Musicoin delivers keynote address and showcases upcoming mobile app at 2018 MaMA Music Festival and Convention

FOR IMMEDIATE RELEASE — NOVEMBER 7, 2018
HONG KONG

On October 16–18, key members from The Musicoin Project’s global team convened in Paris for the 2018 MaMA Music Festival and Convention, where they showcased the world’s first blockchain-powered music streaming platform, unveiled their hotly anticipated upcoming mobile app, delivered a keynote presentation, and met with insiders, musicians, and the press all curious about Musicoin’s potential to re-shape the music industry.

The festival, which has attracted leaders, innovators, and emerging musical acts for the past 18 years, was an ideal fit for Musicoin, which hosts tracks from over 5,000 independent musicians worldwide. By bypassing intermediaries (which consumed 88% of music revenue in 2017), the platform awards artists 100% of their streaming royalties instantly and directly — with payouts guaranteed to exceed every leading streaming platform, including Apple Music, Spotify, and YouTube. For listeners, it presents the opportunity to support a more creatively sustainable musical economy — knowing that each and every play fully benefits the artist. Subscription- and ad-free, Musicoin also eliminates the burdens of marketing pop-ups, or commercial interruptions.

“We want to make the whole system transparent,” Musicoin’s chief architect and founder Isaac Mao said to Innocentia Agbe in an interview for Frenchweb. “I think (the blockchain industry) has a lot of myths and overpromises. We try to put our principle first, which is to serve the musicians and the listeners.” Launched without an ICO, Mao noted that Musicoin isn’t about “chasing the fast money.” “ We believe blockchain has advantages for bringing efficiencies and a new thinking model to remove the problems that hurt creativity.”

After spending countless hours over the past nearly two years communicating through online collaboration tools and phone conferences, some key members of Musicoin’s global team were invited to Paris to celebrate this significant milestone. Some traveled from as far away as Los Angeles and Hong Kong, including Pascal Guyon, a three-time Grammy nominee and Musicoin ambassador who shared his personal experiences as a musician using the platform while
speaking at the keynote presentation. He also demonstrated how he was able to integrate the open-source Musicoin blockchain to stream music within an educational video game he created. Pamela Hute — a French recording artist, founder of the My Dear Records label, and Musicoin’s director of communication — remarked, “This was a very important milestone for us. We presented our philosophy to the people and industry professionals, and received questions both from artists and listeners — some simple, and others very technical. Musicoin was the only blockchain project which delivered a keynote, which demonstrates both trust from MaMA’s organizers and shows how we’re perceived as truly disrupting and different.”

Mao believes that we have barely begun to realize blockchain’s full power. “Blockchain is not perfect. We need more development of upper-level technology, ethical frameworks, and also try to include the community to evolve the technology like we did for the internet itself. (In its early days) no one knew its potential,” he told Frenchweb. “We are at a very interesting stage where we can see how the hype will be squeezed out and how the useful parts will be left and eventually develop into a very useful vertical technology.”

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Musicoin (MUSIC) is a smart cryptocurrency and music streaming platform built upon the Musicoin blockchain. Musicians and listeners worldwide are encouraged to visit Musicoin’s official website at musicoin.org.