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interviews Amit Rathore about what we’re building at PressCoin.
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PressCoin is different. In order to get your hands around the size of this business opportunity, one has to take a step back.
The value of PressCoin isn’t a single platform or revenue stream. PressCoin is a protocol, shared infrastructure and services, reference implementations, and an open developer ecosystem coupled with a startup accelerator program.
– from What is PressCoin, Really? This article explains how the PressCoin tokens will service a $100B+ economy, and how to think about the size of the market opportunity.
By this time in 2017, everyone knows that the rise of Facebook and Google and other such Internet platforms has indirectly cause the downfall of journalism and has subsequently weakened democracies around the world.
This has happened because the news media economy, a vital instrument in the flow of unbiased and useful information about our world has become dependent on others for its very survival. And given that economics is itself a field of incentives, when such an imbalances occurs in an ecosystem – the results can be predicted fairly easily – the imbalance is exploited by everyone, and any collateral damage becomes the tragedy of the commons.
Case in point: nearly 30% of the global ad industry (~$560B) is now digital (at about $170B) and around half of this is already taken by Facebook and Google. What’s more is that nearly all the growth in the digital ad market (the remaining 70% and growing), is moving entirely into Facebook/Google, making matters worse. The news media industry has been bleeding heavily for the past several years, with no major solutions in sight.
Bitcoin and cryptocurrency and blockchain and decentralization… so many words, so much change! As the rising price of Bitcoin takes the world by storm, a lot of folks are breathlessly talking about the potential for freedom from governments and so on…
We believe this is all just so much rhetoric. To actually understand liberty, one has to understand what it means.
There’s a lot of conversation about democracy and liberty, particularly in the context of cryptocurrency. Why is this? Is it really possible that digitization of money will have such a consequence? The reality is, government control or not (and we do need government!), there is more to Liberty.
Here are the required conditions for Liberty: Knowledge, Wealth, and Freedom. They form what I call the Triangle of Liberty.
Mind control works in subtle ways. When fed on a consistent diet of half-truths and biased facts, a populace really has no chance.
The reason that the top 1%, the richest of the richest, are buying up media companies (think News Corp, or even Jeff Bezos’ purchase of The Washington Post) is that when you can control the news for millions of consumers, there’s a special power that comes from this.
In this vein, PressCoin is a new paradigm, where the new platforms are powered by the people, for the people. And even though this fundamental people-power reflects in all the platforms powered by the PressCoin protocol, in a way, PressCoin itself is a virtual platform. PressCoin, in effect, is a virtual aggregation of all the platforms that it powers, being able to run on top of the same common infrastructure that powers the entire ecosystem.
For everyone following the PressCoin journey, here’s a quick update diagram.
How it all began, and where PressCoin is
While we continue to build the rest, do check out our ICO page, we can use your support!
PressCoin is a new, alternate media ecosystem, one that comprises several companies, platforms, and projects.
One such incubator project that launched a few days back is RealNewsy.
RealNewsy is a young, energetic news service that does one thing well: gives the consumer 1-minute reads/videos to understand important things going on in the world today.
And being decentralized, it brings in voices from all over the world.
RealNewsy is looking for talented writers to join the team – freelancers are welcome – please email firstname.lastname@example.org if interested, we’re rapidly growing.
Don’t forget to visit RealNewsy. for your daily fix!
And also, our ICO is here.
With Runa, our recognition was the the world is a funnel, and that only data-driven optimization (which has no personal bias, the death knell for merchandising) could help solve the problems faced by online e-commerce players, in their war for customers, with the big gorilla eating their lunch – Amazon.
[Image: A PressCoin supporter in Los Angeles made this for us … neat, eh? Thank you @ryuchoun]
With all things non-trivial, it is about architecture and design. A well architected, layered, well factored system is highly flexible, resilient, and scalable.
Therefore, with PressCoin, we began with the overarching lay of the new ground, from which will sprout the fruits of our work.
For those who’re familiar with architecture/layer diagrams, this will seem straightforward.
At PressCoin, we have a clear path towards a new news media ecosystem, not built on pure-play content, but complemented by news/content.(Crypto currency)
After all, news, and breaking news in particular, isn’t that interesting. Wire services break news too, and that’s not what we really “consume”.
A good news service often offers their readers an important service – breaking it down in terms of how something that’s happened affects them. This (hopefully) leads to an informed public, which then leads to an informed society. Peace, prosperity, and progress – all three are possible – if the society underneath is stable and no one is being quite left out.
And we also know that we don’t have all the answers, no one does.
Therefore, a good portion of the PressCoin raise is dedicated to fostering innovation from global news/tech startups.
Here are some important projects that will likely be part of the 2018 cohort of PressCoin Ventures:
Kumogado – Personal cloud guardian for activists, journalists, et al
NewzChain – High-Speed News Aggregation on the Blockchain
AwakeParty – Platform for Political Action Networks
RealNewsy – Short takes on Real News and Issues
SuffChain – Universal Suffrage on the Blockchain
More cool projects are sure to appear, stay tuned!
Let us know – email us at email@example.com
And support our ICO here.