[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.
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.
So as you can see PressCoin is planning to hit the ground running with NEWS.
We will use NEWS actively to build our core business, to raise further finance, and to drive a transactional NEWS token based economy from day one.
The creation of this transactional economy is at the very heart of PressCoin’s overall business strategy.
A key reason why the existing global news business is so uncompetitive is that its two biggest competitors – Facebook and Google – are both globalised multi-currency ecommerce businesses. Whereas news companies are for the most part localised and atomised – even if owned by multinational conglomerates.
PressCoin plans to provide globalised multi-currency ecommerce capability to every publisher in the world who wishes to join our crypto-economy, no matter how small. And we think this will be game changing.
And it is because of this that PressCoin has such bullish growth forecasts.
As the PressCoin powered ecommerce markets settled in NEWS tokens grow, they will create demand for tokens.
In this way the success of PressCoin Plc. – a technology company at heart – and the value of NEWS tokens held by token holders is closely tied together. As the technology platform grows, so will the value of the currency.
Our modelling estimates the transactional economy in NEWS utility tokens will grow to $100Bn over five years.
The total number of NEWS tokens ever to be released is capped at 100 million. And it is because of this that as the volume of business in the NEWS market grows (i.e. its GDP or total turnover) tokens will increase in value, like ETH and BTC which are also capped.
[Background #2 – How Cryptocurrencies Are Different – Understanding how this cap works is the key to understanding the difference between true cryptocurrencies (the capped kind) and regular currencies issued by governments. Whereas price stability is the objective of central bank controlled currencies – and additional dollars, pounds or euros are issued as the economy grows, in capped cryptocurrency markets (like BTC and ETH) the utility of a currency to transact in is unaffected by the value – and the value of the currency itself (i.e. each token) grows as the overall GDP grows. I.E. holding a currency unit in crypto-economy is a bit like holding a share in a nation’s GDP. All of which goes a long way to explaining why the cryptocurrency boom is probably here to stay.]
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