In order to give you an idea of what Po.et is, you first have to understand what “Proof of existence” (I will refer to this as ‘proof.ex’ so not to be confused with the ticker symbol for Po.et, “POE”) is, because POE is built with that at its core, heart, and mind.
Proof.ex is of the NFU (non-financial use) blockchain technology – it is decentralized and allows users to ANONYMOUSLY store distributed content/media/not-yet-published or any metadata/document while NOT storing the actual content itself in the database or BTC blockchain. This means that the data you want to verify exists but cannot be accessed by others while still having the ability to be verified as to when exactly it was created.
Po.et is decentralized and allows for differing levels of privacy and anonymity without having to worry that your proof will be erased, counter-claimed, or modified by any third party. POE aims to simplify the process for licensing, verifying, and publishing digital assets while solving the major issues when dealing with creative work, from syndication to document integrity. Smart-contract functionality and apps distribute the work as well as bridge the gap between publishers and creators.
With Po.et, the idea of an unalterable timestamp by hashing certain types of data onto the blockchain is a remarkable feature. Fun note – this is what Satoshi Nakamoto did when he included the string, “The Times 03/jan/2009 Chancellor on brink of the second bailout for banks,” which was essentially there to “prove” that there was no mining of BTC before January 2009. And with all the digital content floating around, authors self-publishing through E-book format, the creation and distribution of electronic music, as well as EDM producers and contracts, et.al the real-world applicability for Po.et is practically limitless.
Note: As of Jan 4, 2018, Po.et Node 2.0 has been released (in beta) which builds on the current protocol. If you are interested in learning more about the Po.et project, we have a full guide with more information as well as details on their latest Node update coming soon.
How can you buy POE?
You first need to buy Bitcoin or Ethereum on Coinbase and then transfer it over to your account at Binance or KuCoin to exchange it for POE. For reference, check out our guide –Cryptocurrency Investing: How to Buy Altcoins. If you get stuck or need help, send us a message through our Facebook page or use our contact page and someone on staff will walk you through the process.