KINGSLAND, Ga., Oct. 3, 2018 /PRNewswire/ — Mobile devices and the Internet have changed how music is broadcast throughout the world. Most countries enforce a royalty payment method via government regulation to ensure that musicians and artists are compensated for the use of their performances.
CyberFM has created an open-source online royalty payment model with peer-reviewed information available worldwide through a distributed ledger system. This is a dual cryptographic token ecosystem named as the CyberFM “CYFM” token and as the “MFTU” token for representing the “Mainstream For The Underground” product branding.
Co-founder James Tylee said, “We have accomplished this strictly with internal resources and without an expectation of profit: this growth in service offerings is tied to our core business without the need for third-party proceeds. The ability to hedge CYFM tokens has already been proven successful with paying required regulated licensing fees in the United States and Canada.”
Any online radio station can now use the CYFM crypto token, via exchanges, to pay regulating agencies in the United States and Canada through CyberFM’s network. The CYFM Token covers every online broadcast and protects every artist, equally. This is automatically compatible with any form of representation and current PRO membership.
“Every internet radio station can be fully compliant at a world-wide level with a decentralized environment, with the Philippines as our next point of progress. Personally, I think this is a historical feat, allowing governments to seamlessly accept blockchain solutions without their own investment,” Tylee continued.
Chosen over the years by leading A&R Firms, Recording Studios and Record Labels, CyberFM offers innovative services directly to listeners at absolutely no charge. CyberFM is now providing a permanent resolution to the “Value Gap” which is the biggest threat to the future sustainability of the music industry.