Exploring The Photochain Whitepaper
Photochain could bring true change to the photography industry. At the present moment, the stock photography industry is centralized. Middle-men take huge fees from content creators and from buyers. Photographers must pay these middle-men to get their content on their centralized servers for potential buyers to find. And buyers are paying marked-up prices because middle-men believe that they are providing a service that can’t be found anywhere else. Photochain’s blockchain platform is aiming to change that. Photochain is a decentralized, peer-to-peer marketplace with an exclusive focus on photography. Photographers and buyers will be able to trade without the hassle of dealing with middle-men and centralized systems. Photochain verifies the identity of the participants and the authenticity of the photos, making the transactions trustless and secure. Let’s evaluate the Photochain whitepaper to learn more about the project.
What Is The Motivation Behind Photochain?
The Photochain whitepaper details the motivation behind the creation of the platform. Photochain was built because current sales conditions are unfavorable to artists. Platforms like Shutterstock and Adobe Stock only give content creators a small percentage of the total revenues they produce. Photochain built its DApp specifically as a solution for artists’ problems in the current marketplace environment. Photochain is built on top of the Ethereum blockchain, and thus can use smart contracts in order to allow for buying and selling in a trustless manner.
How The Photochain Platform Works
The whitepaper makes it clear that the Photochain platform’s governance will not change the initial platform rules. The circulating supply of the PHT token will also not be changed. The Photochain platform cannot withdraw funds for users or freeze accounts. However, the Photochain governance is allowed to pursue the following actions:
• Blocking a buyer after an entitled claim.
• Establishing new versions of the web client.
• Develop new versions of Photochain smart contracts until Q4 2019, when Photochain becomes a DAO.
The Platform Roadmap Page
Here is the roadmap for the Photochain platform:
April 2017: Idea is formulated and market research is conducted.
June 2017: Development of the DApp prototype.
September 2017: DApp prototype goes live.
October/November 2017: Preparation for crowd sale. Communications and marketing activities. Bringing on advisors and team members.
December 2017: Pre-Sale preparations.
Q1 2018: The Alpha-version of Photochain’s DApp is finished. The main sale event for the ICO occurs.
Q2 2018: Photochain’s DApp Version 1.0 is launched on the Ethereum Mainnet. PHT tokens are placed on cryptocurrency exchanges.
Q3 2018: Improvement to the Photochain ecosystem.
Photochain has already had success at raising awareness around its platform. It is one of the highly anticipated blockchain projects of 2018. Photochain has a 4.5/5 rating on ICOBench (https://icobench.com/ico/photochain), with team members Stanislav Stolberg and Jakub Stefanski both passing the site’s ICO KYC. It isn’t hard to see Photochain’s potential. Photographers have gotten the short end of the stick on centralized systems run by middle-men. They’ve had less control over their content and even less control over their pay over the pay several years. Photochain’s platform can change all of that, and give photographers back the control over their content that they deserve.
Website link: https://photochain.io/
Whitepaper link: https://docs.google.com/document/d/1C4UPA9-9o2cOLJOEYMIVwN_Fi3Ebtn2YcRua58hQ7_0/edit
***Written by: Marcusthewriter (https://bitcointalk.org/index.php?action=profile;u=1803140)