GemmyCoin (hereinafter referred to as “GMC”) platform uses blockchain technology to store creator information and music data in a blockchain and enables streaming. This technology not only prevents piracy and information leakage, but also allows all right holders to check the distribution channel, access frequency, and royalty collection status in a fully transparent manner and be paid instantly. Consumers can choose creators to support their global debut, gain the opportunity to participate directly in the production of music, and receive benefits from such participation. To this end, we will create an ecosystem based on a new paradigm in the music industry, partner with the Recording Industry Association of Korea (RIAK) and Korean Broadcasting Actors Association (KBAA), and continue to develop collaborative relationships with additional partners.
Currently, blockchain technology is evolving past the early blockchain 1.0 era of Bitcoin, which only had a simple ledger function to record the movement of goods, and blockchain 2.0 era of Ethereum, which offered various platforms and possibilities using smart contracts, toward the blockchain 3.0 era of hyperconnectivity, a 4IR keyword, where a variety of data and content are introduced into ablockchain. GMC proposes a new paradigm in the music market, one in which the previously-mentionedproblems are corrected, under the GMC ecosystem name. Based on blockchain 3.0, the GMC ecosystem aims to create a virtuous cycle structure that leads to a reinvestment of the value created through the creation and consumption of content. For this to materialize, a number of technical challenges must be addressed.
Attention. There is a risk that unverified members are not actually members of the team
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