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.

PressCoin and NewzChain – The Story Publish flow on PressCoin

From blockchain to blockchain… PressCoin is a large project with lots of moving parts. While the currency (NEWS) tokens are on Ethereum, the PressCoin project itself will use various blockchain technologies as the right use-case demands. In the end, the ledger is what is the most important, and the rest being runtime implementation choices.

Blockchain – the Distributed Public Ledger

From many points of view, the fact that blockchain gives you a publicly auditable ledger without a central authority, should be plenty information to understand how this fundamentally changes everything. PressCoin is just one of many, many use-cases of blockchain, and the cryptocurrency is one such. Here’s another, a conversation from an architecture point of view. We’d love to hear what others have to say – PressCoin is a journey for everyone!

NewImage

PressCoin and Blockchain for Story Publishing

Generally, writing story and publishing to all readers is nothing unusual and out of the box apart from writers skills. What is special about using the PressCoin technology stack? The blockchain based PressCoin platform is committed to be extremely transparent, and so must support a well-regulated mechanism for all the participants, end to end. The PressCoin value-adds then, for this use-case, right out of the box are…

Continue reading PressCoin and NewzChain – The Story Publish flow on PressCoin

How PressCoin relates to Civil or Steemit or WikiTribune

PressCoin aims to change the state of the public sphere with a range of interconnected platforms, built on blockchain, powered by the coin. Our ICO is next week.

This article talks about a couple of other notable attempts at fixing our state of news and journalism, and how they might relate to PressCoin. And before we begin, we at PressCoin unequivocally support all such initiatives that are trying to fix the world of new/journalism for everyone.

Let us begin by taking a look at Civil, then we’ll look at the other two, before looking into the unique aspects of PressCoin.

Real News is Freedom

Medium vs. Civil

Here’s how Wikipedia describes Medium – I tend of agree more or less, you can decide for yourself:

Medium is an online publishing platform developed by Evan Williams, and launched in August 2012. It is owned by A Medium Corporation.The platform is an example of social journalism, having a hybrid collection of amateur and professional people and publications, or exclusive blogs or publishers on Medium, and is regularly regarded as a blog host.”

So, what is Civil? It is essentially a blockchain-based decentralized version of Medium. Which, while it is well and good, isn’t a complete solution to the media industry’s revenue woes. Civil is suitable for the similar use cases as Medium is – that of an independent writer or organization that needs a hosted blog-like platform on which to share content. Some services, such as premium content and subscriptions, are not nearly enough to sustain the more enterprise needs of news organizations, for instance. In other words, Civil is also mostly a consumer product, bordering on the prosumer. It definitely has a space though, and we’re big fans.

Now let’s take a quick look at Steemit, before turning our attention to WikiTribune.

Facebook vs. Steemit

We all know Facebook, don’t we! Facebook runs the mother of all content aggregation businesses. In the guise of connecting everyone, and with its 2B+ users it certainly has, Facebook has monetized content created by others, ever since it launched the news feed.

So… what’s Steemit? Think decentralizing the Facebook model, and creating an alternate, blockchain-based Facebook. Everyone benefits. Except, for a couple of things. It doesn’t solve the media industry revenue problems, since content from existing content producers is still getting shared on Steemit. And it has a very big catch-22 problem – Facebook is Facebook because everyone is on it. There have been many attempts at creating alternatives to Facebook, but if the platform is essentially a replacement, it usually remains a relative ghost town… as everyone waits for the other to get on first. And again, it definitely focuses on the individual consumer, or the prosumer content creator. Not an enterprise solution, nor is it meant to be.

Still, a new social network that pays you to create content, and pays people to interact, and is an alternative to Facebook, we’re supportive!

#FakeNews Media vs WikiTribune

Wikitribune is basically a digital newspaper running of donations, along with a Wikipedia-like army of volunteers. Definitely a newspaper I’d read, in particular when events are breaking, and you need a balanced, verified view of the goings on. Hence their focus on verified recordings, etc.

So Wikitribune is definitely a great attempt at one aspect of the journalism industry – breaking news – particularly when we live in a world where having an unbiased view of events as they unfold can sometimes be critical. It definitely gives any major news service that plays in the breaking-news category, a solid run for their money. And as a new by-the-people-for-the-people resource within the broader journalistic and news media ecosystem, it is an addition that we wholeheartedly support!

PRESSCOIN NEWS TOKEN

So what is PressCoin?

Before we answer this question, it is important to take note of a couple of things. First – we now know what Civil and Steemit really are. And two – that in order to understand PressCoin, one only needs to understand the set of PressCoin platforms already under development. But first, we’ll understand the approach, the philosophy, and most importantly, the design of PressCoin, and how it creates a completely new news media universe. All this in What is PressCoin, Really. Stay tuned.

And you can support PressCoin by joining the token-sale here.