Music, that does not have any Boundaries, So why should the Artists?

yuvadeep (50)in #music • 6 years ago

Hello,

Music Crosses Boundaries

Some things are bound to happen and the same can be said for the way ‘music is broadcasted’ now a days. Distributed Ledger or in other words, Blockchain has never been a part of ‘Music Industry’ whilst Blockchain has taken things forward in other departments.

Hence, it was about time for the music industry to adapt itself to a system that ensured Musicians and Artists alike are compensated for what they have worked for. This system came into being because there are still many Artists or Musicians amongst us who have not had the chance to put forth their talent. For this, reasons can be many but at the end of the day, it is all about whether you are getting paid for it or not.

Perfect Example for Payment Methods

A few of us might have even heard of payment methods in countries that go together with Government Policies in order to pay Artists and Musicians on time. The best example for this one can be the United States’ SoundExchange program.

Based on similar lines ‘MFTU or Mainstream For The Underground’ has been made to create an ‘Open Source Online Royalty Payment Model’. To ensure that the payment method works on perfectly and is transparent to the users, Blockchain System turned out to be the foundation for MFTU and CyberFM collaboration!

What are CyberFM and MFTU together?

Together, CyberFM and MFTU bring in ‘Dual Token Ecosystem’, which in turn shall be payment method for the Artists and Musicians. Such a setup is going to be based on ‘Distributed Ledger System’; this is the most important part of MFTU and CyberFM association.

As stated earlier, there is ‘Dual Token Ecosystem’ and this system will be called ‘CYFM Token’ or the ‘CyberFM Token’ apart from the ‘Mainstream For The Underground’ Token or ‘MFTU Tokens’.

Things to Know : -

->MFTU Token would represent first Digital, Legal as well as Cryptographic Performance Rights Organization for the Independent Artists in the world.

->MFTU Token is responsible to protect besides payment to independent artists across the world.

->On the other hand, CYFM Tokens is from the house of Cryptographic Form of Currency for the Artists.

->At the moment, these CYFM Tokens are registered only with the ‘local representation’.

->Best example for local representation can be the SOCAN in the state of Canada!

->ERC20 has come in to play to represent MFTU and CYFM Tokens.

->Therefore, they are automatically registered on Ethereum Blockchain!

->And that is certainly good news!

At the end of the day, one must understand the simple fact that music has no boundaries so why should the payment system?

->Keeping similar views in mind, MFTU came into action to let the ceaseless souls continue their work on compositions whereas they need not worry any longer about being paid!