Shanghai ranked at number 10 for ICO activity in 2017, but that isn’t a fair representation of how vital the city is in the blockchain world. One of the the largest Chinese blockchain projects, NEO, is based there, and a flurry of nonstop innovation has continued in its wake. With a strong talent pool, close proximity to other major blockchain hubs (Seoul, HongKong, Singapore), and local government initiatives to fuel business development, Shanghai is quickly cementing its dominance in the blockchain scene.
Primas — World’s First Truly Decentralized App
Primas is a Decentralized Trusted Content Protocol (DTCP) for publishing and verifying the authenticity and ownership of content. Created for High quality content producers, Primas is “a movement to bring quality, credibility and accountability back to the internet”. By using a proprietary rule set for examining and storing metadata related to images, text, audio, and video, the Primas protocol is able to ensure protection against plagiarism and piracy. This upgrade to the WWW protocol is essential to “bringing about an overall better and healthier Internet prioritizing quality over traffic”
With an avid interest in technology from a young age, Primas CEO Wupeng spent much of his youth reading Western literature and repairing computers. Working at Lenovo in 2013, he lead product development for a new web browser; this is where he met fellow geek and big data expert, Primas CTO Gan Lu. Together, their team used AI to push credible content to users, but found actual content quality played a minimal role in how information was distributed across the Internet. Things such as clickbait, fake news and plagiarized content yielded disproportionate volumes of traffic, thus generating more money for platform providers and perpetuating this system. Seeing credibility as a growing issue in an increasingly virtual world, the pair looked for a technical solution and Primas was born.
If there is one epidemic in online content we are all familiar with, its fake news. As recently as 2 weeks ago, photos depicting hoards of Hondurans and Mexicans on buses were used to stoke fears of immigration ahead of the November election cycle. In all of the cases, the photos were recycled from previous news events, often times completely unrelated, and dating back as far as 2012.
“I was an early adopter of the Internet, witnessing its evolution from a once magical place for creatives and the sharing of information, to it’s current state, a place filled with (often deliberately) misleading information and low quality content being driven by a few privately motivated players” says Wupeng. With the Primas Protocol, fake news can’t be faked as easily, as every image used in the network is detected. This same system not only protects against fake news, but also prevents plagiarism and piracy.
Today, Primas stands as one of the few blockchain projects with a fully functional product and growing user base. Users can download the application for iOS and Android and use it to read and publish high quality and fully protected content. Publishers get rewarded Primas Tokens (PST) for uploading their original articles, videos and images to the network, while readers can also earn PST for rating and sharing their favorite content with their friends. As of writing, the PST token is valued at $0.21 , putting the market cap of Primas Token at $11 million.
Primas also is sharing their protocol with other projects. As a layer 2 solution, other blockchains can benefit in connecting to Primas nodes, that can be operated by anyone staking enough PST tokens. This benefits the entire Dapp ecosystem by providing a secure and robust content network, protected from censorship and piracy.
As with any content ecosystem, getting new user adoption is the most critical component to growth, and Primas has started this cycle with a popular ambassador program across the world. You can find more details about the program here.