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Last Update
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:
P2P Marketplace
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.
Easy Onboarding
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.
Crypto Economy
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.
A verification period of less than 10 minutes. Also without the hassle and legal agreements that existing players in the industry expect from you, which can take up to 2 weeks to verify. You can set your own pricing within the platform for your own works. You know the value of your work, why should you let anyone else decide this. Copyright protection via our digital copyright chain. Blockchain allows tracking of digital ownership so that all unauthorized use of your photos is immediately detected. We have innovated in each step of the stockphotography sales chain. The restrictions that incumbents place on their photographers causes many photographers to not want to use them. By creating a seemless and fair platform for trading photography we ensure photographers of all types (beginner, hobby, amateur and professional) can earn a fair income for their works.For more details about our Business Case and the technology behind our platform, please read our whitepaper.
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
Verified 100%
Verified 85%
Attention. There is a risk that unverified members are not actually members of the team
PHOTOCHAIN
Photochain provides an opportunity for artists to come up with their own terms and sell their
photos straight to their customers. It is a decentralized system that uses Smart Contracts
centered on Ethereum block chain to ensure the security of exchanges on the platform. The
integration of block chain into the platform eliminates a centralized authority, an issue that
characterizes traditional stock photography platforms.
PROS
1. Artists are charged extremely low fees; a mere 5 % of the selling price. With 95% of the
amount, 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 the
entire industry vibrant.
4. Artists will strengthen their copyright using Photochain Digital Copyright Chain. All their
works are tired of their name and the same will be visible to all users assuring artist’s ownership
of the images.
5. Processes on the platform are reduced to a bare minimum so as to guarantee simplicity
and 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 a
moderator (and hence resolving an infringement claim on the platform).
7. The platform incorporates a reliable and high-tech system for blocking inappropriate and
pornographic content thus protecting consumers from offensive content.
8. Photochain Buyer Module utilizes Computer Vision Algorithm thus making images
searchable using a broad range of criteria. Buyers, therefore, have an easy time searching for
content.
CONS
1. The platform is only oriented towards photography. Contributors who create various
contents will have to use other platforms alongside Photochain.
2. It does not incorporate affiliate program that would otherwise market the platform a
larger 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.
SUGGESTION
1. Introduce programs that will be used by other related platforms so as to reach out to
other users.
2. Diversify to other types of arts to allow multitalented artists to use the platform for all
their works.
3. For fairness, the platform should give persons accused of infringement claims an
opportunity 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.
