PressCoin is a new cryptocurrency infrastructure that aims to fundamentally redesign how we create, design, fund, market, and deliver media. Find out what that means today in our review.
What Is PressCoin?
PressCoin, found online at PressCoin.com, is a system of protocols that, according to the official website, “supports the social, civic, economic and ecological needs of people in the real world.” The goal is to empower them with new ways of harnessing and shaping information flows “in a way that facilitates positive change in their own lives and communities.”
In more straightforward terms, PressCoin is an ecosystem consisting of a range of independent media companies. These companies can access the PressCoin ecosystem for its utilities, tools, and capabilities.
The long-term goal is to democratize the world of media and help combat the rise of fake news while promoting high-quality journalistic standards.
How Does PressCoin Work?
PressCoin provides a network of interconnected utilities, tools, and capabilities to a diverse range of independent media companies. By sharing data analytic frameworks, market analysis, content management systems, marketing capabilities, and other powerful tools, every company in the PressCoin world is able to interact with an ecosystem that supports their ability to reach readers.
Media companies can also use the PressCoin ecosystem to attract investments and create multiple revenue streams.
Ultimately, media companies can access all of these platforms at a lower cost than they would pay if they developed services independently. Smaller media outlets can’t compete with the resources of larger media outlets. PressCoin is one way to even the playing field.
PressCoin’s ecosystem consists of independent press entities that are resilient and adaptive to future scenarios. These media companies can compete in today’s media field regardless of their size.
Here’s how the PressCoin whitepaper explains the key functions of the platform:
“The key to PressCoin is participation. Rather than simply extracting, PressCoin builds value at every step of participation, for investors, editors, writers, producers, curators, commenters, readers, coders, inventors, users, subscribers, and participants of all kinds.”
All of these parties are incentivized to participate in the platform. PressCoin also describes its ecosystem as “regenerative” because it renders the old media system as obsolete:
“The PressCoin regenerative ecosystem for media changes the very rules of the game, rendering the old media system defunct; while in turn catalyzing the public sphere by empowering our participants, laying the civic foundations for the regeneration of democracy.”
What Problems Does PressCoin Seek To Solve?
PressCoin was built to address the rise of fake news in the last few years. Dictators throughout history have always sought to attack a free press. A free press is one of the only ways to prevent the rise of a dictatorship. Dictators know this, so they try to discredit or weaken the free press.
Of course, the media isn’t totally blameless: many media outlets hold tremendous sway over the population in spite of the fact that they’re privately owned. They represent private interests, and their coverage aligns with those interests.
Overall, PressCoin sees this as the collapse of journalist as an institution. Today, Facebook and Google dominate the landscape with clickbait-style headlines. These articles have minimal journalistic integrity. Some of these articles are completely fabricated. However, these websites often surpass higher-quality journalistic platforms in terms of advertising revenue.
In other words, low-quality, divisive content is what “sells” on today’s internet. PressCoin sees this as more than just an annoyance. It’s a threat to democracy:
“The shift from quality information to attention grabbing headlines and content puts not only journalists at risk, but readers and entire democracies…The result is the political and ideological polarization of the public sphere, leading to the erosion of democracy itself.”
With that in mind, PressCoin wants to address the causes – not the symptoms – of the media’s decline.
PressCoin Products And Services
PressCoin has already developed a number of products and services to democratize the media landscape, including all of the following:
Insurge is “an intelligence platform and action network” that facilitates real-world action for local, national, and global change through high-quality investigative journalism.
NextElection is a “new town hall” that brings together politicians, journalists, and citizens, along with NGOs, news organizations, neighborhood co-ops, and boards.
Zolori is a blend of local news, events, civic organizations, and businesses, operating as an end-to-end SaaS platform bringing together audiences and local news bureaus.
Mojonomy is a global platform for citizen mobile journalists allowing for verified, on-the-ground reporting of all types of events. It also rewards quality journalism and content, allowing the best content to rise to the surface and for citizen journalists to get paid.
Chicken Soup News:
Chicken Soup News, or CSN, is a new media platform focused on positive change around the world. It aims to support the exploration of real stories of human progress and positivity in order to combat the negative news in the world today.
The PressCoin Token Sale
A total of 100,000,000 PRC tokens will be issued at a total valuation of $100 million USD.
This represents 40% of PressCoin GmbH, putting the projected total post-ICO valuation at $250 million USD.
PRC tokens are equity tokens representing an actual share of the PressCoin company.
The ICO begins on November 22, 2017 and will run for 28 days. 90% of the total supply of tokens (90 million) will be available during the crowdsale. The remaining amount goes to the founders (7%) and bonuses (3%).
Who’s Behind PressCoin?
PressCoin is led by Dr. Nafeez Ahmed (Co-Founder and Director of Media/Journalist Strategy & Editorial Curation), Gunther Sonnenfeld (Co-Founder and Director of Media Strategy, Revenue & Application Development), and Amit Rathor (Co-Founder and Director of Content + Post-Facebook Monetization Strategy).
Dr. Ahmed is an award-winning investigative journalist with a 16 year career. He previously reported for The Guardian and now reports for Vice’s Motherboard. He is also the CEO and founding editor of INSURGE Intelligence, a crowdfunded investigative journalism project.
Sonnenfeld is an internationally renowned entrepreneur, while Rathor is a serial entrepreneur and investor.
PressCoin aims to democratize the world of investigative journalism by rewarding the best journalists who produce the best content. It aims to combat the modern media environment and the rise of “fake news” – and the rise of people who discredit legitimate news agencies.
To learn more about PressCoin and the upcoming token sale, visit online today at PressCoin.com.