[ANN][ICO LIVE] 📷Photochain : Photography back in your control 📷

[imperialGDP]

At this point it's obvious blockchain has an insane amount of useful scenarios.

What do you think it is about blockchain that makes it ideal for for a stock photo platform?

I'm still interested in learning more about the teams thoughts on this.

Sorry for late reply, but thank you for the question.

So the most prominent thing about blockchain is that it allows transactions to be peer to peer. The problem with current stock photography platforms is that by uploading a photo to them, you are in fact giving your right of ownership over to them and then they have the rights to sell at their own price, decide on licensing type etc... With our p2p platform you keep the ownership of your own images, thus being able to set your own pricing and your own licensing type.

Also blockchain allows speed of payment. In many existing platforms, you are paid once per month for all the licenses sold during the month. But why? Again this comes down to you no longer having ownership, so you are in fact invoicing the stock photography platform for a royalty fee. Blockchain allows instant payments in a matter of seconds.

Blockchain also allows better copyright protection services. In current stock photography platforms, a manual team of people and compare if photos are copies of each other. However, this is time consuming and expensive. Blockchain allows each uploaded image to be analysed and compared to each other image in the decentralized database in a few moments to check for copyright infringement. A decentralized digital chain of ownership is maintained and therefore any image uploaded not by the indicated owner is immediately known.

All this improvement in services is what allows fees charged to photographers to be reduced from as much as 90% down to as little as 5%. Blockchain essentially automises, transfers data more efficiently and helps keep track of ownership much more effectively than existing systems can.

Dang I honestly didn't expect the reasoning for blockchain to be so solid as this. You've fully laid out not only why it could work, but why it's obviously an eventuality. The ownership of your product is of utmost importance.

Speaking as not Photochain, but as an individual, the reason I joined the project was that it was one of the most complete blockchain business models I had ever seen. Not something way in the future either, something for the here and now - and to disrupt an existing business that is more than ripe for decentralized disruption.

Yes very good use of blockchain. If we can't manage photography on blockchain how can we put AI and super computers on there. Photochain team has feet on the ground and not heads in the clouds

[Dreaming]

$41m is a very strong start to a project like this. If the sale were to end now, how much do you think you could get done with this amount?

With $41m and our business plan, we could blow our competitors well out the water! Unfortunately it is 41 million PHOTON tokens sold 

Oh duh, I'm an idiot. At roughly $.10 per token, $4m in the presale alone is still a very good start. If you had to end the sale now, how do you think you could fair on these funds? Could it last until company profitability?

This is tough to say. Honestly our development budget is nowhere near as extreme as other projects - even more so considering we've developed a prototype with no budget at all (this was developed only way before we started raising funds).

However, marketing ourselves around the world is where we expect a lot of our budget to go towards. Unfortunately in the modern day, you do need to do a significant amount of marketing to succeed. And marketing is not cheap!

Do you have a planned breakdown for your budget? Like 50% marketing, 20% development, etc?

[photochain]

$41m is a very strong start to a project like this. If the sale were to end now, how much do you think you could get done with this amount?

With $41m and our business plan, we could blow our competitors well out the water! Unfortunately it is 41 million PHOTON tokens sold  

Oh duh, I'm an idiot. At roughly $.10 per token, $4m in the presale alone is still a very good start. If you had to end the sale now, how do you think you could fair on these funds? Could it last until company profitability?

This is tough to say. Honestly our development budget is nowhere near as extreme as other projects - even more so considering we've developed a prototype with no budget at all (this was developed only way before we started raising funds).

However, marketing ourselves around the world is where we expect a lot of our budget to go towards. Unfortunately in the modern day, you do need to do a significant amount of marketing to succeed. And marketing is not cheap!

Do you have a planned breakdown for your budget? Like 50% marketing, 20% development, etc?

Yes, as is available on our homepage, the breakdown is:
30% Marketing
30% IT Development
8% Infrastructure
10% Copyright and Licensing
5% R&D and Platform Evolution
4% Legal, Accounting and Audit
4% Cooperations with Photo Agencies
4% Allocation to contributors
3% Business Development
2% Business Development

[joblessminer]

At this point it's obvious blockchain has an insane amount of useful scenarios.

What do you think it is about blockchain that makes it ideal for for a stock photo platform?

I'm still interested in learning more about the teams thoughts on this.

Sorry for late reply, but thank you for the question.

So the most prominent thing about blockchain is that it allows transactions to be peer to peer. The problem with current stock photography platforms is that by uploading a photo to them, you are in fact giving your right of ownership over to them and then they have the rights to sell at their own price, decide on licensing type etc... With our p2p platform you keep the ownership of your own images, thus being able to set your own pricing and your own licensing type.

Also blockchain allows speed of payment. In many existing platforms, you are paid once per month for all the licenses sold during the month. But why? Again this comes down to you no longer having ownership, so you are in fact invoicing the stock photography platform for a royalty fee. Blockchain allows instant payments in a matter of seconds.

Blockchain also allows better copyright protection services. In current stock photography platforms, a manual team of people and compare if photos are copies of each other. However, this is time consuming and expensive. Blockchain allows each uploaded image to be analysed and compared to each other image in the decentralized database in a few moments to check for copyright infringement. A decentralized digital chain of ownership is maintained and therefore any image uploaded not by the indicated owner is immediately known.

All this improvement in services is what allows fees charged to photographers to be reduced from as much as 90% down to as little as 5%. Blockchain essentially automises, transfers data more efficiently and helps keep track of ownership much more effectively than existing systems can.

Dang I honestly didn't expect the reasoning for blockchain to be so solid as this. You've fully laid out not only why it could work, but why it's obviously an eventuality. The ownership of your product is of utmost importance.

Speaking as not Photochain, but as an individual, the reason I joined the project was that it was one of the most complete blockchain business models I had ever seen. Not something way in the future either, something for the here and now - and to disrupt an existing business that is more than ripe for decentralized disruption.

Are you on the team page? May I ask which team member I'm speaking with? You seem very well informed.

[photochain]

At this point it's obvious blockchain has an insane amount of useful scenarios.

What do you think it is about blockchain that makes it ideal for for a stock photo platform?

I'm still interested in learning more about the teams thoughts on this.

Sorry for late reply, but thank you for the question.

So the most prominent thing about blockchain is that it allows transactions to be peer to peer. The problem with current stock photography platforms is that by uploading a photo to them, you are in fact giving your right of ownership over to them and then they have the rights to sell at their own price, decide on licensing type etc... With our p2p platform you keep the ownership of your own images, thus being able to set your own pricing and your own licensing type.

Also blockchain allows speed of payment. In many existing platforms, you are paid once per month for all the licenses sold during the month. But why? Again this comes down to you no longer having ownership, so you are in fact invoicing the stock photography platform for a royalty fee. Blockchain allows instant payments in a matter of seconds.

Blockchain also allows better copyright protection services. In current stock photography platforms, a manual team of people and compare if photos are copies of each other. However, this is time consuming and expensive. Blockchain allows each uploaded image to be analysed and compared to each other image in the decentralized database in a few moments to check for copyright infringement. A decentralized digital chain of ownership is maintained and therefore any image uploaded not by the indicated owner is immediately known.

All this improvement in services is what allows fees charged to photographers to be reduced from as much as 90% down to as little as 5%. Blockchain essentially automises, transfers data more efficiently and helps keep track of ownership much more effectively than existing systems can.

Dang I honestly didn't expect the reasoning for blockchain to be so solid as this. You've fully laid out not only why it could work, but why it's obviously an eventuality. The ownership of your product is of utmost importance.

Speaking as not Photochain, but as an individual, the reason I joined the project was that it was one of the most complete blockchain business models I had ever seen. Not something way in the future either, something for the here and now - and to disrupt an existing business that is more than ripe for decentralized disruption.

Are you on the team page? May I ask which team member I'm speaking with? You seem very well informed.

Yes, those messages were written by Haris

[Crypto_Man1212]

Where can we stay most up to date on Photochain?

All our most important updates are on out Medium blog (https://medium.com/photochain) or on our Subreddit (www.reddit.com/r/photochain)

Nice. I love a good active Medium blog. So much to learn.

I was wondering if there are any estimates on token value growth?

It's difficult to say. But token value growth should reflect number of transactions on the platform. In this image here https://ibb.co/nqis9S (also in Whitepaper) you can find our projected growth in transaction number on the Photochain platform over the next 5 years.

So if token value were to increase proportional to the number of users on the platform, we could expect token value to 4x by the end of 2019? Seems plausible, possibly even conservative.

[MarkThief]

Will there be any expansion to stock footage eventually? Video is getting bigger and bigger.

Video is much more difficult to manage from a copyright and licensing point of view than photography and still imagery. In our immediate plans, we will not expand to video, but perhaps in future we could reconsider - either by developing our own platform or by way of partnership / acquiring a player in the video licensing field.

But as of yet, it is difficult to manage and as far as we know there are no projects that offer full licensing with adequate management of copyright protection for video.

Thanks for the response. I'm learning a lot reading your responses. I read you guys already have a working prototype, right?

[cryptohype]

Hi , what rate of Eth are we getting in the crowdsale? it says eth=$580 , does that mean we get less tokens as eth fixed at this rate? when live eth rate is 760

[Dreaming]

$41m is a very strong start to a project like this. If the sale were to end now, how much do you think you could get done with this amount?

With $41m and our business plan, we could blow our competitors well out the water! Unfortunately it is 41 million PHOTON tokens sold  

Oh duh, I'm an idiot. At roughly $.10 per token, $4m in the presale alone is still a very good start. If you had to end the sale now, how do you think you could fair on these funds? Could it last until company profitability?

This is tough to say. Honestly our development budget is nowhere near as extreme as other projects - even more so considering we've developed a prototype with no budget at all (this was developed only way before we started raising funds).

However, marketing ourselves around the world is where we expect a lot of our budget to go towards. Unfortunately in the modern day, you do need to do a significant amount of marketing to succeed. And marketing is not cheap!

Do you have a planned breakdown for your budget? Like 50% marketing, 20% development, etc?

Yes, as is available on our homepage, the breakdown is:
30% Marketing
30% IT Development
8% Infrastructure
10% Copyright and Licensing
5% R&D and Platform Evolution
4% Legal, Accounting and Audit
4% Cooperations with Photo Agencies
4% Allocation to contributors
3% Business Development
2% Business Development

Is this subject to change? If you already have a working platform, couldn't you put 20% to it and give your marketing a 10% boost? I just know how quickly even a solid marketing budget can go.

[joblessminer]

My question is for Haris specifically if possible. I'm very interested in marketing in blockchain, I've participated in bounties, written articles for blockchain companies, etc.

I think getting intimately involved with a company by becoming a CMO like you could be my next big step. How did you meet Photochain? How early on did they bring you in? Do you have previous CMO experience?

[Crypto_Man1212]

So I saw some projected user statistics for the first few years of the platform. I'm wondering how you come up with stuff like that? It's based on previous adoption rates of platforms in the space?

[Dreaming]

How confident are you that you can follow that road-map in the allotted time frame?

[MarkThief]

I heard there's a prototype? Any way to check it out on a testnet or something?

[deeltje]

Where/when do we see the contract code for the token sale?

[Motookerva]

Are you guys actively seeking out new advisors to bring aboard?

[Crypto_Man1212]

I heard there's a prototype? Any way to check it out on a testnet or something?

Great question. I'd love to get an intimate look at the platform. Are you doing in house testing only?

[Bulltracct]

How did the last sale go? I see we're about to start a new phase.

[TheROBER]

What made you decide to use tokens?

[2l84aa]

What kind of information would you be getting from contributors? I ask because there is naturally a concern for users uploading copyright images and I'm interested to learn more about how you plan on handling such matters.

I'm not sure this was ever answered.

[HerrHeimlich]

Nice project. Will you be doing anything to prevent traders from buying these tokens only to dump them at the first exchange? The reputation of a lot of ICOs seems to suffer because of this.