Po.et — ICO Review

IN A NUTSHELL

• Po.et is a shared, open, universal ledger designed to record metadata and ownership information for digital creative assets. Utilizing blockchain architecture and timestamped metadata for attribution and licensing, Po.et aims to create a globally-verifiable record of digital media assets, along with a standard, extensible metadata format which would make it easy for smart media applications to access and license these assets.
• Proof of Existence allows users to anonymously and securely store a cryptographic digest of a file linked to the time at which the user submitted the file, utilizing the Bitcoin blockchain to ensure that the file’s hash is permanently stored in an immutable data structure without the need for a central timestamping authority.
• The first features integrated into Po.et include a standardized metadata schema for creative works, and an accurate log of the edits made to an asset along with an identity management system. Assets registered in the Po.et ledger can receive an authentication badge linked to their metadata and information.
• Po.et extends the timestamping and hashing features pioneered by Proof of Existence to enable new commercial applications by including additional metadata and discoverability. Po.et’s platform allows users to generate immutable ownership certificates of digital works, track and license assets on the web, discover new assets, and verify the authenticity of discovered assets.

Po.et is a shared, open, universal ledger designed to record metadata and ownership information for digital creative assets. Po.et’s core objective is to simplify the processes of publishing, licensing, and authentication of digital assets. Utilizing blockchain architecture and timestamped metadata for attribution and licensing, Po.et aims to create a globally-verifiable record of digital media assets, along with a standard, extensible metadata format which would make it easy for smart media applications to access and license these assets.

Digital content today usually lacks sufficient metadata information (such as authorship, ownership, history, or even the date of creation), and the metadata that does exist can be altered or removed when the data itself is transferred or resized. This inherent lack of verifiable information breeds uncertainty, especially when complex chains of licensing, syndication and ownership are involved. Media marketplaces (like Shutterstock for photos) address this problem by creating centralized hubs for licensing and ownership information, but they are not interoperable with other applications and websites. Po.et intends to leverage blockchain technology and smart contract functionality to solve this issue, thereby facilitating the distribution of digital creative works and removing marketplace friction for publishers, editors and content creators.

Proof of Existence is a non-financial blockchain application created in 2013 by Manuel Araoz and EstebanOrdano, Po.et’s technical architect. This blockchain application allows users to anonymously and securely store a cryptographic digest of a file linked to the time at which the user submitted the file, utilizing the Bitcoin blockchain to ensure that the file’s hash is permanently stored in an immutable data structure without the need for a central timestamping authority. Essentially, Proof of Existence enables a user to publicly prove their possession of a particular set of data at a given time, without revealing the data or their identity, in a completely trustless manner. This provides strong evidence in support of copyright or patent claims, and facilitates verification of a given digital asset’s integrity. The whitepaper lists various changes showing the growing legal admissibility of smart contracts and blockchain records, and explains that it was a group at Bitcoin Magazine (BTC Media) who engaged Esteban Ordano and a team of developers to build a project extending Proof of Existence to new commercial applications.   

Po.et extends the timestamping and hashing features pioneered by Proof of Existence to enable new commercial applications by including additional metadata and discoverability. Po.et’s platform allows users to generate immutable ownership certificates of digital works, track and license assets on the web, discover new assets, and verify the authenticity of discovered assets. Po.et will enable anyone to discover more information about a given digital asset: who owns it, whether it can be licensed or repurposed, and its origin or publishing trajectory. Po.et will augment existing content repositories (such as Getty Images, Creative Commons or other licensing organizations) by creating a shared, open, universal, metadata framework that will form a basis for smart media applications. This will also facilitate the building of new and disruptive decentralized applications (DApps) and unique media integrations including asset marketplaces, rights management applications, and open research marketplaces.

Po.et’s first development era, called Rosetta, is designed to attract digital publishers by providing them with a useful and inexpensive platform for timestamping and generating immutable ownership certificates for their digital assets. The next era, called Gutenberg, will provide additional features to facilitate seamless licensing, syndication, and attribution of digital assets among a network of publishers and trusted content creators. Once a strong network has been created, the project will move on to its third era, called Alexandria, in which it will encompass an open network and marketplace of independent content creators, editors and publishers.

Po.et’s first stage (Rosetta) is designed to be useful for any publisher, by making trusted timestamps free, accessible, and with improved utility. The first feature integrated into Po.et is a standardized metadata schema for creative works, which enhances internal discoverability by creating a digital asset catalog and facilitating the search of a publisher’s timestamped assets. The associated metadata includes original URL, word count, author and publication, as well as any custom attributes chosen by the publishers. Po.et also provides an accurate log of the edits made to an asset along with an identity management system. Assets registered in the Po.et ledger can receive an authentication badge linked to their metadata and information. Bitcoin Magazine, a Po.et Alpha Partner, currently uses timestamping and badge authentication to improve the internal discoverability of its assets and to provide readers with proof of ownership and authenticity.

Po.et’s second stage (Gutenberg) is designed to form a distributed network of publishers, editors, and trusted content creators: publishers will be able to purchase, distribute and claim content with confidence; editors will have access to a growing asset library with transparent licensing parameters; and content creators will receive exposure. The first features implemented in stage two will be a streamlined licensing system, payment channels, and immutable portfolios. Anyone using the Po.et network will be able to search, access titles, and license assets registered on the Po.et ledger. Users will be able to define contracts and individual terms of use, choose from pre-existing licenses or create custom parameters, automate micro-payments, and transfer or issue licenses. At this stage, Po.et will enable an asset marketplace with native discoverability, search, and financial exchange, where content is submitted by creators and discovered by publishers and editors, and where transactions are performed directly on the platform using smart contracts to automate payments and verification.

The third stage (Alexandria) is where Po.et can reach its potential as an open, public network and asset database, and where it can grow into a user- and developer- friendly platform designed to streamline the process for contracting, creating, and licensing creative works. With the help of early network participants, Po.et will research and develop reputation systems, economic incentives, and other methods for fighting spam and promoting quality assets on the open Po.et network. Po.et’s documentation, APIs, plugins, tutorials and educational resources will make it easy for companies, applications and services to be built on top of the Po.et platform and benefit from access to Po.et’s network and features.

Po.et has previously raised $1 million from media veterans, institutional investors, and blockchain entrepreneurs in a token pre-sale, and is now aiming to raise an additional $9 million. POE tokens represent a share of revenue generated from commercial activities on the Po.et network. Of the 3,141,592,653 POE tokens released, 50% will be distributed to the community. Of the remaining POE tokens, 10% will be distributed to the early investors who funded Po.et development prior to the token sale. An additional 10% will be distributed over time to publishers, journalists, partners, and others who contribute to growing the network. The Po.et Foundation will retain 22% of all POE tokens for long-term development, with the remaining 8% going to the early team and founders.

Po.et Core Team:

• Lautaro Dragan, Technical Lead – A software developer specializing in APIs and web apps, Dragan has nearly 10 years of experience as a full-stack developer working for software companies like OLX (LetGo) and Globant and as an independent professional developing tailored solutions for local businesses. In his free time, he’s a game development enthusiast.
• Konstantin Richter, Business Development – A serial entrepreneur in the SaaS media space (audiotube, lookbooks, wiredrive), Konstantin is an advisor to leading blockchain companies like Gem and MadHive. He is the co-chair of the advertising consortium adledger.org and CEO of Blockdaemon.
• Pat Riley, Head of Product – A self-taught designer who has been building products on top of Bitcoin for three years, Riley has a background in street art, brand strategy and sustainable development. He has worked for companies like Apple, BitPay and, most recently, BTC Media.
• Max Bronstein, Media & Strategy Lead – A product geek and digital strategist, Bronstein has been actively involved in the Bitcoin space since he first learned about the technology. He was previously a product management intern at Gem and, more recently, led strategic marketing initiatives at BTC Media. He also created The Coin Toss, a publication covering the emerging blockchain asset space.
• Jeremy Kandah, Chief Coin Officer – A serial entrepreneur, Kandah’s first startup was Flurry, the world’s largest mobile analytics company which later sold to Yahoo. He founded Appcasher, LLC, a mobile advertising platform and the DApps Fund. He has raised a $10 million Bitcoin venture fund and assisted in establishing several ICOs, including Maidsafe, which set records by raising $6.4 million within two hours.
• Jill Richmond, Marketing & Communications – A strategy consultant and thought leader on emerging technology, working with new leaders in some of the most advanced technologies coming to market, among them blockchain, artificial intelligence and digital platforms. She is the Founder of Moonshots Media Consulting and a technology writer for Forbes.
• Álvaro Crespo (?), Mobile Developer – A software engineer who graduated from Instituto Tecnológico de Buenos Aires, where he now teaches courses in discrete math and full-stack web applications, Crespo has specialized in native mobile app development for both Android and iOS.
• Justin Litchfield, Product Development – A Stanford Ph.D. chemist by education and an entrepreneur by profession, Justin has been building exceptional engineering organizations in the media, blockchain, and FinTech spaces for the last 5 years. He geeks out about technology, health, and the pushing the limits of human performance.
• Patricio Mosse, Full Stack Developer – Patricio is a software engineer with 12+ years of experience. He has completed a BS in Computer Science in the University of Buenos Aires and has experience working and studying in international environments such as United States, Israel, France and Greece.

The Po.et Foundation Board of Directors

• Bo Shen, Managing Partner of Fenbushi Capital
• David Bailey, CEO at BTC Media (and founder of The Po.et Foundation)
• Tyler Evans, CTO of BTC Media.

Backers

Anthony Diiorio (Ethereum, Jaxx), Richard Titus (Razorfish, BBC, Samsung), Steven Dakh (Ethereum, Smartwallet), Esteban Ordano (Proof of Existence, Streamium, Decentraland), Jeremy Gardner (Augur, Blockchain Education Network), James Heckman (Maven, Yahoo, MySpace), Greg Clayman (Viacom, Fox, Vimeo), Jeff Garzik (Bloq), Adam Levine (Let’s Talk Bitcoin, Tokenly), Matthew Roszak (Bloq, Tally Capital), James Gong (ChainB), Adam Helfgott (Madhive), David Lee (Block Assets), Simon Dixon (BnkToTheFuture).

Crowdsale Details

Project Highlights

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