What Is Photochain?

[phuocth.tp]

What Is Photochain?

#Photochain, found online at Photochain.io, uses blockchain technology “to reinvent photostocks around the buyers and the sellers,” explains the official website.

The goal is to pay photographers more for their work than they currently earn on centralized stock photography platforms. The Photochain website claims that many popular stock photography platforms pay photographers just 23% of the final price for their work. In comparison, Photochain wants to pay photographers 95%.

Photochain also emphasizes a fast verification period and fast payment times. Plus, photographers will be able to set their own prices.

Photochain is being developed by an Estonia-based team. The token sale for the platform’s PHOTON tokens, or PHTs, will be held in April 2018.
How Does Photochain Work?

Photochain is built as a native blockchain decentralized app (dApp) on the Ethereum network. The app uses InterPlanetary File System (IPFS) to secure data across the network.


The Photochain Token Sale

#Photochain tokens, or PHOTONs or PHTs, are ERC20 tokens on the Ethereum blockchain.

There’s a hard cap of 230 million PHT tokens available to be issued. Of the total supply of tokens, 79% are allocated to token sales. The remaining tokens are reserved for the management, the team, and legal expenses (14%), advisors (4%), and bounties (3%).

The pre-sale began all the way back in January 2017.

The main token sale, meanwhile, is scheduled for April 6. The whitepaper lists the token sale as lasting just one day: from 06.04.2018 at 8am CET to 06.04.2018 at 12am CET.

I don’t fully understand what that means. Based on the listed dates and times, the token sale is scheduled to end before it begins (at midnight the day before). Hopefully Photochain will provide clarity on their token sale times. It seems unusual for a token sale to last just one day.
Who’s Behind Photochain PHT?

Photochain was co-founded by Stanislav Stolberg (CEO) and Arthur Ishmetev (CTO). Stolberg is an InfoSec consultant and “digital transformation manager” while Ishmetev is a software architect and full stack developer.

The company is based in Tallinn, Estonia.

[imanasshole]

Photochain uses blockchain technology “to reinvent photostocks around the buyers and the sellers,” explains the official website.You should note that the goal is to pay photographers more for their work than they currently earn on centralized stock photography platforms. The Photochain website claims that many popular stock photography platforms pay photographers just 23% of the final price for their work. In comparison, Photochain wants to pay photographers 95%. Photochain also emphasizes a fast verification period and fast payment times. Plus, photographers will be able to set their own prices. Photochain is being developed by an Estonia-based team. The token sale for the platform’s PHOTON tokens, or PHTs, will be held in April 2018.

[imperialGDP]

One of my favourite projects right now. Rather than putting supercomputers, AI, robotic doctors with twin lasers (insert your own silly thing here), they are putting something simple like photography on the blockchain.

Photography is something that can be easily managed by a blockchain it is still digital pictures only. I believe because of the use case, that Photochain will be able to deliver technically, rather than your crazy mad-scientist like projects of the semi-far future.

It is the perfect use case for blockchain technology - as a test bed for other projects. If they reach a good mass within their own niche, it will be a simple, yet elegant success of the technology. They are not trying to be too ambitious, more smart than that.

[ahonghai199]

In my opinion, PHOTON Token is the means of reward in the Photochain Ecosystem and represents the tokenization of digital visual works.

[imperialGDP]

(from photochain ANN)

Why our 25 million PHT deal is a significant indicator of smart money

Smart money and due diligence — why our funding deal is significant

As you may be aware, a crypto fund has recently bought into Photochain, with a purchase of 25 million PHT — 13.9% of total funds available plus an option to acquire a further 4.6% of PHT tokens.

We wanted to take the time and explain why this fund’s involvement is such a remarkable seal of approval from the professional crypto community.

[thefaucetrunner]

Management of the copyright of digital goods like photos I suspect will be the first widespread practical use for cryptocurrencies.