In a world where fake news and plagiarism has been proliferating, it seemed like creatives were in a bad position to have control over their work.
In an unusual application of the blockchain, Po.et has made a platform to give back control to creators.
Po.et is an open source platform found on the Bitcoin blockchain that shares an open, universal ledger that records ownership metadata on a hash. They are hoping to build a globally-verifiable record of digital media assets that will enable content creators, publishers and editors a way to manage their intellectual property.
What does this mean?
It means that there will be a hash on the blockchain that contains all the meta data for a particular work, ie articles, e-books, digital images, digital videos. Using Proof of Existence, the data can reveal any edits or uses of the original file.
Now, when it comes to licensing or attributions of a certain work, there is a centralized place to find all the information needed to use that digital content. Albeit in a decentralized blockchain. This helps the content to be discoverable and the creator to get the credit or compensation they deserve.
It is already being used by Bitcoin Magazine, in fact.
How To Buy POE
So you’re interested in buying POE? Currently, there is no way to buy POE directly with fiat, so the best way to buy POE is to first purchase Ethereum, transfer it to your chosen trading platform and change it to POE. We’ll show you how.
2. Once your account has been created and confirmed, log into your Binance account. Once you have logged into the account, go to the menu, click on the funds section and then deposit on the drop down bar.
3. Once you’re on the Deposit section, click the drop down menu labeled “Select Deposit Coin” and look for Ethereum, or type ETH and select.
4. This is your Ethereum Deposit Address, we have chosen Ethereum instead of Bitcoin due to the lower fees and transfer times. Next we’re going to look at buying Ethereum and depositing it into your Binance account.
1. First change the Buy option from BTC to ETH for USD and then choose your amount.
2. When you have chosen the amount of Ethereum you want to purchase (A minimum of 0.05 ETH is required), you will need to register and confirm your CEX account and payment details.
Once that has been confirmed and the ETH has been deposited into your account, we will then need to move it over to Binance.
3. Select the Withdraw option at the top of the site and select Ethereum as your currency. You will then be given a field, where you will add a wallet. This is where you can transfer your money to Binance.
4. Go back to your Binance Account and copy the alpha numeric code under your Ethereum Deposit section and paste it into your Ethereum Withdrawal section on CEX.io. Confirm that this address is correct and press “Withdraw“.
Your Binance account will now be credited with Ethereum.
2. On the trading platform, select the ETH section and use the search function to search for POE/ETH and confirm.
3. On the POE/ETH trading section you can now choose how much POE you want to buy with your Ether. Once you have chosen your amount, press Buy POE and place your order.
Once your order has been fulfilled, your account will be credited. Congratulations you’re now the proud owner of POE.
How does Po.et work?
By using the Proof of Existence protocol, content creators can set clear licensing fees and accept payment directly within the platform. Publishers can then work together with the creators of the digital asset and create licensed links from within their websites. This allows publishers to tap into new revenue streams made possible by proper attribution and time-licensing terms.
Po.et integrated a standardized metadata schema for creative works to be cryptographically added to the ledger for all of this to happen.
The native token is called POE and is used on the platform to validate license payments and process payments on the ledger.
What are the benefits of using Po.et?
As I mentioned in the introduction, this is the ideal way for content creators to take back control of their work. All without any central authority or server that can be slow moving or hackable.
Po.et has made a frictionless system to content creators to license their works, publishers to gain another advertising venue and editors to archive and monetize collections.
Besides how much profit there is to make through such a system, there is also a cost savings benefit.
A company that finds its intellectual property stolen will save on lawyer and court fees since the timestamp can be used in a court challenge. With Proof of Existence there is irrefutable evidence as to who the original rights holder was and it can’t be manipulated. This is already being instituted with states like Vermont allowing for blockchain-registered digital records to be admissible in court.
Po.et has managed to find yet another way for the blockchain to add value to society.