Titanic Explorer Joins Bahamian Start-up, PO8, Using Blockchain to Recover Underwater Artifacts

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Jul 12, 2018, 06:26 ET

FREEPORT, Bahamas, July 12, 2018 /PRNewswire/ --

David Gallo, one of the most respected Oceanographers in the world has joined PO8, a marine archaeology start-up company in The Bahamas utilizing blockchain technology to unearth billions-worth of sunken artifacts and treasures from Bahamian waters dating back to the Spanish Galleon treasure ships of the Spanish Empire.

American Oceanographer and famed Titanic explorer has joined a blockchain startup tokenizing the recovery and ownership of undersea artifacts in The Bahamas (PRNewsfoto/PO8)

(Photo: https://mma.prnewswire.com/media/717780/PO8.jpg )

Gallo, a 30-year veteran in Oceanography and formerly the Director of Special Projects at Woods Hole Oceanographic Institution in Massachusetts, will take on the role of Vice President for Exploration at PO8. His illustrious career includes serving as the co-expedition leader to create the first detailed and comprehensive map of the RMS Titanic and the successful international effort to locate the wreck site of Air France flight 447.

For Gallo, the idea of using blockchain for ocean exploration and re-defining ownership of recovered artifacts, is a turning point for the industry. "To me PO8 is the most exciting project to come along in decades," says Gallo. "It encourages the development of new technologies and techniques for undersea exploration and visualization. In doing so PO8 will accelerate the ability to locate, document, and protect the precious artifacts of Bahamian undersea cultural resources."

One unique product PO8 is introducing is the Non Fungible Token or NFT and it's PAZAR Marketplace. NFTs are created by using ERC-721 tokens on the Ethereum blockchain and represent digital ownership of physical assets like the underwater artifacts PO8 will be recovering. Each distinguishable NFT has a smart contract containing unique asset data cryptographically certified, confirming ownership of the physical asset. NFTs will allow for the the majority of PO8 artifacts to live on the blockchain and physically remain in the custody of the PO8 Foundation for continued studies by the archaeology community and to be exhibited in various museums worldwide, while the ownership of the asset can be from anyone around the the world. NFTs will be tradable on the PAZAR marketplace rolling out later in the year. PAZAR users will be able to buy, sell, auction, lease, trade and leverage their NFTs on the marketplace platform.

PO8 is currently in the middle of a token sale. PO8 is raising funds by selling utility tokens for future use of the PAZAR Marketplace. To register for the token sale, visit https://tokensale.po8.io/. Restrictions on certain countries apply.

https://po8.io/