Aug 13, 2018
Photochain is a blockchain based, peer-to-peer platform for stock photography. Using blockchain technology, Photochain returns the control over licensing, copyright, and trading back to photographers. Mediated by Smart Contracts, Photochain enables a fairer, more efficient, and secure transaction directly between artists and buyers.
Photochain is created around 4 key pillars:
We want buyers and sellers determine their own terms of sale, so we allow them to trade directly with one another. Using blockchain to remove the need for costly processing, we guarantee photographers to receive 95% of the earnings from their works.
A simple identity verification for all photographers. Unlike with traditional photostocks which require lots of prerequisites, a user can be actively selling work in minutes. The removal of prerequisites further allows the platform to be fully accessible and profitable to hobby, amateur and professional photographers alike.
Digital Copyright Chain
Our decentralized database ensures each uploaded photo is hashed into the blockchain and permanently linked to its owner. This link cannot be changed removed or manipulated in any way. Any further uploaded image is also hashed and compared to the existing DCC for copyright fraud. Additionally due to the permanent link, any misuse of the image outside of paid licenses is easily detectable.
We are helping to build a crypto economy, where we have more control over our data. A fairer economy where you are rewarded for your work. We believe photographers deserve fair compensation for their efforts and their creativity.
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.
For more details about our Business Case and the technology behind our platform, please read our whitepaper.
We guarantee 95% of the revenue for each work sold goes to the rightful owner of the work. The photographer does all the hard work, so why should we take the income.
We will payout sellers of photographer in maximum of 10 seconds. This compares very favourably to existing stock photography platforms that can take up to 1 month to process payments.
Photochain DApp Requirements
These are the design requirements for the Photochain DApp. The requirements result from current issues with microstock photography.
Photochain DApp Architeture
The listed requirements can be realized technically through the DApp on a Blockchain basis. The correct executions of the transactions, as well as the platform’s rules, are realized through the use of Smart Contracts. Requirements 4 and 5 will be realized using computer vision and machine learning algorithms.
Here, we will rely on the Ethereum blockchain when it comes to Photochain, as we are impressed by the platform’s flexibility, reliability and its long-term success. The global support of Ethereum by the Ethereum Alliance implies wide, interdisciplinary industrial acceptance and offers the necessary proof for the platform’s long-term existence.
April 2017 - Idea
June 2017 - Project evaluation
September 2017 - Strategy & Design
October-November 2017 - Preparation for crowdsale
December 2017 - Pre-Sale preparations
January 2018 - Private Pre-Sale preparations
February 2018 - Transition
Q1 2018 - Main Sale event (ICO)
Q2 2018 - Operation
Q3 2018 - Continual improvement
$13 300 000
$58 000 000
$5 040 000
Attention. There is a risk that unverified members are not actually members of the team
$6 121 236
$37 040 000
$10 360 000
PHOTOCHAINPhotochain provides an opportunity for artists to come up with their own terms and sell theirphotos straight to their customers. It is a decentralized system that uses Smart Contractscentered on Ethereum block chain to ensure the security of exchanges on the platform. Theintegration of block chain into the platform eliminates a centralized authority, an issue thatcharacterizes traditional stock photography platforms.
PROS1. Artists are charged extremely low fees; a mere 5 % of the selling price. With 95% of theamount, the artists are able to offer photos at a cheaper price to woo more customers.2. When contributors lower prices due to low fees, customers benefit from affordable products.They can get a lot of photos for an amount they would otherwise purchase just a few.3. Increased income incentives motive more artists to venture into photography making theentire industry vibrant.4. Artists will strengthen their copyright using Photochain Digital Copyright Chain. All theirworks are tired of their name and the same will be visible to all users assuring artist’s ownershipof the images.5. Processes on the platform are reduced to a bare minimum so as to guarantee simplicityand transparency to both the consumer and the contributor.6. In addition to revenue for their photos, a contributor can get a commission by acting as amoderator (and hence resolving an infringement claim on the platform).7. The platform incorporates a reliable and high-tech system for blocking inappropriate andpornographic content thus protecting consumers from offensive content.8. Photochain Buyer Module utilizes Computer Vision Algorithm thus making imagessearchable using a broad range of criteria. Buyers, therefore, have an easy time searching forcontent.
CONS1. The platform is only oriented towards photography. Contributors who create variouscontents will have to use other platforms alongside Photochain.2. It does not incorporate affiliate program that would otherwise market the platform alarger number of users.3. When five moderators vote in favor of an accuser of copyright infringement the plaintiff’s,account is closed without an opportunity to appeal.
SUGGESTION1. Introduce programs that will be used by other related platforms so as to reach out toother users.2. Diversify to other types of arts to allow multitalented artists to use the platform for alltheir works.3. For fairness, the platform should give persons accused of infringement claims anopportunity to appeal the decision of moderators.
It's a compelling idea, and a good example of a viable blockchain usecase. Team looks well fleshed out, challenge will be to execute faster than others - as they will not be the only people trying to pull this off.
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