Po.et announced today it is partnering with Maven (MVEN), a fast-growing digital media company architected specifically to serve independent publishers. Maven’s scale offers a huge leap forward for Po.et, which will now have the ability to receive and cryptographically sign data from Maven’s thousands of professional content creators serving 40 million users.
“Maven’s publishers will enhance the value of their content through our platform, building a digital fingerprint of their history and preserving their journalistic portfolio”
David Bailey, co-founder of Po.et and chairman of the Po.et Foundation said in a press release:
“This is our first big partner with significant scale. Maven’s platform and network of passionate independent publishers is a perfect strategic partner for us, not only because of their scale, but because of their already-built ecosystem of content creators. With the help of their world-class technology team, we’re looking forward to efficient collaboration as we explore the potential of our technology when put to use in a real-world environment.”
“Maven is a perfect fit because they are already architected toward the same mission and all of their content lives on a single database, with a unique ID tied to every content creator. Integrating Po.et will be straight forward.”
By creating an open platform on the blockchain — a decentralized public ledger of digital transactions — Po.et aims to create an immutable and globally verifiable ledger for the world’s creative works.
Tyler Evans, CTO of BTC Inc. and director of the Po.et Foundation said:
“Maven’s publishers will enhance the value of their content through our platform, building a digital fingerprint of their history and preserving their journalistic portfolio. One of the things that makes this so exciting for Po.et is the insight and vision about the publishing and media markets that Maven’s leadership team brings to the Po.et project.”
Po.et will provide Maven publishers with the ability to timestamp and validate their content and digital assets in an unalterable system which will automatically issue digital ownership certificates.
Using cryptography, Po.et gives both publishers and content creators the tools to automate the licensing process without relying on third parties.
Maven CEO James Heckman said:
“Integrating with Po.et advances Maven’s mission to empower independent publishers’ ability to own and control a sustainable financial future for themselves. By utilizing Po.et’s blockchain technology, our content creators will be protected from improper use of their content and ensure fair monetization.”
Board seats, investment and equity exchange
In addition to the technology partnership, BTC Inc. will invest in Maven’s most recent private placement transaction at $2.50 per share. Po.et will issue a warrant for an undisclosed number of POE tokens to Maven, Maven will issue a warrant for a like value of Maven stock to Po.et, and the two founders, David Bailey and James Heckman, are both joining each other’s board of directors (Maven and Po.et), in conjunction with the agreements.
The po.et (POE) price jumped up to 15% on todays news and was briefly in the top 100 cryptocurrencies as ranked by coinmarketcap.com.
What is Po.et?
In order to give you an idea of what Po.et is, it is important to understand what “Proof of existence” is, because POE is built with that at its primary utility.
Proof of existence is one of the NFU (non-financial use) blockchain technology – it is decentralized and allows users to anonymously store distributed content/media/not-yet-published or any metadata/document while NOT storing the actual content itself in the blockchain. This means that the data you want to verify exists but cannot be accessed by others while still having the ability to be verified. This makes ideal for creative individuals, or companies that seek to protect their work in digital format, especially for work that is published online.
What is Maven?
Maven (ticker symbol: MVEN) is an expert-driven, group media network, whose innovative platform serves, by invitation-only, a coalition of professional, independent channel partners. By providing broader distribution, greater community engagement and efficient advertising and membership programs, Maven enables partners to focus on the key drivers of their business: creating, informing, sharing, discovering, leading and interacting with the communities and constituencies they serve.
Based in Seattle, Maven is publicly traded under the ticker symbol MVEN. The executive team includes digital media pioneers James Heckman, Josh Jacobs, and Paul Edmondson, and technology innovators Bill Sornsin and Ben Joldersma. For more insight, including details of the company’s recent acquisition of HubPages.com, head to themaven.net.
Po.et’s Three Layers
The application layer includes the tools that users need to register content via Po.et and manage content ownership information. This generally includes all consumer facing apps like CMS integrations, content wallets, and most interfaces built on top of Po.et.
One major tool is the Po.et WordPress plugin. The plugin will make it possible for anyone to timestamp content from within WordPress, the most popular Content Management System (CMS) that currently accounts for 30 percent of the world’s websites. In this way, the plugin makes it easy for anyone who uses WordPress to register content onto the Po.et network.
Po.et will also provide a block explorer, which will work similarly to blockchain.info. Using the block explorer, anyone can easily search for content that is registered on Po.et, explore each work’s metadata and determine how content may be reused.
Po.et will also provide several resources that developers can use to integrate tools and services with Po.et. These tools will serve as the developer bridge between consumer facing applications and the Po.et protocol.
The most extensive of these resources is Frost, an open, RESTful API that applications can use to interact with the Po.et network without requiring private key infrastructure. We developed Frost in order to provide content publishers with an easy way of accessing the Po.et network and retrieving timestamp data using simple username and password credentials. Frost is an important component of our commitment to making Po.et not just reliable and secure, but also easy to use.
The protocol layer is composed of the technology that Po.et uses to connect to the blockchain, which functions as the backbone for registering and serving data claims.
The protocol layer includes Po.et Nodes, the software responsible for timestamping data to the blockchain. Time-stamped data is stored via IPFS. For a more in-depth overview of the protocol’s functions, read up on the Node here.
Po.et currently timestamps content to the Bitcoin blockchain, but we have plans to support additional blockchains in the future if necessary. We chose the Bitcoin blockchain because it has the most accumulated proof of work, which makes the most economically expensive public chain to rewrite.