Photochain DApp (PHTs)

Photochain is a new decentralized application under Ethereum blockchain. It aims to solve the current problems of artist such as photographers and designers especially the amateur ones to gain more supports and buyers to their digital works. More problems for the artists include the fact that it’s not possible to set his own pricing, long waiting times for verification of the content, a large number of rejections of the work by the photo stocks platforms, as well as long time intervals between the payments. Photochain would like to give the right recognitions and payments to these artists that they deserve.

Credits to: https://www.youtube.com/channel/UC0i9_siTpwWhgZnjznA2tjg

By the power of using the most wonderful technnoloy on this era the smart contracts base on Ethereum Blockchain , photochain creates a platfrom where artist can sell their works to the buyers wher they the seller can receive the payment base on his own pricing and the buyer receives the purchases at the same time. This platform works autonomously, securely and efficiently based on predefined rules. The works, like photography of the artist, will be much more cheaper on this platform and buyer will have many choices to look for depending on their budget. Photochain will only have a flat 5% fee per transaction on this Platform. It is secure and decentralised storage on IPFS and with a protocol of Digital Copyright Chain.

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.

Photochain’s Ecosystem

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. The payment process is kept simple. After selecting the works of interest to them, the buyer is prompted to reward the sum in PHT

Major Incidents
In case a major incident does occur, the Photochain Governance Team has the ability to stop all Photochain network activities until a solution is found. The Ethereum wallets of Photochain users will remain unaffected. This means that PHT Token can continue to be traded.

PHOTON Token Mechanics

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Photochain Main Sale
Photochain Crowdsale is an important milestone for the future of the project. The financing will mainly be needed to expand the Photochain Governance Team and the delivering the 1.0 version of the Photochain DApp.

Start date: 06.04.2018 at 8:00 am CET

End date: 15.05.2018 at 12:00 am CET

Maximum Amount of PHOTON Token: 230,000,000
PHOTON Token overall ICO Hard Cap (for sale): 170,000,000
Currency accepted: ETH, BTC
The exchange rate is 1 PHT = 0.00017 ETH (accordingly in other cryptocurrency assets, time based discounts should be taken into consideration).

Minimum transaction: (0.1 ETH and corresponding value in BTC)

Minimum transaction: (1000 ETH and corresponding value in BTC)

Only sold and allocated tokens are minted (no need to burn unsold tokens)

Time based discounts for the PHT tokens price during the Main Sale Event:

Day 1 to 2: -30% discount => 1 PHT = ETH 0.000119

Day 3 to 15: -20% discount => 1 PHT = ETH 0.000136

Day 16 to 30: -10% discount => 1 PHT = ETH 0.000153

Day 31 to 45: -5% discount => 1 PHT = ETH 0.000162

Day 46 to 61: 0% discount => 1 PHT = ETH 0.00017

Financing the Photochain Project

Revenue Projections
After successful crowdfunding, the development of the Photochain DApp will be provided by an operational company Photochain OÜ. Different models of transaction fees will be created, mainly depending on the infrastructure usage. The current draft of the fees is following: