessary for the Photochain DApp to function, such as an IPFS Node, load balancers etc. All these support functions are why Photochain Governance takes a 5% fee – deducted from successful transactions. It is paid into the Ethereum wallet of the Photochain Governance. Since prices for the micro stock photography are very low, this means that, for example, with a stock price of 5 EUR for a photo, the fee is only 25 cents.
Photochain Token – PHOTON
Token Name – PHOTON (PHT)
Price per Token (in ETH) – 0.00017 ETH
Pre-Sale Cap (PHT Tokens) – 10,000,000
Main Sale Cap (PHT Tokens) – 170,000,000
Hard Cap (PHT Tokens) – 230,000,000
Token Privileges – platform utility token