While it seems that the book industry is yet to catch up to blockchain technology, there are ICOs already causing a stir by applying the concept. DIGITHOTH is one such example of how blockchain technology could have applications to our reading materials. Here's how DIGITHOTH will incorporate the underlying technology behind Bitcoin.
What Is Digithoth?
DIGITHOTH is a blockchain-based platform that provides a payment solution for the $143 Billion book industry by providing an ecosystem for readers, online bookshops and publishing houses.
The resilience on traditional finance methods to road-block businesses in the industry results in extra fees and insecurity for the participants. Under DIGITHOTH book industry players will get an alternative option regarding blockchain technology and use cryptocurrency as a secure means of payment.
The payment solution will issue the following:
- DIGITHOTH Token (DGT) – the platform’s native cryptocurrency will stand to replace the traditional fiat currency for transactions. Together the platform will change the payment systems in the book industry.
- DIGITAL THOTH wallet- participant uses the crypto wallet to send, receive and store their DGT tokens
- DIGITAL Archive- the AI-based digital archive will look to develop an ecosystem that digits books, information, and content under an open source database
How Digithoth Book Blockchain Payment Works
DIGITHOTH's goal to harmonize the book industry will work under the following process.
A bookshop website on DIGITHOTH offers the payment option for books through DIGITHOTH token. If a Reader A would like to purchase a book on website X, they would want to need to choose the DIGITHOTH token as the payment method. The reader A is led to a payment page from where they can enter the amount they want respective of the book value. Using the DIGITHOTH wallet, the reader pays the required amount, and the website unlocks the book for downloading.
- Ease of use- writers, will not need to go through the policies of publishing houses and their can upload and float their work directly to the readers.
- Anonymity- readers will not need to submit their personal information while purchasing the e-books as evident with credit/debit cards.
- Advanced security- using the Ethereum blockchain and ERC-20 smart contracts as the standard for the token ensures a safe financial chain for both readers and writers from all over the world.
Digithoth DGT Token ICO Details
- Private Pre-Sale – May 15, 2018 – May 31, 2018
- Price – 1 ETH = 12,500 DGT
- Pre-Sale – June 1, 2018
- Price – 1 ETH = 10,000 DGT Price increase by 1% daily
- Crowd Sale – June 26, 2018 – July 31, 2018
- Price – 1 ETH = 7,800 DGT Price increase by 1% daily
Parameters Of The ICO
- Ticker- DGT
- Platform- ETH
- Accepts- ETH, BTC, BCH, XMR
- Cost- 1 DGT= 0.0001 ETH
- Total supply- 500,000,000 tokens
- ICO supply- 340,000,000
- Hard cap- 30,000 ETH, 2500 BTC
- Tokens sale- 68%
- Founder and partners- 15%
- Archive community- 12%
- Airdrop- 3%
- Bounty- 2%
DIGITHOTH seeks to eliminate a good number of the issues highlighted in the book industry. However, much we may assume the concept with DIGITHOTH is stable, there are plenty of other ICOs already using the similar idea.