Since the advent of blockchain technology, new-age electronic recording and distribution systems have forced artists to lose out on their royalty checks as well as their pre-defined rewards. Not only that, consumers are now spoilt for choice since there are so many alternative mediums for digital content access available on the market today.
VOISE is an all-new blockchain driven platform that aims to address many of the problems that exist within the digital media/content industry. It aims to do this by cutting out the need for middlemen and by optimizing content management and delivery.
When looked at closely, we can see that the VOISE ecosystem has been devised using the popular Ethereum protocol. Additionally, via a decentralized model, this platform is able to provide users with:
A highly secure music sharing network
Transparent digital content distribution service
Unique streaming platform
Also worth mentioning is the fact that VOISE makes use of a business model wherein it shares 100% of all sale proceeds with the artist – charging zero commission or processing fees during the entire distribution process.
Similarly, the platform also ensures the financial benefits are passed on to participating artists in the form of reduced prices, thereby allowing musicians to access a host of incentives on the side.
Lastly, VOISE employs an easy to use interface that provides decent support for multiple cryptocurrencies as well as fiat assets. This makes the platform an attractive option for streamers who like to make use of digital assets and virtual currencies for facilitating their online transactions.
Overview of the service
The platform is based on extensive research related to the music industry.
The VOISE ecosystem is powered by its own native currency. These ERC 20 compliant tokens will serve as the primary currency for all transactions taking place within the platform.
Cuts out middlemen and intermediaries who charge hefty fees and take a big portion of an artist’s royalties.
VOISE makes use of smart-contracts to execute all monetary transactions.
The platform features a dedicated search engine that allows users to source content based on particular information such as:
An artists’ name
Genre of music
Playlists or the name of a song
Current revenue draw of the music industry
Additionally, VOISE also allows its users to discover new music via a dedicated module that is designed to help users find new artists as well as recommended digital content to their friends/ family with the touch of a button.
Other key features worth mentioning include:
(i) Top Song Lists– this list contains a detailed breakdown of all the top tracks of the month based on statistics such as the number of purchases, views etc.
(ii) Recommendations— as the name implies, this list is based on specifics such as:
Songs by an artist that are being listed and favorited by a large number of people
Similar content from the same genre or similar labels
(iii) New Releases: VOISE provides its users with a comprehensive list of all the latest releases that have been sorted by date.
(iv) Genres: the platform allows for the classification of content using a host of specific categories and criterion.
(v) Native Radio Service: the service will also come loaded with a Global DAO Radio as well as a specific-genre DAO Radio.
Lastly, when using VOISE, customers will have the option of creating a special profile wherein they will be able to store relevant information about themselves along with the added option of uploading and editing pre-existing data.
How it works
As mentioned earlier, the VOISE ecosystem is built atop of the favored ethereum protocol where it makes use of smart contracts. As a result of this, developers will be able to create binding legal documents that automatically get executed when certain predefined conditions are met.
Also, VOISE uses special contracts to maintain a detailed record of the artists and their listed albums, tracks so that when the time for revenue allocation comes, there is no problem with the distribution of royalties, remuneration etc.
In the case of tracks that have been created by multiple artists, the platform ensures the automatic distribution of revenue amongst all the members of the band (artists)– as per the predefined percentages.
As an example, if a three-piece band produces a hit record, the proceeds are distributed automatically amongst all of the band members in whatever percentage is designated for each individual. Similarly, Radio DAO, the native radio module for VOISE also implements a smart contract to rate the votes gained by each track based on the staking of each voter.
Other key operational mechanisms employed by VOISE include:
Music that has been uploaded by artists on VOISE will be indexed by smart contracts as a hash key. This key is a permanent, immutable record embedded onto the underlying blockchain.
Records of tracks purchased by individual users will be monitored using a specially devised protocol that will make sure that once a person buys a track or an album they can access it at any time without having to subscribe to any service by paying a monthly fee.
Through the use of a native IPFS system, artists can be sure that they are not subject to censorship or piracy related issues.
When issues of content discrepancies arise, the network is automatically alerted by a change in the root hash. This, in turn, triggers the platform to search for new nodes to maintain the integrity of records.
About the service
Andre Ledoux is the founder of this setup. He has been in the digital domain for over a decade and has also been associated with other high-profile startups in the past.
Similarly, Vikas Dhanraj is Chief Technical Officer for this venture. Vikas comes with a strong background in blockchain development and other specialized programming languages. He too has been in the tech industry for nearly a decade.
With the music industry desperately seeking new models for revenue generation, VOISE comes in at the right time to help alleviate many of the issues that are being faced by artists as well as record labels today.
With this platform set to disrupt the music industry as we know it, it would not be surprising to see VOISE rank amongst the top crypto services of 2018.