iMusify, the decentralized platform for streaming music

Hello Crypto lovers, this evening I would like to talk about a very interesting project: iMusify ( https://imusify.com/ ). The iMusify team has implemented an award-winning music platform that reinvents the global music industry to free musicians, music lovers and music entrepreneurs. In the rest of the article I will explain how. Follow me!

The problem

The digital age has transformed the music industry. Creating millions of copies of digital content now costs almost nothing. More songs are now just a click away from those recorded years ago before the advent of the Internet; and consumers now prefer streaming to downloads.Streaming services (see YouTube Music, Spotify) are on the rise, but instant access and the global nature of services have caused problems with digital rights management, payment transparency and content monetization. As a result, most musicians are not compensated enough, despite the fact that their music is appreciated by many more people. The $ 12 billion global digital music market requires a new solution, where musicians and record labels are paid equally! Do you want an example?

The solution

The iMusify platform offers a solution to current problems: it integrates the best practices of streaming, media sharing, crowdfunding and social networks to create an ecosystem where artists, fans and music professionals can interact with each other on a decentralized market . The underlying technology makes it possible to track the flow of content and smart contracts guarantee a fair and immediate payment distribution . Content is automatically reviewed to determine copyright ownership and digital identity tracking is used to prevent fraud.

A completely decentralized marketplace

The iMusify project is one of the pioneers of the decentralization movement for the music industry. Other blockchain music projects also show leadership in addressing certain inefficiencies in relation to event bookings and copyright management, as well as streaming services. Many use cases have been presented, suggesting to address existing problems.

Management of digital rights. The power of the blockchain offers the opportunity to create a complete digital rights management system that eliminates the need for reconciliation of latent payments.
Payment transparency. The blockchain offers different values added to the transactional procedures that occur throughout the music supply chain. With a comprehensive database of consumer content and verified users, the blockchain has proposed solutions to make automatic and transparent royalty payments, not only to individuals but distributed to their respective rights holders of a song.
Licensing and monetization . With a decentralized database of content and property rights, artists have the opportunity to grant licenses and monetize content in exciting ways. Even relatively unknown small artists will have a market where they can sell licenses for their work to be used in commercial videos, movies, live events and podcasts.

The iMusify platform is based on the NEO blockchain. The reasons for this architectural choice are briefly explained below.

Blockchain technology. NEO's blockchain allows automatic monitoring of content flow and IMU transaction execution, the currency of the platform through smart contract.
Smart Contract. Smart contracts are protocols that facilitate credible transactions between users without the need for a third party or an intermediary. iMusify takes advantage of NEO's smart contract to create a secure, democratic and uncensored platform.
Neo Smart Economy. Through technologies such as the P2P network (via TCP and WebSocket), digital certificates (smart contract NEO), fast transactions (support up to 10,000 tps versus 15 tps on the Ethereum network) and cross-chain interoperability (the NeoX patent), the NEO community is able to organize networks to manage intelligent resources in an efficient, secure and legally binding way.
NeoVM - Universal Virtual Machine. NEO uses a lightweight virtual machine with short startup times and low resource consumption, which will be used by iMusify to run smart contracts.
Token NEP-5. The proposal of an NEP-5 token outlines a NEK blockchain token standard that provides systems with a generalized interaction mechanism for Tokenised Smart Contracts. The iMusify platform uses the NEP-5 standard token to create IMU tokens, which acts as a repository of value and transaction vehicle within the platform.
Digital identity. Within a smart economy, digital identity refers to information about the identity of individuals and / or groups / organizations in electronic format.
Digital resources. Digital resources are programmable physical activities that, if recorded through a validated digital identity, are protected by law. By establishing a trusted association between digital resources and identities, users can register, negotiate and disseminate activities to conduct business.

Token distribution

The total IMU token supply is 1,000,000,000 and will be deployed in an attempt to maintain the long-term value of the iMusify platform and network, taking into account the underlying economic factors that can affect the profitability of a utility token. The token distribution is as follows:

65% of tokens will be reserved for sale, while the team will get 8% of tokens. The cost of each single token is $ 0.05. You can already subscribe to the WhiteList by connecting to the project website https://tokensale.imusify.com/ .

In conclusion, I can say that if the team meets the promises of WhitePaper, iMusify will surely prove to be a very interesting project. The idea of a decentralized streaming platform is certainly innovative and the idea of using NEO blockchain is a choice that will pay off! I invite you to deepen the project by reading the WhitePaper you find at the following link: https://imusify.com/whitepaper.pdf .

You can also try out by now try the iMusify platform at the following link: https://imusify.com/app . What are you waiting for ???

Following are the contacts and social platforms of the project:

Website: https://imusify.com/

Whitepaper: https://imusify.com/whitepaper.pdf

Facebook: https://www.facebook.com/imusify/

Twitter: https://twitter.com/imusify

Telegram: https://t.me/imusifycommunity

Medium: https://medium.com/imusify

Instagram: https://www.instagram.com/imusify/

BitcoinTalk (ANN): https://bitcointalk.org/index.php?topic=4327428.0

Author : Bitcoin demon
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