Musicoin Whitepaper

Abstract

Musicoin is a decentralized platform that leverages the power of blockchain technology in empowering musicians to take full ownership of their content and finances. Our platform is built on a transparent Peer-to-Peer network powered by programmable smart contracts to enable fair remuneration for all musical content and services. Our long-term vision is to develop an open ecosystem where outside providers can build music related goods and services on top of the Musicoin platform.

THE PROBLEM
The onset of the digital age in the 1980s allowed the likes of Napster to become a disruptive force in the recording industry. Peer-to-peer file sharing allowed people to pirate content online without legal implications. This caused a huge uproar amongst musicians because they were not compensated for their work, which ultimately forced the industry to adapt and embrace streaming technology in the early 2000s.

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Musicoin Whitepaper

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