LOS ANGELES--(BUSINESS WIRE)--The Dreamchain Foundation announced today that its combined Dreamchain/Dreamstream Testnet has successfully been deployed and is securely streaming songs through the Dreamcoin Music app. Dreamchain Testnet is capable of registering one million end-to-end digital rights management (DRM) song transactions every 24 hours. Music industry participants can learn more by visiting www.GetOntheChain.org.
Dreamchain is the world’s first fully-functioning content streaming architecture that combines an immutable Stellar Consensus Protocol-based blockchain with a high-frequency Bitcoin Lightning activity journal to protect and properly manage royalty payments for creative works. Dreamchain includes the Dreamstream as a peer-to-peer (P2P) decentralized streaming content network to distribute artists’ music using end-to-end DRM and an integrated cryptocurrency payment system (the Dreamcoin token).
The Dreamchain project has been working in stealth mode since June of 2017 with the mission of igniting a creative revolution through a decentralized crypto-community united around its native token, Dreamcoin. The Dreamchain Foundation’s goal is to spawn a new ecosystem that values the precious gift of creativity by giving creators an open and uncensored platform for protecting, monetizing and distributing their works. In doing so, the Dreamchain forms a new crypto-community for creative works that incentivizes artists and creators to proliferate their works in partnership with miners who provide storage and streaming resources and rewards fans for engaging and consuming content over the Dreamchain network.
“We envision a world that is united and healed through the collaboration, proliferation and consumption of independent creative works,” said Mike Rubin, Founder of the Dreamchain Foundation. “By utilizing the blockchain’s immutable ledger and decentralized consensus ability combined with cryptocurrency’s ability to create new economic models, we can finally remove powerful authorities that for too long have either censored creativity or controlled the economic returns for creators, preventing many artists from realizing their dreams.”
The Dreamchain Foundation’s first creative crypto-community is focused on music. The music industry represents one of the most universal and popular art forms, as well as one of the most complicated in terms of digital rights and royalties. It also has been the center of the most controversial transitions from the analog to digital world and one that has left most music creators without appropriate compensation for their work.
Just two centralized companies now control music streaming: Apple (NASDAQ: AAPL) and Spotify (NYSE: SPOT). Musicians’ works have been used to create centralized businesses having substantial asset value as exemplified by Spotify’s recent public listing that resulted in a market capitalization of over $25 billion. Yet, the very musicians who created the songs that Spotify uses to attract and retain their subscribers have been left out of receiving any portion of the stock value to compensate them for their contributions.
With the advent of the Dreamchain network artists can now participate in both the revenue they derive from their works and their contribution to building a prosperous creative community that utilizes Dreamcoin as its currency.
The Dreamchain Foundation is welcoming contributions from all constituents in today’s creative ecosystem to assure that the Dreamcoin-based creative community will thrive. It is currently meeting with some of the world’s top musical artists, independent creators, management companies, record labels and publishers to build a coalition that better aligns with recreating the ecosystem to more fairly reward all participants for a more prosperous community.
Private demonstrations of the Dreamchain Testnet and the Dreamcoin Music app for the media, investors and music industry are available April 20th, 2018, at the ICO 2.0 Summit in Santa Monica (https://www.startengine.com/pages/summit). Contact Jennifer Perrone at firstname.lastname@example.org for more information or join the discussion on Telegram at t.me/dreamchain_foundation.