PressCoin Update: The roadmap ahead

We thank you all for choosing to be part of the PressCoin community. The team has been hard at work after the ICO and here is a detailed update. This information was also emailed to our supporters, we look forward to hearing from you:

  • We believe that the world needs a truly independent news media organization. As it turned out, the syndicate of institutional token purchasers who had signed up to support the Presscoin ICO were ultimately incompatible with our strategy and philosophy. We have canceled the purchase agreement with them, which has reduced the total funds available to us.
  • The tokens that were earmarked for these institutional purchasers are now available for block deals with other investors and partners, and unsold tokens will remain locked until then. We are in discussions with a few potentials, and if you know someone we should speak with, do let us know.
  • We intend to stay on top of the evolving regulatory compliance. If you are an American token purchaser, please look out for additional communication from us.
  • Our focus now is on building out technology infrastructure that supports the overall vision of creating a tech-powered ecosystem for decentralized media. We will delay hiring full time journalists, and other personnel not critical to this tech-focused roadmap.
  • To reflect this narrower focus, we have restructured the leadership team: Nafeez Ahmed will now play the role of Chief Journalist across PressCoin, Amit Rathore on partnerships and monetization, and Abhishek Sharma will take on the role of CTO, focusing on technology and delivery. Amit Bansal will focus on sales and strategic partnerships, while also leading the NextElection platform buildout.

The overall holdings, and area of spending of PressCoin, currently looks as follows. $2.8M USD worth of NEWS tokens were transacted during the private placements, spread primarily across the following:

  • FreedomCoinX – a new crypto-exchange with a focus on news, media, and democracy related projects and tokens
  • InsightsIO – API enabled toolset for polling, communicating and engaging digital audiences
  • PressCoin Services – A quick-to-market build/integrate service that builds new-age digital media platforms for customer and partner media houses on the PressCoin framework

Retail proceeds from the public ICO were as below:

  • NEWS tokens were purchased by retail buyers during the period of the ICO, spread across 385.28 LTC, 6.74 BTC, 173.12 ETH, and $130K in USD.

 

Future: Executing a multi-pronged strategy

  • PressCoin Partnerships: 2.5 million tokens have been earmarked for investment into news media ecosystem partners. The Presscoin ecosystem, technology, and NEWS tokens allow even legacy media companies to quickly plug into the crypto-economy. Since PressCoin gives its partners complete freedom in how they choose to use the tokens, it allows them to create compelling use-cases. We are already in discussion with some media organizations who understand the competitive advantage we provide and we welcome more interested parties to explore partnership arrangements with us.
  • InsurgeIntelligence was already ahead of the recent Facebook scandal regarding user data, privacy, and elections. We even had an exclusive on the Cambridge Analytica angle, outlining how Facebook will need to be stopped in order to stop the erosion of democracy. The demand for alternate platforms for news, analysis, and intelligent discourse is skyrocketing, and makes for  excellent timing.
  • NextElection the new digital town hall for elections, politicians, journalists, and citizens is going to revolutionize political analysis, discussion, and news using a visionary marketplace model. With a completely new design overhaul, and under active development, we are excited to give you a sneak peak of what’s cooking here. We are hoping to release the first version in May 2018.
  • FreedomCoinX: Slated to start operations by June 2018, the PressCoin ecosystem will have its own crypto-exchange to enable media and democracy related token projects, and token listings. All fees on FreedomCoinX, including trading fees for the crypto exchange will be paid for in NEWS tokens. Discussions are ongoing with interested parties for ICOs and token listings.
  • PressCoin Services: PressCoin is now offering turnkey build-and-host platforms for media companies and startups that need a modern data-driven publishing system that can help them stand out in this very crowded digital world. The new digital properties would be crypto and NEWS token enabled out of the box, allowing them to be plugged into the modern crypto-economy.
  • Future roadmap: Post additional funding, PressCoin will focus on additional capabilities:
    • Crypto-enabled commenting widgets
    • Crypto-enabled micropayment widgets
    • PressCoinTV – a crypto-enabled platform for video streaming
    • PressCoinNews – a crypto-enabled platform for news aggregation
  • NEWS tokens: The tokens are listed for trading on CointypeX, where crypto <> crypto trading is available in a range of cryptocurrencies. Most exchanges are backed up given the large demand from ICO projects, and the PressCoin team is hopeful to complete listings on a couple of new other exchanges in the coming days and weeks.

Again, we thank you for your patience, and we look forward to the launch of our first couple of platforms in the near future. Creating these new platforms for focused, community-driven use-cases will benefit both the intended audience, as well as the utility of NEWS tokens. We have much work ahead, and we’re just getting started. Stay tuned for more updates from across the various initiatives in the coming days.

PressCoin Update: PressCoin Journey Begins With Meeting Of Core Team

For the past 10 days PressCoin’s global operational team has been meeting to plan the next stages of the PressCoin journey.

PressCoin team members from the US, France, India and the UK met to discuss the technical and business development roadmap for the PressCoin project.

Significant progress has been made in planning out our work program, and we hope to be able to make some exciting announcements shortly, including information on the timing and release of initial products.

Changes to the leadership team are also underway. We are close to finalising the team and expect to make an announcement on this next week.

The PressCoin Team

PressCoin Update: Building the world’s first decentralised media ecosystem

Dear PressCoin Supporters,

Thank you for your support of PressCoin. Thanks to you we closed the PressCoin ICO in the third week of January, having raised $24.8m.

We are now moving ahead, armed with a mandate from people all over the world who want to see a truly independent media ecosystem.

While our initial success is inspiring, we are conscious of the responsibility now before us. We will now be able to accelerate the adoption of our decentralised media platform ecosystem.

PressCoin will support groundbreaking investigative journalism, track political candidates and encourage participation in elections; create engaging multimedia news; and foster local and citizen-powered journalism.

We will focus for the next few months on initiatives which utilise NEWS tokens to mobilise positive action in the world. Our goal is to help move news publishing from simply commenting on the world’s challenges, towards revealing concrete pathways to real solutions, led by communities for communities.

This will not be easy. We’re the first to attempt to establish a decentralised, networked, global media ecosystem.

We are proud and humbled by this start. PressCoin is the largest ever crowd-sale funded attempt to address the news crisis. We will keep you all posted on our progress in coming weeks and months.

Before we go into our plans a little further below, some important housekeeping announcements for those of you who purchased NEWS tokens.

CHECK YOUR TOKENS – DO YOU HAVE THEM?

Some token buyers are yet to receive tokens. This could be because you still need to set up your cryptocurrency wallet (to hold your tokens), or because you have not completed KYC (a requirement for bank transfer/paypal payments only). If you are unsure about next steps, and/or haven’t yet received tokens, please make sure you get in touch with us via  support@presscoin.com.

TOKEN TRADING –EMBARGOED FOR 28 DAYS

The NEWS token has been listed on the CointypeX exchange, our partner platform. We have however restricted trading for 28 days, starting from the date of closure of the ICO. We have done this to avoid unnecessary volatility, to give the token a chance to settle in the market. After 28 days the restriction will be lifted, and you will be free to trade your NEWS tokens. Trading will begin on the 16th February 2018.

WHAT’S NEXT

It’s exciting that we’ve got this far, but our work is just beginning. The PressCoin team is busy tightening up operational and governance structures, shifting gears from ICO mode, to building mode.

In coming month we will continue the build of underlying utility infrastructure, the systems to enable partner platforms and publishers to join the PressCoin universe. PressCoin will enable all-comers to make use of NEWS tokens to fuel good journalism and community empowerment initiatives.

We have two initial focuses:

  1. core infrastructure to power the PressCoin crypto-economy, for readers, for creators, for platforms and publishers;
  2. two of our flagship platforms – INSURGE, a global intelligence platform and social action network, and NextElection, a new town hall that brings together politicians, journalists, and citizens.

Both initial platforms recognise the media’s role as watchdog in the public interest – not just speaking truth to power, but enabling and empowering the people to do so.

We will also complete our evaluation process for partnerships with other businesses. Our infrastructure will be open to any organisation that wishes to support the production of independent, high quality media, so long as they adhere to PressCoin’s protocols.

Once again, thank you so much for your interest in the PressCoin ICO, and for making this endeavor such a success. Now, it’s time to roll up our sleeves and get to work.

The PressCoin Team

PressCoin federation for building platforms

Its been recognized that media producers, especially news publications, are severely challenged to provide meaningful content and value to their consumers, while having a profitable financial model. The problem is especially acerbated since distribution of news is largely controlled by a few technology giants and platforms. We present an alternative below:

PressCoin provides media houses, authors, readers, moderators an ecosystem to envisage news distribution & consumption differently. PressCoin federation is a shared ecosystem made up of media platforms which can make use of PressCoin’s infrastructure to scale and reach audiences. The PressCoin stack provides inter-operability between the applications in the ecosystems, defines specifications and provides tools for synergy: a shared set of data and services that power each platform within the ecosystem. The stack can be used by platforms to provide differentiated value to their audience without having to develop all by themselves.

As an example, take the issue of so-called “fake news”, which seems to be rampant. It is perhaps not easy to identify the authenticity of fake news using machine algorithms. PressCoin attempts to solve this issue by fundamentally changing the verification of news authenticity and moderation; not by using machine algorithms, but instead by having human moderators verify the authenticity of published content.

—–

Any media platform can become a part of PressCoin ecosystem, as long as they adhere to protocols and specifications of PressCoin Federation. The platforms within PressCoin can concentrate on producing meaningful content, leaving the rest to PressCoin.

PressCoin provides Layer of Abstraction to the PC platforms, which allows them to focus on content and engaging with their audience without necessarily worrying about technology complexities. The Backend Engine of PressCoin aggregates data from all platforms to provide shared services, which can be used by platforms to reach larger user base. The Infrastructure and overall Platform helps applications to scale quickly and work seamlessly with each other within the ecosystem.

NEWS Token Sale and Listing Update

Token Sale Update

PressCoin Plc. is delighted to report on it’s NEWS token sale which concluded 18th January. Over the 39 days of the sale USD$24.89 Million was raised through the sale of NEWS tokens.

A total of 51.46 million tokens have been issued, including bonuses. All other tokens will be burned. 7 million of these tokens are reserved for employee and management incentives, to be granted with a vesting period of 4 years.

Exchange Listing Update

NEWS tokens will be listing today on the CointypeX exchange. NEWS will be tradeable in the following currencies:  ETH, BTC, LTC, DASH, USDT and USD.

ICO participants will be able to trade their tokens 28 days after the close of sale.

Important Information For ICO Participants

ICO participants who purchased via PayPal or Bank Transfer are required to complete Know Your Customer (KYC) identification before they receive their tokens. Also, many crypto participants are missing transaction details which need to be updated.

By the end of this week a personal PressCoin profile page will be set up for everybody who registered for the ICO.

NEWS Is A Utility Token

As a reminder, the NEWS token became a pure utility token during the sale. See details here about why we made this change.

Watch out for further updates on PressCoin.

PressCoin token sale has ended

As many of you may already know, the PressCoin token sale has ended. In the 39 days of the sale more than 1 million users visited the ICO website from all over the globe. Thank you to everybody who has shown interest in the sale. Preparations are now underway for listing NEWS tokens on the CointypeX exchange next week. We will issue an advisory via our mailing list and on our blog when details of the listing have been finalized. Participants in the ICO will be cleared to trade their tokens 28 days after the end of the sale.

 

Instructions to purchasers

We are in the process of setting up a system to complete fulfillment. For PayPal and Bank Transfer purchasers this will involve completing Know Your Customer (KYC) identification procedures. Emails will instruct purchasers on next steps to claim your tokens if you have not already received them.The PressCoin team would like to thank all those who have taken part in the ICO.
 
And now the journey continues… and in this time of change and turmoil, we look forward to creating a more connected, more understanding world, one that is able to create collaborative and constructive change for our world. Onward!

A $100 Billion Crypto Economy To Help Save Democracy And Freedom – Part 3 of 3

[Editor’s Note: This is the third email of three sent to PressCoin’s thousands of subscribers over this, the penultimate weekend of the PressCoin ICO. The series of three emails updated prospective purchasers in the NEWS token sale on the big picture for PressCoin as we enter 2018, the year that cryptocurrencies are expected to mature.]


Dear PressCoin Subscriber,

Good morning and happy Martin Luther King Day!

Here in the U.S.A. today we are having a holiday to celebrate the birthday of the legendary civil rights campaigner. Its a good day to reflect on the importance of functional democracy, and the role of freedom of speech in defending freedom.

In this, the third and final part of this email series I discuss how PressCoin Plc. – as a technology company – will build value for NEWS tokens. ( See previous parts here >> Email One >> Email Two )

For PressCoin, the goal of restoring a free news media to prosperity is fully aligned with the goal of strengthening democratic institutions.

“A crypto-economy for a new independent news media,” is one of the key phrases we have used over the past five weeks to help communicate the full scope of the PressCoin project.

What makes PressCoin different from most technology ICOs is that PressCoin’s business solution is this new economy for a decentralised global news industry. An economy which will  transact internally using the NEWS currency.

And it’s for this reason that in the coming few months – as soon as the ICO ends – you will see our NEWS crypto-economy get rapidly underway.


[Skip This Bit If You Are A Crypto Expert – Background #1: NEWS is a “utility token”, an expression which is often misunderstood. BTC, BCH, DASH and ETH are also utility tokens – and what this means is that they can be used as a means of exchange, to buy and sell goods and services, or to transfer money.  That being said, right now most of the trades across all cryptocurrencies are not for goods and services, the vast bulk involves buying and selling different cryptocurrencies – and over the past six months – the volumes of trading have been driven in part by the explosion of the ICO market.  Scroll to the end to see another note explaining how capped cryptocurrencies are different from regular currencies – and why they can grow rapidly in value.]


Disruptive $100 Bln Crypto Ecosystem For Global News, Using Blockchain to Compete With Titans – Coin Telegraph – 28 Dec. 2017

A Transactional Economy From Day One

PressCoin’s NEWS token is the native currency of the PressCoin crypto-economy:

  • From February PressCoin will begin selling products and services in NEWS tokens.
  • PressCoin’s SAAS software products will be priced and sold in NEWS.
  • Participants in PressCoin’s planned content, traffic, advertising, subscriptions and services markets will transact in NEWS.
  • Readers who engage with publishers using PressCoin’s blockchain engagement technologies will be rewarded for their contributions in NEWS.
  • Readers and supporters who wish to support PressCoin projects will be encouraged to do so using NEWS.
  • And NEWS will also be used to pay PressCoin’s staff including writers, photographers, developers and designers.

All this is possible because of PressCoin’s association with a new Fiat/Crypto Exchange – CointypeX – which will be listing NEWS shortly after this ICO ends on 22nd January. We are finalising the date now and will let you know as soon as it is locked in. We are also in discussions  with several other exchanges for additional listings.

Continue reading A $100 Billion Crypto Economy To Help Save Democracy And Freedom – Part 3 of 3

A Platform Giant Hits Turbulence Confirming PressCoin’s Perfect Launch Timing – Part 2 of 3

[Editor’s Note: This is the second email of three sent to PressCoin’s thousands of subscribers over this, the penultimate weekend of the PressCoin ICO. The series of three emails updated prospective purchasers in the NEWS token sale on the big picture for PressCoin as we enter 2018, a year that cryptocurrencies are expected to mature.]


Dear PressCoin Subscriber, Hello again.

In my email yesterday I updated you on the PressCoin ICO which is closing soon.

We will be announcing the listing date shortly!

Today I want to talk about the PressCoin opportunity, as it is presented right now. News industry developments over the New Year mean our launch timing is looking pretty sweet.

To recap, PressCoin is much more than a run of the mill ICO. It’s the initial funding round for an ambitious technology platform to build solutions for a news industry suffering from acute market failurePressCoin’s economic stimulus approach to resolving the news crisis provides crypto buyers an opportunity to participate in a new cryptocurrency, NEWS, which will power a projected $100 Billion crypto economy for independent news.

Our ICO launch over the past five weeks – during a period when the entire world’s eyes were focused on the boom in cryptocurrencies – has been a perfect opportunity to showcase our project to the attention of the global market we will be targeting in 2018 and beyond.

How Facebook Will Rule The World In 10 Years– INSURGE Intelligence 29 December 2017

A Platform Giant Hits Turbulence

On December 29th PressCoin launched its INSURGE Intelligence investigative news platform into alpha with an article revealing previously unreported Facebook ties to the military industrial complex. The investigation detailed how the links pose a significant threat to global democracy, possibly a greater threat than the fake news epidemic which has been getting all the attention.

Six days later in a New Year’s message, Facebook founder Mark Zuckerberg promised to dedicate his efforts in 2018 to fixing flaws in the Facebook platform. Zuckerberg also announced Facebook is considering investing in cryptocurrencies.

Continue reading A Platform Giant Hits Turbulence Confirming PressCoin’s Perfect Launch Timing – Part 2 of 3

PressCoin’s Exciting Crypto-Economy To Safeguard A Free World – Part 1 of 3

[Editor’s Note: This is the first email of three sent to PressCoin’s thousands of subscribers over this, the penultimate weekend of the PressCoin ICO. The series of three emails updated prospective investors in the NEWS token sale on the big picture for PressCoin as we enter 2018, the year that cryptocurrencies are expected to mature.]


Dear PressCoin Subscriber,

PressCoin is a cryptocurrency project to address a wicked problem: the two decade long failure of the news industry to transition into a workable digital business model.

PressCoin is building new global markets, which trade in the NEWS currency, to service a crypto-powered news industry retrofitted with a raft of new revenue models. To accelerate this transformation, we will provide news companies with fit-for-purpose, omni-channel, state-of-the-art cloud based publishing solutions.

This forms the first version of what we call the PressCoin Operating System, and once assembled it will provide a boost of technological and financial infrastructure to an industry which is experiencing acute digital disruption. Along the way we hope to begin to heal the damage the failure of the fourth estate is doing to democratic institutions.

NEWS tokens is an opportunity to purchase a new global currency in its earliest stages, whilst supporting solutions for a critically important part of the world’s constitutional system. You can read more on PressCoin‘s plans to fix the news business in this new Coin Telegraph article, published today.

– Coin Telegraph, 12 Jan. 2018
 

Continue reading PressCoin’s Exciting Crypto-Economy To Safeguard A Free World – Part 1 of 3

PressCoin Updates

The PressCoin team is issuing this clarification with regard to the early inclusion of Barkha Dutt as a member of the PressCoin media advisory team.

In early November, some individual members of the PressCoin team were working with the renowned Indian journalist Barkha Dutt on another, entirely separate project involving the digital publishing company Quintype, during which they had some informal discussions with her about PressCoin. Due to the speed at which we were moving at this time, and some miscommunication, the PressCoin team mistakenly (but sincerely) believed that Barkha had agreed to come on board our team. This however was incorrect.

As such, we listed Barkha on our website in the ‘Who’ section and identified her as one of the veteran journalists on our team in a press release we sent out in November.

This misunderstanding on our part was reinforced because several members of the PressCoin team did try and reach Barkha around this time but due to her busy involvement with her own independent ventures during this period, she missed these communications..

By early to mid-December, there still had been no formal written or verbal communication with Barkha about her role in PressCoin. Therefore, after internal discussions about the matter, the PressCoin team decided to remove her name from the website and ceased using her name in any material.

PressCoin is issuing this statement to clarify that Barkha Dutt is not and has never been a member of the PressCoin team, and our belief that she had agreed to joining our project in November was a misunderstanding on our part. For our role in that, we unreservedly apologize, and express our sincere thanks to Barkha for her kind understanding.

Team PressCoin

*The above statement has been approved by Barkha Dutt

** Stay tuned for more news – listing date updates, listing exchanges updates, coming soon via updates!