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 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!

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!

PressCoin now pure utility tokens

Why?

As a consequence of the rapidly evolving regulatory environment (or the lack of clarity surrounding this) with regard to ICOs, PressCoin Plc. has decided to remove the equity share backed aspect of its coin offering. A hybrid smart-token is also a utility token, and in fact, all fungible tokens are fundamentally utility tokens. There is an unfortunate amount of confusion around these basic concepts.

Therefore, as the understanding grows, countries around the world are evaluating various approaches to regulating ICOs, and ensuring KYC/AML laws are followed, including in the US, India, South Korea, China, and multiple other countries around the world. PressCoin already follows these laws, and this change will make it even easier for everyone to understand the value of the news media crypto economy.

PressCoin tokens are now constructed as pure Utility Tokens. PressCoin’s management will follow all appropriate transparency and shareholder requirements as required by public companies in the United Kingdom. Nevertheless PressCoin remains committed to transparency and openness with token holders around PressCoin ecosystem  and we look forward to continued support in helping us build a new alternative news media ecosystem for the world.

 

You’d rather not?

If you’d rather not support the project due to this change, we understand. Please send an email to support@presscoin.com along with your transaction details, and our team will work with you to process a refund. ICO participants can decide, and get in touch regarding this through the end of January 2018. We believe that most of our supporters will stay the course!

Happy new year!

P. S. – Updated 1/16/2018. Stay tuned into our blog for updates on listing dates, exchanges, and more.

Insurge Is Coming!

We are extremely proud and excited to announce the public beta of our new platform for Insurge Intelligence.

Powered by PressCoin – Insurge is a new platform for Understanding News, and moving from Understanding to Action.

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It uses a new Euclidean information model to create a unique way to represent knowledge. It allows and encourages users to See that complexity comes from interconnected and interdependent nature of systems and issues, and that no issue can truly be considered in isolation and “by itself”, for no trivial issue is unidimensional.

So dive in, start exploring, join the conversation! And support the PressCoin ICO here.

 

PressCoin is the Cryptocurrency Foundation for a Decentralized Federated News Media

To say that the news media industry has been bleeding heavily these past few years is an understatement. Journalism as a profession is simply dying out … the economics of the old model have become obsolete in a spectacularly short amount of time, leaving not just newsrooms reeling, but our world itself.

Many attempts have been made to address this crisis… PressCoin is different. For the first time, this is a truly holistic, end-to-end response to the problem faced by our planet. Bold, ambitious, but the world needs it. So how would it all work?

Blue Ocean vs Red Ocean

Here’s how Wikipedia defines Red Ocean Strategy:

Red oceans represent all the industries in existence today – the known market space. In the red oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known. Here companies try to outperform their rivals to grab a greater share of product or service demand. As the market space gets crowded, prospects for profits and growth are reduced. Products become commodities or niche, and cutthroat competition turns the ocean bloody; hence, the term “red oceans”.

Making your competition irrelevant with blue ocean strategy

And here’s the Blue Ocean Strategy:

Companies can succeed by creating “blue oceans” of uncontested market space, as opposed to “red oceans” where competitors fight for dominance, the analogy being that an ocean full of vicious competition turns red with blood  … these strategic moves create a leap in value for the company, its buyers, and its employees while unlocking new demand and making the competition irrelevant.

PressCoin is very much a Blue Ocean strategy. PressCoin is not interested in fixing the whole Internet at once. No one can solve “fake news” – it has existed for time immemorial. Misinformation and disinformation have been around since the beginning of politics. Therefore in order to solve for “real news” – we must simply side-step the issue of “fake news” altogether, an simply create new worlds that bring together people around specific topics and actions. For instance, NextElection is a platform, a new digital town hall for politicians, journalists, and citizens. It creates an end-to-end experience for people to participate actively in the democratic process – bringing together relevant news, issues, people, and ratings – all around specific elections around the world – local, state, and national.

In order to create these new purposeful platforms, and in order to have them succeed, one needs to understand the state of the Internet today.

Continue reading PressCoin is the Cryptocurrency Foundation for a Decentralized Federated News Media

NextElection is coming!

PressCoin is excited to announce the alpha launch of NextElection – a Digital Town Hall for Politicians, Journalists, and Citizens. It will create a collaborative space for all of us to engage around local/state/national elections in any part of the world. The platform is moderated, so is expected to be free from trolling, etc, and is being designed as a space for like-minded netizens to find commonality, understanding, and civil discourse. It will also be a good place to start/join political action networks.

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Continue reading NextElection is coming!

Spread holiday cheer, buy PressCoin cryptocurrency T-Shirts!

With all this change-the-world thing going on, we thought we’d also throw in a little bit of fun! Here are some PressCoin T-Shirts you can buy, and gift, and take pictures in!

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Buy one, buy several actually, right away! And also remember, NEWS tokens make excellent gifts too, especially for those friends and relatives that don’t stop talking about the state of our country, and the news, and politics, and … they’ll love you forever, it’s the truth. Happy holidays!

Time, NextElection, and Merry Christmas

I trust everyone is having a slower than usual set of days… the end of the year is always a good time to slow things down a little, take the time to smell the roses, so to speak 🙂

It is often a good time to reflect on the Time that’s slipped us by (yet again!) and to spare some thought on where we want it to go next. Some people say one should reflect on the how we got here, and to really analyze the causes, the effects, and to get to the Bottom of Things, and to really understand before one does anything… Perhaps, that is certainly a way to approach things. IMHO the past doesn’t matter all that much. The moment that we’re in, the present, it already encompasses everything that has happened. Here we are, in the now, always intensely now.

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And from here we look towards the future, and we only see where we want to be, where we want to go. And how we got here only matters because it got us here. And now, a common goal, a common and more real future calls to us. We must unite as people, past our minor differences, and unite in our commonness. We must stop arguing about who said what to who and on what media channel and how many tweets were generated from all of it… We must pause, and take a step back. We must breathe.

Continue reading Time, NextElection, and Merry Christmas

ICO Days

This is team PressCoin with a quick note, reminding everyone to slow down a little bit over the holidays! We are extending the ICO by 2 weeks, so you have until 1/22 to buy your PressCoin tokens! Help us spread the word, so we can gather more strength and support to take on this ambitious vision at PressCoin.

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Remember, NEWS tokens make excellent gifts too, especially for those friends and relatives that don’t stop talking about the state of our country, and the news, and politics, and … they’ll love you forever, it’s the truth. Happy holidays!