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Potentiam Empowers Musicians through Blockchain Technology

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Potentiam
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The music industry has a long history of extracting every last cent from musicians, before leaving them high and dry at the drop of a hat. The record label stereotype is greedy and even blood-sucking, entirely out for themselves despite their existence to promote and support promising musicians. New blockchain start-up Potentiam is looking to change that. Their vision is to leverage the power of the blockchain to seize control and put it back in the hands of the artist.

Founded by the same group that brought us the music discovery platform Britznbeats, Potentiam is still in early alpha. Despite this, they attracted a test user base of over 5,000 artists – all eager to get started. Starting with music creation through decentralized applications, the platform goes all the way through licensing to public performance and venue booking.

A Blockchain Record Label

Potentiam’s ambitious roadmap involves supporting their artists at every level of music creation and distribution. To this end, they intend to create a series of modules that will replace every aspect of a traditional record label – starting with their digital production studio. Hosted as a decentralized application on their blockchain, the digital studio offers a robust suite of tools to musicians. All aspects of music recording and editing are available, as well as various operations for collaboration.

Once the music is complete, the program adds it to the catalog management system. Copyright is partitioned out to the collaborating artists, and all pieces within the catalog become available for sampling. If another user samples an artist’s song, the original artist receives a prompt for licensing rights. They can then accept or refuse on their own terms. After establishing their catalog, the artist can then use a full suite of modules to get their music out to new fans.

Complete Vertical Integration

The Potentiam distribution modules offer an entire array of options for generating income. The traditional pathway is through their digital distribution module. It serves as a gateway into traditional media services like iTunes and Spotify. It gives the musician the tools that they need to upload their music to these services. Revenue generated through these services routes directly back via smart contract and deposits into the musician’s account using the Potentiam cryptocurrency.

Should someone want to make physical media copies of the music, the physical distribution module provides that option. Manufacturers can license a user’s music for print on a CD or vinyl to create their own mixes. Often overlooked as a source of revenue, the sync licensing module opens the entire catalog up to those looking for background music and soundtracks. Through this module, users can grant licenses for advertising and secondary media. The public performance module creates a market for event and radio music. Finally, the booking agent module is a portal for venues looking to hire live bands.

Their Recent ICO Extension

Potentiam reached their ICO soft cap fairly quickly – generating almost three times that amount in the time since. However, they have decided to extend the ICO program for an additional month to get closer to their projected hard cap. Given the low price of Ethereum in the current market, this gives new investors a golden opportunity to purchase Potentiam. The development team, heavily invested in blockchain technology, pegged their PTM tokens to Ethereum. This means that PTM is at a significant discount for as long as Ethereum’s price remains suppressed.

Potentiam Solves a Persistent Problem

While everyone complained about the predatory practices of the music industry, Potentiam came up with a plan to curtail them. Their development team has set an aggressive timetable and delivered on their promises. Their artist base is already measured in the thousands, and that is just for the initial alpha test phase. The Britznbeats team brings experience within the industry and a history of discovering promising musical talent. All indicators suggest that Potentiam will succeed in their endeavors, offering investors a chance to get in on a big project early.

Potentiam’s extended ICO will end on April 23rd, and tokens can be purchased directly on their website at http://www.potentiam.io

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of U2start via Flickr

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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