Baidu, China’s Equivalent to the search engine, Google, has launched a Token – Baidu-Totem-Token. 18. July has presented the company with the related White Paper at a press conference in Beijing. Used to be on a separate Blockchain, which will provide a Service to the validation and sharing of photos.
Baidu has developed Totem, a photo-Sharing platform, the authors should provide a secure legal management of your photos. For this purpose, the company uses not only its own Blockchain to ensure the immutability of the data, but also a Token. Further, Baidu announced that it will publish the used Blockchain application is the first in the company’s own XuperChain network.
Trade Token against photos
There are a total of four billion of the Baidu-Totem-Token. The annual rate of inflation will be 4.5 percent. So you want to encourage both individuals and institutions, original photos to upload. You have done this, validate the participating Nodes of the Blockchain, the originality of the images. Node to become a member you but only on invitation. To be able to elect, for example, third-party provider of photo portfolios and copyright protection organizations. The images are approved, the information is stored the images with a time stamp on the Baidu Blockchain. In this way, we generate verifiable data. In the case of a copyright dispute, this could be important, stressed the company.
The number of assigned tokens is determined according to the method of Validation of the quantity and the quality of the images submitted by a user. So, if you have controls many of high-quality photos, which could be validated, one obtains, accordingly, more Totem tokens.
But what can you do with these tokens? Here, Baidu holds, unfortunately, still somewhat covered. There will be various applications for which the Token can use, and also on the XuperChain network. Whether you can trade currencies in the Token but also for cash or other Crypto, is not yet known, but unlikely, since ICOs in China are still prohibited. Likely the tokens will not come out of the Ecosystem. Thus, Baidu does not seem to walk in forbidden paths.
For the first quarter of 2019 Baidu is planning an expansion of the platform. So you should be able to in the future also store other digital media such as Videos on Totem. This moves the Blockchain should be also Open Source.