FOR IMMEDIATE RELEASE MAY 21, 2018
The world’s first blockchain-enabled music streaming service is offering a new glimpse into its future. The Musicoin Project’s 2.0 roadmap outlines key strategies and touchpoints it intends to implement to help overhaul the landscape of the music industry.
Musicoin’s aim is to become the leading platform for independent musicians to release their work while maintaining both full ownership of creative licenses and 100% of streaming royalties. Roadmap 2.0 reveals insight into the project’s development plan as Musicoin strives to grow into not only a household name, but a global leader in the new music economy.
The roadmap, visually presented in a subway map-style format, uses different colors to designate areas of development: Blockchain, Open Platform, Mobile App, and Musician Community. Market cap estimations are also included, but are essentially projections based on achievements satisfied by completing deliverables.
Blockchain (blue line): After successfully implementing the UBI fork and MCIP-6 fork, the MUSIC blockchain is becoming more robust and sustainable. Once the Ice Age difficulty adjustment is executed, Musicoin research and development will focus upon a Proof of Sharing (PoSh) algorithm, as described in its blockchain roadmap. Additionally, more resources will be committed to the development of the Musicoin desktop wallet to create musician marketplaces — presenting the opportunity for merchandise and ticket sales — and the establishment of a global payment gateway between different currencies.
Open Platform (Yellow line): Musicoin is working with several partners to develop value-added services and applications based upon its platform. Plans to open the Musicoin API to developers globally will dramatically scale blockchain-enabled music delivery. In time, this will also include robust mobile applications, video streaming, and IoT utilization.
Web app (Cyan line): The Musicoin Project is actively working on the user experience of its web platform to make it the premier destination for independent musicians to stream, license, and release their music around the globe. Voluntary options for download, sync, broadcast, and cover licenses will offer artists new ways to monetize and extend the reach of their work. Additionally, further development of programs supporting community engagement and non-profit organizations will help use the power of music to improve the world at large.
Musician Community (Orange line): Musicoin has attracted over 4,000 artists to its platform since its inception in February 2017, thanks in part to the combined efforts of its Global Ambassadors — musicians living around the world who actively promote the benefits of blockchain technology within their local music communities. Targets have been set to 20,000 artists hosted on the platform by the end of 2018, and 1 million by 2020.
Although the roadmap was developed by The Musicoin Project’s team, its vision is a joint effort of an ever-growing community of artists, engaged listeners, and partners. Musicoin Project’s founder Isaac Mao says, “This is rooted in the musical nature of all people — including creators, performers, aficionados, and fans around the globe. This roadmap offers a clear path of creative work that aims to give back to each of them.”
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.
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