Does anyone know more about Po.et? I’ve only seen one thread mentioning it directly and was hoping to find a review. Anyone HODLing it or avoiding it for any reason?
Hello, @iGMB. I’m new to crypto, just starting in December, but I have purchased some Po.et. I like it for two reasons. I think it’s a great idea to have a way to track ownership of creative information, and in a world of “fake news” being commonplace, we have a growing need for “proof of existence.” My second reason for investing is almost purely because of the name. I can’t not own Po.et, as a creative type myself. This isn’t a financial token and it may not go big, but it is so cheap that I didn’t think it would hurt to own a little bit and see what happens over time.
I’m learning a bit about Po.et here:
Hehe - made some easy gains at today pump
Wonder if any news around?
As a creative myself, and someone who deals with buying/selling artwork and provenance.
I enjoyed the following:
How I became Leonardo Da Vinci on the blockchain
It is incredibly honest of you to admit that you invest purely in the name as a secondary reason for giving them your money. That’s incredibly “bold”.
I’m very curious about Po.et technically, so why don’t we do some analysis here in this thread starting with reading the URL: Introducing Po.et: Digital Media & Blockchain Technology Collide
I like to start with what is the project trying to solve?
Based on the introduction, Po.et is trying to solve…???
Po.et wants us to, “Consider the movement of a PDF…”
Considered; Google Drive, MS Live OneDrive, and Adobe have all delivered excellent solutions to consider the movement of documents and unstructured data in general. These are centralized solutions today that provide very granular control over ownership.
Po.et uses the very common ICO/scam text regarding blockchain , “This can be extended to virtually any digital asset including, but not limited to, content licenses, supply chain inventory, and land ownership.”
But the same can be done with Oracle DB or MS SQL Server Enterprise DB.
It is nice to see they are using the BTC blockchain at least and did not think they had to create their own.
Po.et claims: “Moving beyond the concept of ownership and blockchain technology is the idea of an unalterable timestamp.”
Reality: Oracle DB or MS SQL Server Enterprise DB can also do the timestamp and do it faster than a blockchain, I don’t understand the need for open decentralization in this use case.
Is centralization a problem today? For example, Is a central authority like Adobe censoring content creators or stealing content without paying for it?
Po.et claims: “We like to think of Po.et as Proof of Existence 2.0 in that it aims to create an application ecosystem around the ability to irrefutably prove that a piece of work existed.”
What issue is there where the solution requires proving work existed at a specific time using an open blockchain that isn’t already being done with Oracle, MSSQL, or MySQL?
Here is where we finally get to the meat and bypass all the marketing bullshit, “Po.et generates a unique Bitcoin transaction with the OP_RETURN script. This opcode marks the transaction output as unspendable(sp?) and enables the hash output of a work in the message field. By storing the digest of a work’s metadata in the claim message, the document is effectively added onto the Bitcoin blockchain. Once the transaction has been confirmed, it will live on the blockchain forever.”
For those not technical enough to understand the implementation, the key part there is really the last sentence. I’ve worked with a lot of content creators and they are some of the worst at detailing or identifying their work. They are the type who you’ll find have a directory structure full of Adobe Illustrator or Photoshop PSD’s named like so:
design-you get the idea…
There will inevitably be mistakes entered into the BTC blockchain with this platform and we can’t forget, “Once the transaction has been confirmed, it will live on the blockchain forever”… BTC is immutable? Will Po.et have to fork or move to ETH/ERC-20 in order to save content creators from their own stupidity? How much can this project really ever be worth from this point of view? Do people really think that everyone is highly skilled at data entry and never makes mistakes? This is the type of idea where decentralization and an open blockchain simply do not make sense. Centralization can provide a layer of error control and/or allow for the use of a DB that is not immutable so changes can occur as they will absolutely be necessary once people start filling the blockchain up with more lemon party and goatse.
Thank you, @RedLineJoes, for your input. You have delved deeper into this than I did. I think my newness to the world of crypto swayed me into buying Po.et. It was my emotional buy. I don’t regret it. I am not out a lot of money. After reading your analysis and the link you provided, I can see the idea of proving artistic ownership on the blockchain needs further review, at the least, before it can begin to be implemented. Blockchain may provide solutions for many things. And, it may not be an adequate solution for many more things. In this area, perhaps it is not ideal. Thanks, again, for responding.