BitSpace is excited to announce a partnership with music platform SOUNDAC (formerly known as Muse), a blockchain-based system for autonomous royalty payments for musicians.
Similar to the way Bitcoin rewards its miners, and Steemit rewards its content creators, musicians are incentivized to connect their music to SOUNDAC. The music then becomes available on streaming services such as PeerTracks and DSound, where users can sign up and enjoy free listening without any ads or subscription fees.
Powered by a Delegated Proof-of-Stake (DPoS) consensus algorithm, the SOUNDAC blockchain issues new coins to the artists based on their popularity. This is a revolutionizing development for music creators worldwide.
BitSpace and SOUNDAC share strong roots in the BitShares and DPoS communities, and the Norwegian blockchain community was introduced to SOUNDAC when Founder and President Cédric Cobban presented the project at CryptoFinance 2017 in Oslo, Norway. With a strong position in the Nordic blockchain industry, BitSpace aims to give SOUNDAC a platform in the Nordics and help develop their community network.
“The Music industry has been ripe for disruption for decades, with services like Spotify offering only partial solutions to the industry challenges. Powered by blockchain technology, SOUNDAC is positioned to completely change the way artists are compensated for creativity, as well as the way that fans interact with artists.”
Manuel Lains (@spectral) – CEO, BitSpace
“Scandinavia has been on the forefront of the music industry disruption for a few years now. Meanwhile, hailing from Norway is BitSpace, which has positioned itself as, not only a leader in blockchain, but as specialists in all things DPoS. Nowhere else can you find a group of people that ‘get it’ as fast as their team. We welcome their participation into the SOUNDAC ecosystem with open arms.”
Cedric Cobban (@cob) – Founder, SOUNDAC
SOUNDAC is the open, shared protocol layer for all participants of the music industry. Whether they be creators, performers, composers, listeners, record labels or publishers. It is a new supply chain for all new businesses to build on top of and established players to integrate with in order to gain considerable efficiencies.
Bitspace is a Norwegian technology company specialising in enterprise consulting and application development within emerging technologies such as DLT, Artificial Intelligence and Digital Finance.