GSMT; Music Set to Embrace Blockchain Technology
Ever since blockchain technology was created by the evasive entity or group of people known as “Satoshi Nakamoto” in 2008, which gave birth to the introduction of Bitcoin, now regarded as the mother of all digital currencies. Many individuals and/or companies (projects) have set thmeselves about upgrading or making use of the technology to further advance the human course.
The music industry is also set to see the introduction of blockchain to help solving one of the most major problems encountered by the music industry which is the issue of copyright. To overcome this situation; several music, video or livestream platforms are working towards a solution but most of them haven’t become quite as successful as expected unfortunately. This has led the GrafSound team to proffer a solution by utilizing decentralization through blockchain technology in order to help both the artists and the producers. Through this solution, the artists will tend to get the exact value of their products while the music followers can access the top artists without the need of a third party involved.
What does Grafsound stand for?
Recent statistics show that the ''Global Music Industry'' is expected to reach a market size of 47.721 billions of dollars despite maintaining an annual growth rate of 2.1% until the year 2020. GRAFSOUND was created with the sole aim of making use of blockchain technology to avoid the continuous series of setback facing the music industry ever since the era of streaming of contents started to unfold.
With the increased usage of the internet as the world continues to go digital in various aspects, nowadays it is clear to see that most songs we listen are downloaded from non-related websites which causes artists and producers in terms of reduction in rewards on effort and expense needed to produce their songs. To overcome this setback and its effect on the music industry in general, GrafSound team is set to implement blockchain technology to solve the problems plaguing the music industry.
KJ Kim, CEO of GrafSound known for his work on software systems over the years, and Kim ManHoo COO are now working to revolutionize the music industry with the objective solely to make music decentralized in all forms.
The GRAFSOUND platform is made to be easily accessible to both professional and upcoming musicians and also the music lovers. The platform will utilize the Ethereum blockchain to bring decentralization to the music industry while introducing its native token called as GSMT which will be used as reward, fees on the GrafSound platform. GrafSound mobile application will be launched before the end of Q2,2020. Artists will be able to record and upload their songs on the platform while music lovers can download or listen to their favorite songs and musicians at the same time. Also, the platform will make it easy to reach millions of people in just ''one click''. Another product set to be implemented includes the GrafSound TV which will be available to users after the launch of the mobile application.
These are only few features of GrafSound, with more features to be rolled out after the app launch.
Telegram Community for further discussion about project.
Whitepaper link if you want to learn more about the project.
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