Nafeez Mosaddeq Ahmed
9 hrs ·
We are launching PressCoin (www.presscoin.com
). A new cooperative crypto-infrastructure for participatory independent journalism. We're going big. We're not about creating just another alternative media thing in the midst of a sea of impotence, clammering for attention. We're creating an ecosystem that will put us in a position to, literally, take out our competition. The right-wing * at FOX? You got it. The faux liberals at The Guardian? Yep. And guess what. It's going to be owned by *you*: because every PressCoin token represents a real share in the company, and its value is backed by the assets of the entire system, including all our revenue streams (based primarily but not exclusively on subscriptions). We are going to be the first major people-owned media co-op on the planet.
So cryptocurrency and the blockchain may well all seem like a foreign language to some you. It was to me a while ago. But it's also in some ways quite simple.
The blockchain offers us a programming code that allows us to automatically track all types of participation in our media platform(s) on a 'distributed ledger', from which this record of transactions and interactions can never be erased.
It also allows us to create a cryptocurrency, a digital medium of exchange, to capture the value of these transactions and interactions.
By using crypto in our revenue model, we are transforming how we fund journalism. So as we grow our readership, our subscription-base, etc., the total value of the PressCoin token also increases. It's a real asset-backed crypto.
And that value is distributed back to subscribers and participants based on their activity that contributes to the platform - insightful commentary that contributes to the body of intelligence we're building, for instance; analysis/tips that generate new journalism; conversation that cultivates real-world actions; actions that create real-world projects meeting civic, economic, ecological needs. So you will earn PressCoin for active, positive participation.
The blockchain allows us to code in what sort of participation we want to incentivise, and what we want to disincentivise, and have it all work seamlessly. And ultimately, any PressCoin you earn will be usable in the real-world based on our Cointype exchange, which enables zero fee global exchanges between fiat and crypto currencies.
Pre-sales are now open, but the main fundraise - known as an ICO (Initial Coin Offering), in which we are creating and distributing our tokens - launches on Dec 22.
And you can participate right now. We've created a unique bounty scheme where people can invest in purchasing tokens (right now the minimum has been placed at 25 tokens equivalent to $25) - and can literally earn back their investment by participating in promoting PressCoin on your social networks - so liking, tweeting, sharing, etc.
We've created a channel on Slack where you can get involved, and post up links/screenshots/etc re: your activity to redeem the bounty:
https://presscoin.slack.com/join/shared ... mI2ZTdiMzc
If we succeed, this is going to be the single biggest media ICO in the history of the planet. We will be in a position to completely, utterly, change the media game by the end of January. And we will begin to move rapidly into building the new information-action infrastructure that translates real information into the cultivation of action and distribution of resources, to the extent that is possible, contributing to more resilient communities with self-sovereignty over their own food, energy and water.