Connect with us

Blogs

Cryptocurrency is paving new avenues for content creators to explore

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

 

Until you take the plunge and start to produce regular content which is displayed on the web for the world to read, you struggle to comprehend how much work goes into the formatting aspect of your piece. The images used form an integral part of your story which aims paints a picture in the mind of the reader, which lures them deeper into the content. We have to delve into the world of stock photography to find the perfect image and to make ensure that we also have a license to re-use someone else’s property.

This is where there is currently a huge grey area in the stock photography industry. Two giants (Shutterstock & Getty Images) currently dominate the sector and because their grip on the industry is so tight, they can claim 85% of the fee paid for an image. Which leaves the photographer, the creator of the asset, with just 15% of the fee for their hard work. An unfair method of distribution where essentially the intermediary is taking the Lion’s share of the profit.

Wemark is building a blockchain based content ecosystem which eliminates intermediaries and puts the control of the content back into the hands of the people that created it. Allowing photographers to retain the rights they have over their property and also most of the profit received for it.

The injection of blockchain technology allows for a seamless transition between parties. The owner defines all the details of the content sale and the platform integrate it to a smart contract. When a purchase is made, a smart contract is triggered and the payment is processed. This delivers the specified funds to the content creator and simultaneously delivers the content and the applicable rights for the content to the buyer. The purchase is recorded onto the Ethereum blockchain and is set as indisputable evidence for all parties to see. The blockchain is essentially removing all possibility for potential transaction disagreements. The autonomous protocol processes payments, issues and registers specific licenses on the blockchain and then provides access to the content for the customer.

The Wemark platform is initially targeting the stock photograph sector but they are setting their sights on transforming content distribution industry across all applicable avenues. The initial platform designed specifically for photographers was launched a few weeks ago and has seen an overwhelming initial response from the community. Thousands of photographers have already signed up and submitted over 40,000 photos, which includes many of the best content providers who produce regular content on today’s major platforms. This allows photographers to establish and maintain their rights and ultimately make more revenue, doing what they love.

To avoid the one-sided ethos which has been a part of the industry for some time, the creators that use Wemark are also stakeholders of the platform. This means that they get paid in Wemark’s native cryptocurrency (WMK) and the value of their earnings within the platform may increase or decrease according to the growth and development of the platform.

The Wemark team has an impressive wealth of knowledge spanning throughout the industry. They also have what can only be described as an army of advisors by their side, heralding from many of the major players within the sector. Key names to note within the Wemark advisory board are Michael C. Lesser, who built and led the legal department at Shutterstock. Lars Perkins, who is the founder and former CEO of Picasa and also Keren Sachs, a former director of content development at Shutterstock. A plethora of industry leaders and VC’s have jumped on board the project to revolutionize a sector which is crying out for a shake-up. Which has been further aided by top VC’s in Israel, New York, and Silicon Valley. Definitely a project to bookmark.

Wemark have scheduled a token sale for the WMK token

When – The token sale will begin on June 7th, 2018 and is scheduled to end June 21st, 2018

Token – WMK

Price – $0.20

Supply – A total supply of 135 million tokens will be created, with a maximum number of 51 million (38%) tokens to be sold

Platform – Ethereum

Accepting – ETH

Hardcap – $8 million USD

A link to request the Wemark whitepaper

Where to participate in the Wemark ICO

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Dark Dwarf via Flickr

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

Continue Reading

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

Continue Reading

Elite