SEOUL, South Korea--(BUSINESS WIRE)--In 2018, the wave of innovation and entrepreneurship in blockchain is surging, and entrepreneurs from different backgrounds flooded in. But most projects are still in the air with a long way to go. However, a steady and strong private industry chain is bound to be launched!
PR Chain is determined to be the world's largest open media platform
Targeting media industry as a breakthrough point, PR Chain is formulating a set of community autonomous incentive mechanism that is compliant, reasonable, fair, just, effective and innovative. Their goal is to build a fair and just, open and transparent media credibility system through rewarding media content creators, value transmitters and recipients of content with largest incentive. They are also committed to build the most trustworthy media credibility index, the PR-INDEX.
Global media industry today is characterized as news-oriented. Nevertheless, the industry is scattered as many media institutions fighting for their own island, therefore trillions of media industry output is broken down to multiple platforms.
Problems with Traditional Media Industry:
1. It is difficult to confirm and protect media's ownership rights.
2. The low reliability and security of news.
3. The plunder of user's privacy and media value.
PR Chain Reconstruct the Production Relationship of Media Industry with Blockchain Technology
The nature of blockchain lies in the transformation of production relationship and trust relationship. In media industry, revolution that is most likely to take place is the reconstruction of production relationship.
The PR chain enables large-scale media sharing and open platforms that can access massive Apps and massive media through technologies such as smart contracts and distributed media libraries. The main features of the PR chain include: fairness, transparency, openness and autonomy.
Tech Support: Synereo, Israeli Top Company in Decentralization
Different from other blockchain projects that are in the air, PR Chain's core strength is that it is easier to apply based on existed massive users and media resources on Synereo platform, which has developed a decentralized open source social network.
The Synereo network operates without a single central server or data center. When a user supports this distributed network using personal device, the network will compensate for the user's contribution to storage and computing power.
PR Chain has completed four major incentive models, and its token is expected to be listed on exchange soon
Under PR Chain project,four models for blockchain media have been successfully completed.
Value Transmit Incentive Model:
Economic incentives stated that how everything is set behind attention economy using Synereo's application public chain and AMP attention economic realization tools, which allow users to cash and invest in content transmit with attention economy.
After joining the PR Chain, users can create or share high-quality content in social community using PRZ. Any user can initiate PRPUSH amplification chain through sharing content with PRZ.
Advertising Suspended Incentive Model: PRAD
PRAD provides suspended advertising incentives based on PRPUSH. Considering the PRZ value and the advertising budget, PRZ determines autonomously the allocation method, number of PRZ, number of people, initiating time and suspension period. Users can receive the reward set by advertisers through actively receive advertisements within required time.
Content Autonomy Review Mechanism: PRVOTE
PRVOTE Content Autonomous Review Mechanism is a consensus agreement on information management in distributed business system. It is a pioneer mechanism in media industry which can only be put into practice and operated smoothly in PR Chain ecology.
Media Credibility Index: PRINDEX
Authority departments do publish online media credibility survey reports from time to time, however, there is always a lack of data for sufficient dimensions and evaluation.
The complete system of PR Chain employs big data, AI and other technologies to collect data of various dimensions to establish a more scientific evaluation system.
Description of PR Chain Token and its Usage
• Token name: PRZ
• PR Chain's revenue and repurchase instructions have been completed
• The goal of PR Chain is to reshape existing media ecology and promote the launch of PRINDEX Media Credibility Index.
• In order to protect all participants, PR Chain will repurchase PRZ regularly. Part of the repurchased coins will be placed in the PR Chain foundation risk control mechanism. Also, considering how the ecology develops, board of director of the foundation will vote on whether to destroy some PRZ to maintain a stable circulation value.
• Scheduled to be listed on exchange on 15, August.