Did you know 92% of the 26,000 blockchain-based projects that have been created over the last two years are now dead (a recent study by Deloitte)?

Wesley Graham, Officer at Blockchain at Berkeley, ICO Growth Consultant and Blockchain Speaker, made an in-depth research to dig out the reason behind this massacre. He figured out a set of Criteria to Consider When Deciding on a Blockchain Use Case to help projects to be in the 8%. This criteria is also handy for you when estimating if a project is worth of investment.

The checklist when deciding on a blockchain use case

According to the checklist, we’d like to analyze how it works on Primas goal of restructuring a valuable content ecosystem.

1. Does the Primas ecosystem involve a database?

Definitely yes, a database is always needed when distributing content and content related information online.

2. Will there be numerous users updating the database?

Yes. All of the users in Primas ecosystem are in fact updating our database by uploading/posting or sharing content as well as making comments.

3. Do these users need to trust each other?

Yes. This is actually what Primas is in aiming at — to create a credible premium content ecosystem. Primas incentive mechanism is also designed to encourage and maintain the trust relationship. Read more in “2 things you need to know about Primas”.

4. Are there problems caused by the use of a central/third party entity?

Yes. A central entity can be more easily tempered with which could potentially lead to a situation where one party could manipulate the information of the originality of content in favor of certain authors while discriminating others.

Having a central entity as the guardian of content is one of the major reasons that caused our current issues with low-quality content online. Primas evaluation system will determine what are high-quality content instead of by only one measurement of click traffic.

5. Do transactions depend on/interact with each other?

Yes. Every time a new piece of content is released it needs to be measured against the previously published content to determine the originality. Also, all of the users in Primas ecosystem participate in evaluating the quality of published content. Their each behavior like making comments, liking the content, or sharing the content are all counted into the algorithm of the evaluation system.

Conclusion: Yes, to restructure a valuable content ecosystem, we need blockchain.