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INMUSIK: A Global Music Economy on Blockchain

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Cryptocurrencies is one of the most important inventions since the inception of the web. They are ushering in a new era of decentralization, privacy, and control of one’s own data that has the potential to revolutionize many parts of society. There are currently over one thousand cryptocurrencies in use, with hundreds more being released each year. Their combined market cap has grown from $10 billion in 2016, to over $400 billion at the time of writing, having previously been much higher. Only 1% of the world’s population own cryptocurrency. Companies involved with blockchain, the technology behind cryptocurrencies and altcoins are expected to experience significant growth over the coming years. Blockchain technology can solve dozens of previously intractable problems, like digital identities, supply chain integrity, data breaches and many, many more. The use of blockchain technology within society has been exponentially increasing since it was introduced to the world by Satoshi Nakamoto. The first use of blockchain technology was bitcoin. According to Gartner Insights, blockchain, the driving force behind the crypto market is estimated to grow in business value to $3.1 trillion by 2030. Inmusik platform is a fusion of concepts from music streaming and social media which includes community curation, verification and transparent payouts to both content owners and contributing listeners/fans. The inmusik use blockchain which is the fastest growing market in the world and the Sound coin token offers investors an opportunity to benefit from the growth in value. The age of blockchain technology is just beginning
Before I proceed lets take a look at this short video…
INTRODUCTION
Inmusik is an ecosystem based on a blockchain database that supports the music industry, streaming, and social interaction with cryptocurrency rewards and a financial framework on which future music industry applications can be built.
The platform is a fusion of concepts from music streaming and social media which includes community curation, verification and transparent payouts to both content owners and contributing listeners/fans. To enable a fair market economy for an industry built on all types of music assets requires a system capable of easily accounting every users’ contribution. Inmusik’s Token is the first cryptocurrency that attempts to accurately and transparently enable an industry to thrive in this new digital age, while rewarding its users for their subjective contributions to the ecosystem and enabling a host of applications not yet imagined.
ADVANTAGES OF INMUSIK TO THE MUSIC INDUSTRY
Being a fair and transparent system that enables the business of music to take place.
Being governed by the community so that the system is defined by those it provides value to.
Allows other 3rd parties to utilize the currency, platform and system to create new and more efficient solutions for problems not yet imagined.
Supporting the creative arts to ensure the creation of music thrives.
Increasing the music industry’s economy by opening up business in new and unrestricted ways.
ADVANTAGES OF INMUSIK TO THE FANS/LISTENERRS
Enabling fans to receive rewards for verifying ownership and the performers of newly added music
Enabling fans to receive rewards for curating new music (through their enjoyment of the platform) and directly control which content deserves attention from the community.
Allowing fans to consume music for free with consistent contributions to the community.
Receive a percentage of earnings by helping artists reach success milestones
IMPORTANT OF INMUSIK
To Artists
Inmusik is a fan creation machine.
To Fans
A place where they can earn rewards for discovering music.
To Labels
A frictionless source of generating revenue.
To Music Industry
A new way to conduct business that will drive economic growth.
PLATFORMS ON INMUSIK
  1. Tracking of Radio plays and manage payouts
  2. Tracking of TV/Movie plays and mange payouts
  3. Using AI to understand emotional connection users have with music
  4. Live music streaming of home concerts and arena concerts
  5. Music recording software leased/rented on demand
    based on usage time and exports
  6. Live ticketing solutions
  7. Ticketing security solutions
  8. Profit sharing on live events
  9. Merchandise printed on demand with simpler logistics
  10. Music education online
  11. Online mixing, production and mastering services
  12. Online music collaboration
  13. Copyright protection and usage tracking
  14. Review platform for artists / writers
  15. Blogging platform for industry professionals, producers, mixers etc.
  16. Virtual recording sessions
  17. Band matching by calculating fan overlaps for festivalbookings
  18. Location services for festivals
  19. Crowd funding for artists
  20. A range of music creation services
  21. A range of music financial services
THE ECOSYSTEM
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THE SOUND COIN TOKEN
Sound Coins are smart contract Tokens built on the ERC20 token standard. It is an integral part of the community as it provides a mechanism for financial transactions, conversion of rewards, and collaborations. Smart contracts enable us to facilitate a payment solution working flawlessly together with a decentralized trust and reputation system between parties via the blockchain. While our IC Token handles all peer-to-peer transactions where only the Inmusik system is responding to a user’s input, Sound Coin will be used for all manual transactions required in the business of music.
As a payment solution, the smart contract is the perfect tool to allow record labels to distribute and receive royalties, management fees, publishing fees, regional licensing and a long list of other payment types that are required in the business of music. Blockchain smart contracts are ideal for recording and facilitating the exchange of value, goods, services, and private data.
Putting music business data and transactions on blockchain smart contracts will increase the speed of service and save millions in reduced paperwork.
Blockchain based smart contracts provide accountability in a way no other technology can offer:
Provide an immutable ledger that offers permanent verification of every past transaction, building trust between everyone in the value chain
Store all product lifecycle events forever in an easy-to-retrieve system
Allow multiple apps simultaneously interact with any piece of information stored in blockchain
Facilitate peer-to-peer financial transactions across the globe.
Built on top of the proven ERC20 Ethereum blockchain will be a powerful, modular tool set to build applications that can track all royalty payouts (mechanical, public performance, synchronization, and print music), automate payments to all creatives and professionals in the music value chain, offer more secure ticketing solutions, enable software licensing for music creation, record the transfer of assets, marketing/promotion management, and a host of other applications not yet imagined. ERC20 gives users complete freedom to create their own applications on the Inmusik platform.
TOKEN DETAILS
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FUND DISTRIBUTION
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ROADMAP
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Q1 2018
Sound currency Presale. Bounty campaign. Times Media Campaing
Q2 2018
Sound currency Presale. Bounty campaign. Times Media campaign.
Q3 2018
Phase 2 Development. Implementation of virality. Issue sound tokens. Start Sound Wallet.
Q4 2018
Sale of main Token. Phase 1 Development. Product tests. Content deals with industry prathers.
Q3 2018
Phase 2 Development. Implementation of virality. Issue sound tokens. Start Sound Wallet.
Q4 2018
Implement minimally viable Inmusik test platform marketing campaigns.
2019
Launch functions in the transmission platform.
THE AMAZING TEAM
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For more information, please visit:
WEBSITE:https://inmusik.co/

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Author :phatpharm20 


Bitcointalk Username: phatpharm20 

Bitcointalk Profile:https://bitcointalk.org/index.php?action=profile;u=2038562

ETH Address: 0x1cff5da802703815aea69be79491c636369d0d1f
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