The meshing too social media direct maintain unleashed unprecedented access to information. The fourth dimension betwixt content creation too widespread publication has instruct vanishingly small. Along amongst this ease of access too sharing, however, comes a lack of command over one’s ain content. With a few clicks, content tin live republished without reference to its master copy source, thereby obscuring who the authentic possessor is.
What the meshing has lacked upwardly to this cry for is a network-based log of ownership that tin proceed measurement amongst the commutation of information. Enter blockchain technology. While the root too currently almost prominent application of this engineering scientific discipline is an internet-based payment system, this volition over fourth dimension bear witness to live but ane of many purpose cases.
One of the earliest non-financial applications of blockchain engineering scientific discipline was a service called “Proof of Existence.” The service embeds a hash of a document into a block inwards the Bitcoin blockchain. Influenza A virus subtype H5N1 user tin purpose this embedded hash to bear witness that the document existed at the block tiptop containing the hash without relying on a trusted 3rd party, creating a decentralized timestamping service.
Po.et is a blockchain protocol that aims to expand on the concept of Proof of Existence to instruct a transformative tool for the publishing industry. In its early on development, Po.et volition live a platform on which written content tin live timestamped using the Bitcoin blockchain too live discoverable along amongst of import metadata. Eventually, Po.et aspires to practise a fully decentralized marketplace inwards which publishers, editors too content creators tin interact amongst buy too licensing agreements without the frictions that be today.
The Inspiration
Max Bronstein, media too strategy Pb for Po.et, said that the projection was born out of about challenges faced at Bitcoin Magazine. He stated that Po.et was designed to aid answer “questions of ownership or attribution on the web,” including “who owns the work, who created it too whether or non the usage of the function is authorized.”
According to Bronstein, these questions are currently hard to answer for many works, too the organizations that contend ownership too licensing information similar Getty Images too Creative Commons oftentimes be inwards silos without interoperability amongst other platforms.
Richard Titus, an entrepreneur who formerly helped Pb digital content at BBC too the Daily Mail, joined the Po.et advisory board inwards July. He said, “Preserving an ecosystem of content creators, publishers too advertisers requires the institution of ownership too Po.et is at the correct phase of evolution to convey a truthful marketplace into existence.”
The Roadmap
The Po.et evolution squad has divided their milestone iterations into 3 “eras”: Rosetta, Gutenberg too Alexandria.
“The Rosetta era represents Po.et’s potential to enable novel understanding of written works, their authenticity, provenance too edit history through blockchain-based timestamping,” said Bronstein. The root era has already begun offering these timestamping services to publishers of written content. The document, along amongst standardized metadata, is stored on the BitTorrent network hence that it tin live discovered past times whatever political party interested inwards knowing its origins too authorized uses.
The minute stage, the Gutenberg era, is projected to laid about inwards Apr 2018. During this stage, Po.et intends to expand its platform to include custom licensing agreements for registered assets, revenue sharing too a written content marketplace. Payment channels volition live utilized at this phase to enable inexpensive too instant micropayments for the agreements amongst a broad array of to a greater extent than than twoscore publishers. One key application of these features may live an e-book metadata format that tin serve every bit an choice to the electrical current costly criterion for creating discoverable metadata for books: the ISBN system.
The 3rd too lastly era, Alexandria, is slated to laid about inwards July 2019. “The Alexandria era is when nosotros hold back Po.et to accomplish scale too instruct the root universal ledger for all types of digital assets, but every bit Alexandria was the abode of the root basis library too greatest repository of all human knowledge,” said Bronstein.
This phase volition run into the expansion of the Po.et platform beyond written content to include image, video too well assets. Furthermore, Po.et hopes to innovate inwards this phase a fully decentralized marketplace opened upwardly to all stakeholders amongst a reputation scheme to promote honest purpose of the network. In this stage, developers volition live able to write too deploy smart contracts that interact amongst this opened upwardly marketplace. One major purpose representative of Alexandria could live brand licensing, an manufacture estimated to amount over $250 billion inwards sales annually. The simplified procedure of verifying authenticity too negotiating price amongst Po.et could opened upwardly this marketplace to smaller players.
The Early Adopters
Bitcoin Magazine was the root to integrate the Po.et document timestamp into its platform — you lot tin uncovering a Po.et authentication badge at the move past times of this page. Other major digital media publishers inwards the blockchain infinite direct maintain signed on every bit alpha partners, including The Merkle, Crypto Insider, CoinSpeaker too ChainB.
Po.et has also forged a unique partnership amongst the LTB Network through which owners of the LTB Network’s LTBCOIN tin swap their tokens for upwardly to a amount of 1 per centum of the amount Po.et tokens available.
Adam Levine, founder of the LTB Network, stated that “Po.et is an elegant solution to ane of the biggest existent basis publishing problems. At the LTB Network, we’re excited to instruct ane of the root fully integrated publishing platforms which volition permit all written content to live published through too easily re-licensable amongst the Po.et project.”
Funding Po.et
Thus far, Po.et has secured fiscal investments from BTC Inc. too several blockchain notables, including Fenbushi Capital, led past times Bo Shen, Feng Xiao too Vitalik Buterin; Simon Dixon too BnkToTheFuture; Michael Cao of block.one; too Matthew Roszak too Anthony Di Iorio.
Po.et volition also live funded past times a token sale taking house on August 8, 2017. At that time, fifty per centum of the amount provide volition live sold off for bitcoin or ether.
POE tokens stand upwardly for a proportional stake inwards the fees generated over the Po.et platform. While these fees are currently subsidized past times the Po.et Foundation during the Rosetta era, they volition eventually live generated past times processing license payments too creating content licenses too hence collected past times the Po.et Foundation inwards futurity eras.
Disclaimer: Bitcoin Magazine is an alpha partner of Po.et. BTC Inc., the raise society of Bitcoin Magazine, is an investor inwards Po.et.
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