PRESS Token

1st Public Draft

Benjamin George, Founder/Curator, Crypto.Press & PRESS Token

benjamingeorge@presstoken.org

https://presstoken.org

ABSTRACT:

PRESS Token has been designed in the reflection of our current global state. Information drives our world in ways that very few ever even thought possible. Whether it's the financial data that churns our economic systems or the meme’s shared casually -- we connect through information. Unfortunately, this double-edged sword has begun to find its opposite side and now we have arrived at a point where we need something to change. The proliferation of fake news amongst other propaganda has crippled the world's trust and that is having very negative consequences throughout our society. Enter PRESS Token. What if there was an entire chain of events on the happenings of any informational piece around the world? See where it comes from, the edits, the copies, all of it? What if you combine this powerful source with the ability to hire and transact with people anywhere in the world to get a more local perspective? Accountability and decentralized immutability with a foundation to foster journalistic integrity. When the creation, dissemination, and proliferation of information becomes transparent it enables the greatest pattern recognition machine we’ve encountered across to do its job - our minds. Combined with decentralizing the editorial process, allowing a global network to emerge leveraging blockchain technology with some old school web, and a restoration of journalistic integrity through transparency we can begin to foster something new, PRESS token is the beginning of this new epoch.

  1. INTRODUCTION:

Historically with any sort of information source, be it a modern news agency or the original purveyors of magazines and newspapers there is a relatively large cost associated with the creation and dissemination of information. This is due to a number of factors but summed up by production, marketing, and distribution. From the concept to the hands of the readers this has traditionally always been a process self-restricted by these costs. PRESS Token creates the means technologically to remove much of the friction of this process by decentralizing the way information is created and disseminated allowing a trustless, free-market for information eliminating or minimizing all of those costs by leveraging blockchain technology, the web, and some novel ideas to create a novel environment for how we create, disseminate, and digest our information as a society

 Centralization itself is not bad, especially in regards to information, the more information contained in one place the better. As a race, we have spent generations recording information in various ways and without ways to store said information, it quickly becomes lost. Over time from oral traditions to written word, massive libraries, and currently, the internet. Access to information has always been restricted in a number of ways, centralization helped this, but then controlling access becomes a power struggle and a single point of failure. Both become massive hindrances to the dissemination of information and both arise seemingly despite intentions. Take Google: their effort to make the web searchable is a remarkable achievement on many levels, yet despite their best intentions and because of the nature of their position they make choices to decide relevance and directly impact people in a positive or /negative way. Let alone your conglomerate ‘news’ agencies or spam bots.

How do we move on from this? Transparency, Immutability, and decentralization. From the simple economics of the infrastructure and overhead is reduced to the cost of electricity and devices. It essentially is comparing apples and oranges.

2. THE  PROCESS:

3. INFORMATION PORTALS:  

Information Portals, such as  https://crypto.press - will be an open-sourced product that enables anyone in the world to view information from the Clear Net and PRESSNet in near real-time while simultaneously enabling people around the world to spin up a portal about their or any niche providing them a business opportunity while growing the robustness and reach of PRESSNet network.

Information Portals play a vital role in the dissemination & creation of content, but also enable entrepreneurs, journalists, writers, and media creators around the world to connect their passionate pursuits Via PRESSNet to define a new paradigm in the way the world gets informed.

4.  ARCHIVE NODES - MASTER NODES

Archive nodes serve an important role in the network. As the blockchain continues to grow there becomes scalability issues. The main function of the archive node is to create an economic model that scales with these resource requirements. It allows operators to ensure the integrity and longevity of PRESSNet without relying on altruism or indirect value.

5. MINING NODES

Mining nodes operate in a similar manner to bitcoin miners for more information see the bitcoin white paper. The PRESSNet algorithm will be sha256,. With the massive amount of hardware that has been built to mine bitcoin, it allows for an easy on-boarding to PRESSnet, which will remain profitable to mine with older equipment. This also drastically reduces the environmental overhead of PRESSNet and by extension bitcoin.

                        

6. WALLETS - NON-MINING NODES FOR MEDIA CREATORS

A non-mining node will be the most common node, it will allow wallet users around the world to create and market their creations via PRESSNet to Information Portal operators and be paid in a variety of interesting ways enabled via smart-contracts. This decentralized process allows an agile world-wide virtual network that connects operators with creators (and even editors) to enable an entirely new business model to the aging editorial processes of today.

                        

7. ECONOMIC MODEL:

PRESS Token has a unique economic model that enables

8. TOKEN CREATION:

The initial distribution of PRESS token will take place on the ethereum network with a standards compliant token for initial distribution after which the tokens will be migrated a new blockchain - PRESSNet.

Token Creation & Distribution:

 

ICO rounds: pre-sale and main sale

APPENDIX: a