The elevator pitch …
PressCoin is the crypto-economy for the Free Press. Between the mainstream media and large Internet platforms, the citizens of the world have no credible sources of news, and journalism has been dying a rapid and alarming death.
PressCoin is a set of interconnected platforms for investigative reporting, elections monitoring, solutions journalism, local news and events, and citizen journalism.
How are you different?
Many have tried to fix the news and independent press. Here’s why PressCoin is different:
Decentralized and built on blockchain
Cryptocurrency for liquidity
Fiat <> Crypto bridge
Built-in mechanism for innovation via startup accelerator
For-profit, revenue-first structure (not an NGO, or open-source – straight opportunity for all players)
Why will you do well?
The fall of journalism has to do with the fall of advertising-driven business models in the news industry. Further exacerbating the situation is the rapid, widespread shift first from paper to digital, then web to mobile, then to social platforms.
In this increasingly fragmented experiential landscape, where everyone is monetizing eyeballs and attention, large social aggregator platforms such as Facebook have captured the revenue almost entirely. And Facebook is a technology company, built in the modern Internet era. Most of the news industry has technology that is in the way of the much needed transition.
PressCoin comes from a background of journalism yes, but successful technology entrepreneurship as well. Big data, AI, personalization, seamless data integration, these are all pre-requisites in this new post-Facebook world.
This combination of accomplished technology expertise, along with the combination of a new decentralized business model that benefits all, PressCoin can create the win-win ecosystem that is required to succeed.
— PressCoin (@realPressCoin) November 29, 2017
Where are you based?
PressCoin is HQed in London, and is registered as a PLC
When was the company launched?
PressCoin the company was launched in 2017. However, INSURGE, one of the flagship platforms has been publishing on Medium since 2015. Other platforms are in various stages of development, for instance, NextElection will have something to show before the year is out.
What have been your biggest wins to date?
We’ve got some of the top journalists around the world coming together to collaborate. News organizations, large and small, are reaching out to partner with the initiative.
Who are you trying to attract to your product?
Primarily, the platforms are targeted at the discerning seeker. Many large swaths of the Internet are fed up with the same type of shallow, surface-level conversation happening on Facebook and Twitter.
PressCoin platforms offer depth, civil collaboration and dialog, and the chance to find a community of like-minded individuals who are also seeking commonality and understanding, rather than an us-vs-them shouting match.
This community, targeted to be perhaps 10% of the world’s Internet population, is what PressCoin is going after. There is no interest in scaling to the size of Facebook – a tenth in size is more apt – with a much more focused set of purposeful platforms.
What tips would you give to others looking to build their business?
One has to build what doesn’t exist, and ensure it is the thing people will want. And communicate it to the world so they understand!
The most important tip in the world is – anything, absolutely anything is possible, and the only reason something doesn’t work is because you gave up.
Tell us about your team?
We’re a global team, spanning North America, EU and Asia. Some top journalists – Dr. Nafeez Ahmed and Barkha Dutt are examples – have come together to really see what might be possible if we co-create instead of compete. Similarly, we have top crypto experts, and also top Internet entrepreneurs on the team.
What are your plans for the future?
Apart from the initial launch platforms that are coming – Insurge, Zolori, NextElection, Mojonomy, and ChickenSoup.News, we will be opening up our startup accelerator program. PressCoin Labs will be working with HigherOrderVC to run this investment program, looking for innovative news/tech companies around the world to add to the ecosystem.
Also, the NextElection team is working on blockchain-based voting, allowing this important function to fully move into the digital age.
When the functionality of these platforms is combined with the structured information discovery and understanding features, along with strong collaboration features for strong community building, PressCoin is the way forward off the “generic” nature of Facebook/Twitter, et al, to more purposeful platforms for things that should matter so much more.
— PressCoin (@realPressCoin) November 30, 2017
What are your favourite tech gadgets?
My iPhone, my iPad, can’t wait for implants!
What tech gadgets do you wish you could use to help you?
Neural implants that allows the mind to control peripherals, and access information 😀
Anything else you’d like to add/we should have asked?
PressCoin is the first Coin that will be available to use via a crypto <> fiat bridge, right on day one! Once you have your NEWS tokens, either via ICO, or open market, or earned it on one of the platforms, you can literally walk into a coffee shop, or go online, and use it to buy normal things, as it will be freely convertible via CointypeX.com, and at near Zero fees!
How do people get in touch with you?
We’re always available at [email protected], on slack (can find details on presscoin.com).