Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.
The online world is filled with one big problem: content theft. Because the internet is essentially the modern wild west, it is easy for users to steal others’ work while remaining anonymous and still benefiting from it. PO.ET is looking to be the decentralized solution to content theft in an increasingly connected world.
What Is PO.ET (POE) & How Does It Work?
PO.ET is a decentralized universal ledger that allows creators to track, claim ownership of, and retain attribution for their creative assets. It does so via proof-of-existence, which is the first ever non-financial application of the blockchain.
Proof-of-existence allows anyone to upload and verify (hash) documents on the blockchain. They can do so without actually storing it, meaning they can stay anonymous while still proving ownership of content. It is based on the original Bitcoin blockchain hashing system.
Essentially, PO.ET is merging the publisher and the content creator by allowing users to license their creative work without reliance on a third-party. Creators can pick between an existing license template, or create their own based on their needs. Any deal is built into an immutable smart contract.
Because the blockchain is immutable, the first person to upload a piece of content will be named its owner. This solves the rising issue of content theft, as the original creator will be able to prove ownership of their work. Also, users can view the history of the content via the blockchain.
The proof-of-existence consensus algorithm is widely underused, so PO.ET taking advantage of it is a big plus. PO.ET has an ambitious goal, but it is an important one. Journalists, content creators, publishers, and anyone else who creates or curates content on the growing real estate we call the internet will benefit from this project’s success.
The PO.ET token is an ERC-20 coin used to show ownership of each piece of content uploaded to the blockchain. Coins are immutable, and one can be used to transfer ownership if that was ever necessary. Each one is timestamped and stores all sorts of metadata relevant to the piece it is tied to.
Currently, the PO.ET authentication platform is in beta on the App Store. It launched in March of 2017, and since then has been working through its “Rosetta Era.” During this time, publishers began to integrate it, and the ICO went through.
Soon, they will enter the Gutenberg Era, which brings the portfolio, e-book registries, payment channels, and other forms of revenue sharing. The Alexandria Era is next, which will provide image and video support, a marketplace, reputation, and more. Alexandria should encompass the full release of the PO.ET application.
While what’s currently here is promising, the decentralized marketplace and support for image and video content are real game-changers for the PO.ET network. Assuming everything goes well, content creators and journalists will be incredibly motivated to switch over to this blockchain if they want to continue their careers without fear of theft.
PO.ET is a small but experienced team. The CEO, Jarrod Dicker, was once the vice president of innovation over at The Washington Post, while also starting the company RED, which was the Post’s research group. Otherwise, team members have a history in the blockchain space, marketing space, and development spaces.
Other members have years of development and product management experience. Also, the project is now partnered with AmaZix, Jaxx, and The Maven, with more partnerships on the way.
The PO.ET Twitter is incredibly active, always sharing relevant links and communicating with followers. Otherwise, the subreddit is an excellent source of information, though the team isn’t very prevalent on there.
They manage their community well and spend time translating their projects into Chinese, as there is a big cryptocurrency market over there. Most projects fail to acknowledge this. That effort could mean the difference between the success or failure of PO.ET.
PO.ET is available on only a few exchanges, though Binance is one of them. As one of the worlds biggest exchanges, that’s a pretty good sign. As the project moves into its more viable stages, it is likely that we will see PO.ET on other exchanges like Kraken and Bittrex as time goes on.
The PO.ET coin is ERC-20 compatible, meaning you can store it in a variety of wallets. MyEtherWallet, MetaMask, and hardware wallets like Trazor or the Ledger Nano S also work.
What’s Next For Them
Overall, the PO.ET project will bring a secure way for creators to prove ownership for their work while remaining anonymous if they so choose. It works for creators, publishers, and other artists while placing them on an even playing field. The technology is easily auditable on the blockchain and is incredibly flexible in what it can do.
It is a promising project with quite a bit to show already. On top of this, PO.ET has a few great partners, furthering the validity of the project. Regardless, content theft is a massive problem on the internet, and hopefully PO.ET can be a step in solving that issue.