{"id":47997,"date":"2018-05-07T09:00:32","date_gmt":"2018-05-07T13:00:32","guid":{"rendered":"https:\/\/www.adorama.com\/alc\/?p=47997"},"modified":"2018-05-03T12:08:03","modified_gmt":"2018-05-03T16:08:03","slug":"stock-photo-blockchain-company-to-hold-cryptocurrency-ico","status":"publish","type":"post","link":"https:\/\/www.adorama.com\/alc\/stock-photo-blockchain-company-to-hold-cryptocurrency-ico\/","title":{"rendered":"Stock Photo Blockchain Company to Hold Cryptocurrency ICO"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">One of the buzziest buzzwords today is &#8220;blockchain.&#8221; Now blockchain has entered the world of photography. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">What is blockchain? Very simply put, blockchain, once deployed over many computers, becomes a verifiable, sustainable, string of recorded pieces of data through which content and transactions can be tracked, without any possibility of illicit copies or under-the-table transactions.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The applications for this technology seem endless \u2014 from the now well-known <a href=\"https:\/\/bitcoin.org\/en\/\"><span class=\"s2\">Bitcoin<\/span><\/a>, to combating <a href=\"https:\/\/www.investopedia.com\/news\/how-blockchain-technology-can-prevent-voter-fraud\/\"><span class=\"s2\">voter fraud<\/span><\/a> and everything in between. But an Israeli company called <a href=\"https:\/\/www.wemark.com\/\"><span class=\"s2\">Wemark<\/span><\/a> is applying this technology to stock photography, with a stated aim of disrupting the traditional model used by the big stock photography websites. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In a piece on <a href=\"https:\/\/medium.com\/wemark-stories\/the-future-of-marketplace-6370999acae5\"><span class=\"s2\">Medium<\/span><\/a>, Tai Kaish, co-founder and CEO of Wemark, explains that their technology intends to remove the middleman \u2014 the traditional stock photo brokers \u2014 from the equation. The transactions over their platform occur directly between the photographer and the buyer. Kaish says: &#8220;In simple words, it allows us to sign a distribution contract with sellers for every item they list \u2014 we get 15% of each transaction, they get 85%. The contract is public and cannot be changed<\/span><span class=\"s3\">\u200a<\/span><span class=\"s1\">\u2014<\/span><span class=\"s3\">\u200a<\/span><span class=\"s1\">not by us, not by the seller, not even by Chuck Norris.&#8221;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In further news, <a href=\"https:\/\/www.youtube.com\/watch?v=cFMgXe6KfZw\"><span class=\"s2\">Wemark has announced<\/span><\/a> what&#8217;s called an <a href=\"https:\/\/www.recode.net\/2017\/9\/19\/16243110\/initial-coin-offering-ico-explained-what-is-money-bitcoin-digital-currency\"><span class=\"s2\">Initial Coin Offering<\/span><\/a> (ICO). This means that they&#8217;re going to be selling a digital currency based on cryptocurrency technology to help finance their company. This digital currency will also be used on their website to license images through their platform&#8217;s blockchain. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Wemark&#8217;s ICO will begin on May 7th.<\/span><span class=\"s1\">&nbsp;And though their marketplace is not yet live, Wemark says that it already has 3,000 photographers and content creators who have committed to selling photos through their platform. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">What does this mean for photographers? It&#8217;s still too early to be making predictions, but any platform that pays photographers 85 percent of revenue from sales of their photos can&#8217;t be all bad, can it? And one might guess that if Wemark is successful, the big boys of stock photography might take notice and start making the revenue model on their sites more favorable to the content creators. Interesting times may lie ahead.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the buzziest buzzwords today is &#8220;blockchain.&#8221; Now blockchain has entered the world of photography. What is blockchain? Very simply put, blockchain, once deployed over many computers, becomes a verifiable, sustainable, string of recorded pieces of data through which content and transactions can be tracked, without any possibility of illicit copies or under-the-table transactions. [&hellip;]<\/p>\n","protected":false},"author":11111143,"featured_media":47998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,3],"tags":[16286],"class_list":["post-47997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-photo","category-trending","tag-stock-images"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stock Photo Blockchain Company to Hold Cryptocurrency ICO - Adorama<\/title>\n<meta name=\"description\" content=\"One of the buzziest buzzwords today is &quot;blockchain.&quot; Now blockchain has entered the world of photography. What is blockchain? 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