Continue our 5W1H series, I introduce to you PO8.

Disclaimer: The information on this article is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. I make no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this article or any sites linked to or from this article.

What is it?

PO8 is a decentralized ecosystem built on the Ethereum network introducing a democratic system to the marine archaeology industry.

Screen Shot 2018-06-30 at 11.57.33 PM.png

Why is it there?

Because human's fortunes that worth billions dollars are lying undersea while people are struggling dealing with how to salvage them.

Why

Unfortunately, those efforts are being made one by one without any collaboration for a greater result. Meanwhile, the cost for each expedition could be millions and there are not many parties could afford that cost, making the industry an isolated golden island that hasn't been well-handled. Even when the some companies make it and return to the land with successes after their treasures hunt, the problem of selling them itself is a pain in the head. Most of the time they have to cut 12% to 20% of their valuable and difficult-to-get artifacts to costly middlemen for arranging the auction process.

Those problems are the reason PO8 is developed in this wave of blockchain technology.

How do they do that?

PO8 has a blockchain ecosystem involving the work of cultural heritage preservation, artifacts commerce as well as authenticity certification while allowing people around the world to participate in it.

How

Thanks to the security, transparency, integrity and automation of Ethereum smart contract, PO8 and marine archaeology participants can bind each other in an automatically self-executing agreement where one side play a role in the search and recovery of treasures by hunting bounty tasks such as sonar, magnetometer, geo mapping, historical records, weather patterns, video feeds and more in the Maritime Artifact Data System (MADS). Then they are compensated for their work by the other side. In return, the payer make the process work.

To ensure artifacts authenticity, the PO8 project proposes a blockchain artifact registry system called PO8 Historical Artifact Registry System (PHARS)

How2

Once recovery expeditions are done with treasures brought back from undersea, they could be safely, transparently and effectively commerced in PO8's Historical Open Auction Platform (HOAP) without the need of any middlemen. Especially, they have an escrow service particularly designed for governments, museums and non-profit organizations to register and authenticate artifact treasures to buy, sell and auction historical artifacts between one another.

Who're behind the project?

Led by Bahamian born Co-founder and CEO, Matthew Arnett, PO8 team consists of a group of remarkable people:

The project is also consulted by some famous names:

Where do they aim at deploying the project

Since the project is from Bahamas - the country that is well-known for its attracting islands, and more importantly it is supported by the Bahamas government, I think this country would be their initial location of application. But they will soon expand to other regions, their effort in raising the project's awareness around the world partly explains it.

Screen Shot 2018-06-30 at 11.58.22 PM.png

When does it happen + Token info

PreICO time: June 15th, 2018 - July 15th, 2018
PreICO Token Price: 0.01 USD
ICO time: August 1st, 2018 - September 30th, 2018
ICO Token Price: 0.012 USD
Token Symbol: PO8
Token type: ERCO20
Softcap: 10,000,000 USD
Hardcap: 30,300,000 USD
Total Tokens: 10,000,000,000 PO8
Tokens for sale: 6,000,000,000 PO8
Whitelist: Yes
Know Your Customer (KYC): Yes
County of Origin: Bahamas
Country excluded: USA
Token distribution:

Token Distribution.png