As a content creator myself, I always search for new technologies that not only appreciate quality content, but make sure creators are well positioned for success. On the photography front, I have traveled around the world and often considered trying to monetize photographs using one of the big stock photo websites. The reality was much less exciting. These platforms are crowded, not optimized, and do not incentivize photographers in a fair manner.
Enter Photochain. Photochain was introduced to me by a fellow content creator and I was instantly impressed by the team and platform. Photochain is using blockchain technology to eliminate many of the inefficiencies in stock photography by using smart contracts and a Digital Copyright Chain, to ensure copyright infringements are avoided.
Overall, content creators are appreciated and incentivized on Photochain’s platform, a breath of fresh air for photographers like myself. Last week, the team took home 3rd place in the ICO pitch competition at the Blockchain Leadership Summit in Zurich.
After this, I had the chance to learn more from Photochain’s CEO, Stanislav Stolberg, on how he was inspired to create Photochain and what the company has in store for 2018.
1. Tell us a little bit about yourself. How did you get started in blockchain?:
I am a physicist and so naturally I am addicted to every kind of new technology. While trying to be at the forefront of new tech, I discovered bitcoin in 2015 and the beautiful technology behind it. After going deep inside the working mechanics, I realized that blockchain has the power to replace a lot of intermediary-based processes and can create new business models, like the internet in the early 90s.
Being a visionary person, I wanted to be the part of this revolution.
2. What was your inspiration behind the project? How did it all start?
Well, I am a hobby designer in my free time. When I was student, I had a web design/design agency and used a lot of photos. I also was a content creator myself. So, one day I thought: stock photography is a very unfair market for the content creators, meaning this market is perfectly suitable to be disrupted through blockchain technology to make it a fairer place to be for content creators.
3. What is your competitive advantage?
We are the first p2p stock photography market, based on blockchain technology. We heard recently about a project initiated by big industry players. But they do not have a real working DApp demo or even a whitepaper – so I do not think that I have to explain further.
Regarding the standard industrial players, our advantages include a high remuneration for photographers (95% compared to 23% on average), licensing on the public ledger and setting of our own pricing to make it attractive for all parties involved.
4. What is the biggest problem currently in the market?
One of the major problems is the unfair remuneration of content creators by larger stock photography platforms. The solution to this problem is the core of the Photochain project.
5. What does 2018 have in store for you guys?
We have ambitious but realistic goals: in the Post-ICO phase, we want to deliver the Alpha Version of the Photochain DApp as soon as possible. Also, we will work hard to make this technology mainstream, putting the “blockchain infrastructure” into the background.