A few days ago, Hearo.fm revealed to the public that they chose the distributed blockchain ledger designed by Hedera Hashgraph to build their new universal music streaming system token, known as the JAM token.
The music startup, Hearo.fm Inc plans to create a tokenized music ecosystem named tune.fm, which will allow contributing artists to earn money after users stream their content, while fans will also earn tokens through curating the trending songs on the platform.
About Hedera Hashgraph
Hedera Hashgraph directly solves the core obstacles that are preventing the mainstream or universal adoption of blockchain-driven public ledger technologies. These obstacles include regulatory compliance, stability security, performance, and governance. Hedera presents a unique consensus algorithm and data structure to deliver unmatched, top-notch mixture of safety and performance.
This platform along with the support of its community-centered governance council will open innovations with better stability, offer transparency, tools to allow opt-in AML and KYC as well as inter-industry expertise that delivers better governance for globally distributed networks and virtual currencies.
The target of Hedera Hashgraph blockchain platform is offering a distributed, public ledger where any interested party can create a flexible, efficient, secure and globally distributed app. It is for these reasons that Hearo.fm has chosen Hedera Hashgraph as its base since its technology allows it to deploy its music streaming services globally seamlessly.
Thanks to the low fees and lightning fast speed of Hedera’s apps, Hearo.fm is anticipating that it will develop a solid consumer app utility token, which will process millions of micropayments instantly for users who are curating or streaming music on its site.
Hearo.fm is an international music marketplace where independent artists can post their content and interact with fans. This music platforms will feature micropayments for both artists and fans via the Hedera Hashgraph powered JAM token.
According to Hearo.fm’s founder, Andrew Antar, the company settled for Hedera Hashgraph after an extensive review of similar platforms. He reiterated that Hedera’s platform was the only one that fitted with their technological requirements, especially the importance of supporting multiple instantaneous payments for its users all over the globe. He added that immediately a song is played on Hearo.fm, the artists who created the songs are paid promptly.
The Business Development head at Hedera Hashgraph, Jordan Fried, commented that empowering artists to guarantee that they directly gain from their content was an ideal application for their platform.
He said that the company was pleased that Hearo.fm’s the team had reached out to them to help them achieve their goal of creating the next level music streaming system that sits on Hedera’s platform and allows artists and fans to connect directly.