With the advent of the camera phone in the mid 2000’s nearly everyone was given the power of photography almost overnight. In recent years, self taken photos have become the most common way of capturing visual memories.
It is also interesting to note that the number of photos taken annually is now estimated to be somewhere around the 10 billion mark. Even with all of this expansion, there still remains a big problem of non-institutionalization within this domain. As a result of this, creative photographers are not able to get a fair share of revenue for their work.
Pibble can be thought of as a blockchain based technology that is designed for the generation of fair revenue for “image creators”. Not only that, it also allows for the minimization of issues related to copyright infringement thought he use of a unique “filter mechanism”.
More About Pibble PIB
When looked at from a technical viewpoint, we can see that Pibble uses ‘real time recording’ processes that make it possible for all network participants to interact with the data being offered. Additionally, the ecosystem is open source based and allows anyone to become a creator/ consumer.
Some of the other core aspects of this platform include:
As per the official company whitepaper, the system is built in way such that there are no limitations from a time/ space perspective— thereby allowing for maximum platform usability.
The Pibble ecosystem is completely transparent and makes use of a functional model that promotes the generation of profits for image creators and content distributors.
An underrated aspect of this system is that it can behave as an advertising medium for various companies looking to increase their brand visibility.
It is important to note that the Pibble network works through the use of the ETH protool. Additionally, the consensus algorithm used by the system is called the Delegated Proof of Stake (DPoS) method. The advantage of this method is that it does not rely on the mining activities of third party users for faster confirmations. Instead, it has been constructed through the use of a certain number of ‘representative nodes’ that allow for better overall system performance.
At this point, it should also be mentioned that PIB Tokens are used to facilitate internal transfers and processes. These tokens are also used for doling out incentives to network participants for activities such as
- Verification of user details
- Tracking participant activities such as downloads, up-votes, thumbs up and comments, etc.
Lastly, it is important to remember that the reward distribution is determined by the ratio of ‘Pibble Brush’ held by each witness.
Who is Behind This Project?
Traedi Lee is the Founder of this Venture. She holds an MBA from Yonsei University and has been in the digital domain for over a decade now. She is currently involved with other high profile projects including:
- Kiwi Media Group— Content In-Charge
- Star Asia— Head of Content Distribution and Promotion
Additionally, as per her online bio she has provided “copyright protection services” to more than 60 newspapers in Korea.
Similarly, YoungKey Park is the CEO of Pibble. He is the person behind the “image recognition technology” used by this platform. Additionally, he is also responsible for creating Pudding Face— an image recognition app that is quite popular today.
Pibble PIB ICO Token Details
In all, there will be a total of 30 billion PIB that will be created. The presale is scheduled to start on the 14th of March and end on the 26th of the same month. Similarly, the ICO phase is deemed to begin on the 1st of April and conclude on the 15th.
In terms of the distribution of tokens, the allocation will be done as follows:
- Ecosystem Development (35%): 35% of all PIB Tokens will be used by company reps for the further revitalization of the core internal modules.
- Founders (20.9%): 20.9% of all PIB Tokens will be held by the company's stockholders and core research team.
- Token Sale (30%): 30% or 9 billion PIB Tokens will be sold to potential investors via the Pre-ICO and ICO sale periods.
- Company Advisors (8.0%): 8% of all coins will be delivered to partners and early backers of this platform.
- Marketing (6.2%): the remaining tokens will be used for creating bounty programs.
Pibble PIB Funds Allocation
- 44% of all raised revenue will be used for “system development” as well as paying for operating expenses.
- 32% of the funds have been set aside for “marketing purposes” and for creating “strategic partnerships”.
- 12% will be used for business development
- The remaining 12% will be used to pay for legal expenses.
For any further queries pertaining to Pibble, users can email company reps on the address provided on the website.