Primas: Restoring Health to the Internet
Primas was one of the blockchain startups that presented at the 2nd Chainers Meetup in Gangnam. Kitty Lan one of the co-founder and VP of Global business at Primas gave the presentation in front of blockchain media, investors, and startups in Korea. They have come to Korea in search of Korean partners that can expand their network in Korea. Primas is looking to bring quality, credibility, and accountability back to the internet in the form of a decentralized platform where people can openly share ideas and are rewarded for participation. They will use blockchain technology to restructure the relationship between content creators and their community.
What do they do?
Before getting to what Primas does. We need to understand the news climate we are in right now. Fake news is a term that just came into our vocabulary only a few years ago. Mark Zuckerberg recently had to testify in Congress regarding “fake news”. From this, it was clear that large corporations and money interests involved. Therefore how can you run a government with so much influence being inflicted on the media? Fake news has shown the world just how important information is. For Primas, information is key. They have set up a blockchain infrastructure to help authenticate our content.
Primas is reshaping the content market and to restore health to the Internet. Since we are living in the information age. Therefore how can you work or live in the information age if you can’t rely on your information? The Primas blockchain helps individuals in corporations to publish content, promote content, and also works as a transactional platform for content.
The Impact of Fake News on Companies
There was a famous story on the internet regarding Vitalik Buterin, one of the co-founders of Ethereum. The article said that Vitalik died in a car crash. Upon hearing the news a lot of people ended up selling their Ethereum. This lead to the price of Ethereum dropping, all based on fake news.
Currently, the main source of income of content creators is through advertising. Therefore a lot of focus is on the traffic that is generated. This is a problem because the top cause of traffic tends to be sensational content. Having a sensational story is viewed a lot more than a true story. Therefore content creators need something new, a new paradigm. They need a platform that is able to track and authenticate the stories in the content that is out there.
Primas has a system where your browser can have a link in it where it will know information regarding the author and the picture to send you alerts if they find something questionable. The system tracks the metadata, it tracks the metadata with the story and it attaches it to the story in the blockchain and it lives with it throughout its life. Primas will be great for authors, content providers, and people who have a problem with their content being plagiarized.
How does it work?
Primas takes the metadata such as publication time, author credit, reproductions, and listed resources. All of this is tagged to the story and lives with the story as it travels through the internet. The technology that Primas uses is called DTCP (Decentralized Trusted Content Protocol). They have a system in place that acts like a layer that lives over the internet and it evaluates the content and it also tracks the metadata.
Primas is also able to create a hash or a code for that particular story and it will live with that story for its lifetime so every story and every piece of content has a unique ID attached to it. When the internet first launched authenticating a story took a whole team of workers, now it is all automatic with the Primas system.
The Primas DApp connects creative people by building trust and rewarding the creation of and interaction with premium quality content.
The Primas Token (PST)
Primas uses the token to incentivize authors to create content and those authors will actually get paid. It is a reward to the creators of exceptional content, node operators and community members who engage and interact on the platform.