The stock photography revolution
Photochain uses blockchain technology to reinvent photostocks around the buyers and the sellers
The next generation of photostocks that returns the control and the trust of the photography marketplace to the content producer.
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.
The development of the Photochain platform is an ambitious and organically growing process. Our main aims for the project come under three significant prongs:
• P2P Marketplace
It is very important to us that only the artist themselves can determine the value of their work and that they are given the opportunity to offer their work to lots of potential buyers. Our platform provides this opportunity which is realised using synergies from Blockchain technology and machine learning.
• Crypto Economy
The platform Photochain appeals to a broad audience that currently still aren’t adopters of blockchain and cryptocurrency technologies. The relatable use case of “Photochain” will appeal to this audience. The easy-to-use GUI and trading processes facilitate the onboarding process and supports the Crypto Economy to become mainstream.
• Photochain Digital Copyright Chain: DCC
Over the course of the project, more and more artists will be able to strengthen their copyright using the Photochain platform, since their works will be linked to their name. This link is manifested as a transaction in the Ethereum blockchain and is therefore visible to all users at all times. This means that the artist’s ownership of the image can be accounted for. The database with all manifested links has been constructed in a decentralised way. We call this database a DCC.
Market Opportunities for Photochain
According to information from a well-known photography stock, its turnover in 2016 has been estimated at $756 million. There are a total of 1.7 million active buyers and 100,000 artists on this platform. These figures could increase significantly for 2017.
These key figures demonstrate the vast potential of this market. Moreover, allowing artists to receive up to 95% of the profit margin significantly increases the Photochain p2p platform’s potential for adoption and standard use.
With all currently existing stock photography platforms, the only way that security in transactions can be ensured is via central control. Compared to that, we are creating a platform that works autonomously, securely and efficiently based on predefined rules.
We are developing the Photochain DApp  on the Ethereum blockchain. Additionally, Photochain also uses computer vision (machine learning) to fulfil the specific technological requirements of stock photography.
The Photochain DApp is a platform on which artists have the opportunity to sell their work to a broad audience at a price they set themselves, and where sellers are also fully and solely liable for the works they sell themselves. The Photochain Team does not have any liability or responsibility for illegal behaviour from the sellers. This means that the artist is responsible for the legality of the works he is selling, and is held fully accountable for any illegal activity. Photochain however, will uphold users copyright protection, by preventing unauthorised sale of photography.
The Photochain DApp is a platform specialized in the trade of stock photography, in which processes are reduced to a necessary minimum in order to guarantee simplicity and transparency.
Photochain Token ( Photon)
PHOTON token is the means of rewarding used across the Photochain Ecosystem. Any type of transaction on the platform will require the use of PHOTON Tokens.
The PHT token is based on the following core properties:
• Name: PHOTON Token (PHT)
• Standard: Ethereum ERC20
• Hard Cap: 230,000,000 PHT token to be issued
• Release date: Our Token Generation Event will take place right after the end of the Main Sale Event. It may take up to 60 days to distribute the PHOTON tokens to contributors.
• Represented value: tokenization of photography services.
11% Team & Management
7% Bounties and Partners
3% Legal & Advisory
Use of Proceeds
30% IT Development
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
- April 2017 Idea
Idea, business case and market research
- June 2017Project evaluation
Development of the DApp prototype
- September 2017Strategy & Design
Go-Live of the DApp prototype
- October-November 2017Preparation for crowdsale
Communication and marketing activities
Commitment of the Blockchain Community
Commitment of the photography community
- Legal form
Advisers and new team members
December 2017Pre-Sale preparations
Private Pre-Sale at special discounts for eraly supporters
- January 2018Private Pre-Sale preparations
Private Pre-Sale at special discounts for early supporters
Enhanced documentation and planning
New team members
- February 2018Transition
Preparation for Main Sale Event
Compliance and regulations
Developing a more comprehensive Photochain DAPP version
- Q1 2018Main Sale event (ICO)
Publishing of new collaboration partners
Regulatory compliance for our Main Sale Event
- Q2 2018Operation
Photochain DApp Version 1.0 on the Ethereum
- Trading of the PHT Tokens at Crypto Exchanges
Q3 2018Continual improvement
Photochain DApp as standalone client on all common operating systems
- Stanislav Stolberg – Co-Founder, CEO
- Arthur Ishmetev – Blockchain Developer
- Haris Rana – CMO
- Ralf Gerteis – Business Development
- Jakub Stefański – CTO
- Dr. Jeannette Heinert – Communications
- Alexander Sverdlov – Security Adviser
- Brian Colwell – Blockchain Evangelist
- Dylan Sharkey – Blockchain Evangelist
- Samuel Manzanera – Technology and Software Architecture Analyst
- Peter Lai – Blockchain Developer
- Sven Moeller – ICO Strategy Adviser
- Paulo Renato Dallagnol – Legal Adviser
- Charles Becquet – Strategy
- Chang Liu – Assoc. Prof. at Ohio University
- Alex Fedosseev – Adviser
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