Monday, March 3, 2014

An AltCoin can be embedded into music and smart contracts pay creators what's not to love

So here we are in another one of those forks in the pathway of evolution and it's from technology specifically pathway -- cryptocurrency & altcoin. There are within them these new technologies protocol layers (think of metadata on songs )  which are being built into whole industries. by companies like Mastercoin NameCoin to name a few. All of whom use it's Bitcoin Protocol 2.0 capabilities that along with something new too. Smart Contracts and DAC's which are already changing whole worlds ~ not just industries.  So what does this have to do with my company.   Here's a great quote if you're in entertainment that you might want to follow the link.  
Who Will Be Affected by Distributed Autonomous Corporations?
"Smart contracts reduce mental and computational transaction costs imposed by either principals, third parties, or their tools. The contractual phases of search, negotiation, commitment, performance, and adjudication constitute the realm of smart contracts." Link 
All of this is monitored via Bitcoin's underlying Protocol (it's been online for over three years and it's still the unexploited)  This is done publicly via the proof of work via the Hash function and with total security via the blockcain which is best described by another blogger By Karen Webster, CEO, Market Platform Dynamics (@karenmpd)
"*. the blockchain – what many seem to think is the coolest invention of all time – makes it possible to have a public database that provides proof of ownership that doesn’t require a third party. The idea is that this cuts a lot of intermediaries out of the game.*" Link
Sites like Mt Gox didn't have updated software and it no different than banking, credit card or other data programs not being updated and certainly no different than Target's recent breach.  End of story 

Let's get to The future as described to me in by George Churchwell Tech2000's Co-Founder at Ingar Grev’s monthly Strategic Business Forum which I recommend folks to join in TysonsCorner  

Think of getting into your car and from your personal device the dashboard starts to interoperate and exchange information and payments and your not even having to click a button. 
This happens in part on a new concept something I'm calling the Fluidity of Currency. 

FoC is ability of currency to be accepated as transaction payment with least drag  on the mariginal utility of the value

From here we're off to the races via Distributed Automated Corporations which can be securely maintained, bill and pay creators; And enablers new industry based like CryptoMusicData that what provide interested parties with data that sings --really it does. 

The hows and whys consumers of choose one song or artists overs will slowly start to emerge from the fans just interacting with entertainment. Nelson Jacobsen (@sonofnels) ....

While this is a just glimpse into a use of the Bitcoin Protocol 2.0 capabilities to enable a content creator to make something- set it up in an #altcoin SongCoin or AltavozCoin and get compensated within the root framework of the created content. (That's a mindful) is a totally new era. 

This is simple Creators now have choice, for once, to participate and they better chose to adopt something that is already trying to adopt it. Seriously if you're in the entertainment biz and not trying to get a handle let payouts from this world then you're going to find yourself out of the game in before you know it.  

PS Get ready for the most important entertainment webinar since the announcement of the internetwork, which I was at too.