PO8- Solving Commercial Salvaging Problems through Tokenization
Wow, this is awesome, let’s welcome a platform that utilizes blockchain technology in decentralizing and handing over to the democratizing the marine archaeology industry. PO8 project is first of its kind, we’ve never had this kind before in history.
The planet surface according to experts is covered by about 70% water and the Marine sector being the world wealth hub with millions of undiscovered lives and resources beneath and it draws special attention. The government especially, really wants to get involved and take total control of the activities thereby making activities here rigid with high protocols.
About According to UNESCO report, about 3million numbers of ships are underneath the waters. This follows the numerous ships sinking routinely, one can be very sure that there are enough artifacts buried in our ocean floors to create a billion-dollar treasure hunting industry.
Now recovering these underwater treasures has become a challenge. These treasures though not easy to recover, but due the magnitude of profits attached, so many companies has shown interest, but the issue here is on getting these recovered, government and other interest group suddenly show-up and will want a piece, if not all of the prized treasures.
P08 introduces a more decentralized and inclusive approach to recovering artifacts. Individuals, rather than corporations and governments, will play a more vital role in the recovery, conservation, exhibition and ownership of these artifacts. Decentralization of the industry will allow millions more to participate in the experience and bear witness to history encapsulated underwater for centuries. What was once only accessible to a few can now be shared with eager enthusiasts all over the world. There are many people who have a desire to be part of marine archaeology that would never be able to without PO8. Accessibility to this once exclusive industry is now available to those with a genuine interest in recovering artifacts and history.
Here are major challenges rocking the Artifacts Commercial salvaging industries;
· Centralized Process of Auctioning
Because there just few recognized international auction houses like Christie’s which monopolize the auctioning system therefore causing salvage companies to loss 12 to 20% of the treasure worth in sales market.
· High Salvage Cost
Because commercial salvaging indeed requires the latest marine technology, so the commercial salvager cannot help but to take the services of best hands in archeology and oceanographer experts to lead the way. The cost involved in paying and maintaining these experts and sustain the entire team throughout the period of hunting has become a source of discouragement for beginners and other agency for actively getting involve this market thereby naturally causing monopoly.
· Finally, cultural Heritage Preservation has also played a major role in affecting the industry. Commercial salvagers in archaeology community are tagged as destroyers of cultural and historical relics all in the name of making money.
PO8 is no doubt the answer to all these problems. Considering the barriers in salvage costs, the PO8 came up with the great idea to use the foundation of blockchain and cryptocurrency as a way to open up salvaging to anyone with an interest.
First, PO8 creates smart contracts to enable any individual to participate in the search and recovery of treasures and be rewarded for performing bounty tasks aiding recovery efforts. Second, PO8 creates a blockchain artifact registry system ensuring authenticity of artifacts. Third, PO8 establishes a safe and transparent decentralized auction house ensuring responsible commerce of artifacts. This permits P08 to auction off a fraction of the recovered treasures and, subsequently, the open sourcing of the platform to anyone looking to create their own auction for high-end artifacts and treasures on the blockchain.
The PO8 decentralized auction house and this is not limited to only PO8 tokenized assets. As our contribution to the world of high-end and precious treasures, relics, antiquities and cultural artifacts, the PO8 auction house is an open source and scalable product living on the blockchain. This enables anyone looking to perform an auction to use the P08 auction house with nominal transaction fees compared to bigger commissions in centralized auctions.
PO8 understands the value of teamwork and aligning interests for the benefit of finding and sharing lost history with mankind. As part of PO8’s market entry strategy, PO8 has been working closely with the Maritime Affairs and Labour Department from the Ministry of the Commonwealth of the Bahamas. Through this relationship, PO8 has acquired an Abandoned Shipwreck salvage license.
The PO8 Token
Unlike securities tokens, PO8 and SILVER token holders will never receive any type of dividends or profit sharing. P08 and SILVER tokens represent future access to our DApps, and in no way, are they to be deemed as investments.
Reserve backed PO8 token
PO8 will set aside a portion of the treasures, such as gold or other precious metals, to the P08 Reserve. The P08 reserve will back the value of the P08 token, upgrading to a PO8 Stablecoin.
PO8 Platform is initiated and backed with professionals with unquestionable wealth of experiences. Our team believes in the disruptive power of smart contracts, and will dedicate significant efforts to make them effective in Commercial Salvaging industries. So with them on the PO8 project wheel, you can be rest assured that your investment is in the right platform.
Some of them include;
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