Photochain: A True Blockchain Business Model That Allows Any Contributor To Have Full Control Over The Licensing And Trade Of Digital Images

Hello investor, this time I will discuss the cryptocurrency project from Photochain. This news I took from Photochain website and whitepaper, here is the summary:

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.

What Is Photochain's ?

Photochain is a true blockchain based business model that, for the first time, enables any contributor to have full control over licensing and trading of their digital images. Photochain taps into new markets by redefining who the content creators are and empowers them to monetize their work in a fair and efficient way.

Photochain’s Mission

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

P2P Marketplace

It’s very important to us that only the artists themselves can determine the value of their work and they’re given the opportunity to offer their work to many potential buyers.

Crypto Economy

Photochain appeals to a broad audience of people that aren’t yet adopters of blockchain and cryptocurrency technologies. The relatable use case of "Photochain" will appeal to this audience. The easy-to-use GUI and the trading process facilitates the onboarding process and supports the Crypto Economy in becoming mainstream.

Photochain Digital Copyright Chain: DCC

Over the course of the project, more and more artists will be able to strengthen their copyright using the Photochain platform, since their works will be linked to their name. This link is manifested as a transaction in the Ethereum blockchain and is therefore visible to all users at all times. This means that the artist’s ownership of the image can be accounted for. The database with all manifested links has been constructed in a decentralised way, (for further details, see chapter 2 ). We call this database a DCC.

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.

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.

Photochain’s Ecosystem

The Photochain DApp is a platform specialized in the trade of stock photography, in which processes are reduced to a necessary minimum in order to guarantee simplicity and transparency.

Photochain DApp

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.

֍Photochain DApp Requirements

These are the design requirements for the Photochain DApp. The requirements result from current issues with microstock photography, which we have already presented in the previous sections:

Decentralized governing bodies: The Photochain DApp network must be decentralized.
Security: Transactions are intended to be safe and verifiable at all times for both artists and buyers.
Decentralized Storage: Transaction data, as well as all digital works traded on the Photochain DApp, should be stored decentrally and encrypted. Photochain will use the IPFS protocol and the Photochain DB
Content: The network is intended exclusively for the trade of stock photography. In particular, offensive content such as pornography will not be allowed.
License Terms: Observance of copyrights must be ensured.

֍Photochain Client

The picture above shows a schematic architecture DAP Photochain. The Photochain client is the main component. It will first be available as a web client and will then be developed for the current operating system starting with phase 2 of the project. The client is used to realize P2P interactions between the transaction partners and consists of several modules:

The Claim Module is used by Photochain users in order to act against copyright infringements. If a piece is suspected of infringing upon a copyright, the claim module will be invoked. In order to prove copyright infringement for a particular piece, a link to the original source, such as a stock photo, must be provided, from which it can be clearly deduced that:

The image is the same as on Photochain DApp
The author’s name is visible and it’s a different artist than the seller on the Photochain DApp

Our machine learning algorithm analyzes whether these requirements are fulfilled. If they are not fulfilled, the claim is automatically rejected, as it’s obviously not copyright infringement. If the requirements are fulfilled, then the moderators will decide over the legitimacy of the claim.

Photochain Token – PHOTON

PHOTON 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.

֍Use cases for the Photon Token are:

Rewarding the resolving of claims
Listing on a “featured photographer“ section
Service delivery from Photochain's partners (like our cooperation partner 1World)
Featured in search results
Other microservices, which will facilitate the Photochain Ecosystem in the future

֍Reward system

For the photographers and their services

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.

֍Photochain Token Details

About: PHOTON Token is the means of reward in the Photochain Ecosystem and represents the tokenization of digital visual works and services.
Name: PHOTON Token (PHTs)
Standard: Ethereum ERC20, utility based
Max Supply (Hard Cap): 230,000,000
Release date: issued after crowdfunding
Represented value: tokenization of digital visual works

Roadmap

֍April 2017

Idea and business case

Develop business plan
Market research

֍June 2017

Prototyping

Development of the DApp prototype
Start to form team

֍Oct - Dec 2017

Preparation for crowdsale

Marketing and preparation activities
Get support from blockchain and photography community
Register company in Estonia
Start to form advisory team

֍January 2018

Private ICO pre-sale

Private Pre-Sale at special discounts for early supporters
New partnerships
Onboarding Beta Customers/Advocates
Prepare ICO platform provided by Swisscom Blockchain AG

֍Apr-Jun 2018

Main ICO sale

Execute ICO with different stages and discounts
Establishing a connection to the Cryptovalley
Regulatory compliance
New collaboration in the photography industry
Minting of Photon tokens at the end of the ICO

֍Jul-Nov 2018

Prepare go-to market

Continue developing Photochain DApp
Mainstream adoption campaigns for Photography industry
Expand development team
Photography influencer support campaign
Trading Smart Contracts on Ethereum Mainnet
Adoption of Photon token/fiat exchange
Implementation of new IP Rights management
Acquisition campaigns (photography stocks) for fast scaling
Prepare operational services

֍Q4 2018

Launch Platform

Photochain API for better integration with other services
Partnering with a famous brand in the photography industry
Photochain Web - DApp 1.0 with basic functionality on main OS
Launch support services
Continue developing Photochain DApp

֍Q1-Q2 2019

Business Development

Client growth strategy
Accept new forms of payments
3rd Party Integrations
Integrating with other media blockchain DApps
Simplifying of UI
Paid microservices for strong revenue

֍Q3-Q4 2019

Market Expansion

Readiness for the complete mass adoption
blockchain as protocol in the background
Partnerships with agencies
Stabilizing the vitality of Photochain ecosystem
Supporting hardware gadget for Photochain
(camera support for the uploading the photo direct to Photochain)

֍Q1-Q4 2020

Market Domination

Photochain DApp becomes a standard for the fair photography trading
Photography stock Market Share of 10%

Team

Stanislav Stolberg

Co-Founder, CEO

InfoSec Consultant
Digital Transformation Manager
Arthur Ishmetev

Blockchain Developer

Software Architect
Full-Stack Developer
Haris Rana

CMO

Marketing Expert
Blockchain Enthusiast
Ralf Gerteis

Business Development

Interim Manager
Blockchain Enthusiast
Jakub Stefański

CTO

Software Engineer FinTech
Lead Blockchain Developer
Fredi Lienhardt

Photographer Relationships Officer

Professional Photographer, Entrepreneur InsurTech, Passion for digital & technologies
Dr. Jeannette Heinert

Communications

Doctor of Medicine
Blockchain Enthusiast
Artur Gugelew

Financial Strategy Manager

Financial Engineer
Cash & Derivatives Exchange Specialist
Brian Colwell

Blockchain Evangelist

Marketing and Advertising
Dylan Sharkey

Sales and Investment Relations

Ex LinkedIn & Enterprise Ireland
Samuel Manzanera

Technology and Software Architecture Analyst

Full-Stack Developer
Peter Lai

Blockchain Developer

Full-Stack Developer

Advisory Board

Lee Willson

Blockchain Advisor

Blockchain Ambassador
Alexander Sverdlov

Security Adviser

Cyber Security Strategy
CISSP
Audrey Baverel

Crypto Tax & Accounting Adviser

CFO, Founder, CEO Happen Consult, Ex Big 4 Senior Tax Manager
Marcus Schmitt

ICO Advisor

CEO bei COPYTRACK
Corporate development and Business scaling
Paulo Renato Dallagnol

Legal Adviser

Intellectual Property Lawyer
Copyright & Blockchain
Charles Becquet

Strategy

Marketing Executive
Photostock Industry Expert
Chang Liu

Assoc. Prof. at Ohio University

Decentralized Software
Engineering researcher
Jared Polites

Stratgey and PR Adviser

Blockchain Marketing

Former FBI Analyst

Go-To-Market Strategist
Roberto Capodieci

Blockchain and Investor Relations Advisor

Blockchain Tech Expert - Founder @ BlockchainZoo.com
Ilya Anikin

ICO, Investment and Strategy Advisor

Managing and Investment director of VC Funds Sferiq Venture Capital Fund and Imperious Group
Alex Fedosseev

Adviser

CEO & Founder at 1World Online and Mentor at Google LaunchPad