Music
When we talk music, we talk life, we speak life, we can as well say that music is life and which is not an exaggeration, to me music can never go wrong
It is a form of natural feeling that goes with all forms of expression. It is found in every known culture around the world with each culture having it's own unique style of music. Consequently, music may have been in existence for at least 50,000 years.
According to definition, music is a vocal or instrumental sounds both combined in such a unique way that produce beauty of form, harmony, and expression of emotion.
Over time, the way we listen to music have changed drastically with new inventions in technology, with some smart phones and internet devices which allows us to listen to our desired/preferred choice of music at anytime we feel like.
We've seen some talented people who take up singing and producing musics as a profession in which they get rewarded for their gifted skills and such people are called artists.
Taking a close look at today's system ans how things work in the Entertainment industry, it is no big deal that almost everyone wants to be a musician and that's cause of special music is to life.
The way we listen to music these days are in many ways such as smart devices with loudspeakers, we have portable headset with storage access that can contain as much music as possible with each own having it's capacity, the real deal we have are 📻 radio network, either the local or the online, with the local not really much of a big deal now, the online radio network are popping hot right now cause it allows us the access to unlimited and wide variety of music to choose from, but that would have been a thing of never ending joy if only it was free to access, most of the musics we listen to are often paid for so as to reward the artists. This point brings us to the very center of attention of the project we taking a look at in this write up, The MTFU project.
MTFU Project.
This is an open-source online royalty payment model with peer-reviewed information available worldwide through a distributed ledger system.
It is known as the "Mainstream For The Underground".
With the importance of music and how the internet have changed the way its is been broadcast throughout the whole world, most countries adopts a royalty payment technique through regulated government policies to see through that Artists and Musicians are rewarded for use of their skills.
An instance of such methods are Performance Rights Organizations or PROs, BMI, ASCAP, and SESAC. The collect songwriting performance royalties from music users and then pay songwriters and rights holders.
Like BMI and ASCAP, SoundExchange collects recording performance royalties for recording artists and labels whenever a music is performed publicly.
The MFTU Token
Just as the CYFM (CyberFm) token exists to regulate a complaint cryptographic form of digital currency 💱 for Artists that are currently registered with local representation such as the "Sound Exchange" in the US the MFTU is also alike but in represents "the world’s first truly digital, fair, legal and cryptographic Performance Rights Organization for Independent Artists. Protecting their rights and payments across the World".
It comes as a utility token, an ERC20 digital asset registered on the Etherueum Blockchain used to create this universal payment system that enables royalties to be collected for all performances, at all times, throughout all countries! The MFTU token will also be used initially to compliment fiat payments for online radio memberships, credits for in-app purchases and registration fees.
How it works.
The MTFU tokens adopts the use of smart contract using libraries from OpenZeppelin
this method which have been tested severely.
There are protection against attacks only store has passwords using bcrypt. The MFTU website runs on an encrypted SSL/TLS and have been thoroughly reviewed over by security engineers.
In A Wrap.
The MTFU Project is a project that is aimed at perfecting the way artists are rewarded for thier performance and to secure the payment process using the Blockchain Technology
Meet The Brains Behind.
To know more about this project, the following links should help.
Website
Telegram
Twitter
Whitepaper
Author: Toladnoah
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You have a minor misspelling in the following sentence:
It should be their instead of thier.Nice piece...very comprehensive
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