Crypto Currency, Music and Geraldton - Introducing SongCoin

Geraldton resident David Prince has an ambitious idea for the future of music. 

Not just music in Geraldton. Music everywhere. 

Ever since Napster and the digital revolution, individuals and companies have been struggling to find ways to distribute music and monetise the creative efforts of the artists. 

Nowadays, YouTube, surprisingly, is the number one place to get your music. It's easy to create playlists and free is a nice price for most people to pay. 

For those of us who like a little more convenience, services like Spotify, Pandora and iTunes are the ways to get our tunes. 

But some artists (*cough Taylor Swift cough*) feel that their current options for distributing music aren't as financially viable as they once were. 

David Prince's idea is to build a platform that allows music lovers to not only purchase songs, but purchase a share in a song's success.

This means that those who buy the song early have the opportunity to profit if the song becomes popular. 

David hopes to give music artists a creative way to raise money, allow music lovers to access the songs they want in a convenient manner, and let you profit from music you invest in. 

As the backbone for it all David has built a new crypto currency called SONG COIN. 

If you have heard of bitcoin, you'll have some understanding of what song coin is. 

Essentially it's a digital currency that uses complicated and mind bending mathematical techniques behind the scenes to prevent forgery and authenticate payments. 

Bitcoin is the internet's crypto currency of choice at the moment, but a large number of "alt coins" have emerged in recent years, usually with slightly different variables and characteristics. 

Google "what is bitcoin" if you want an education on crypto currencies. 

David Prince hopes that as usage of SongCoin grows, so will it's value, making it desirable for artists and giving him a way to fund the entire operation. 

To learn a bit more about SongCoin click here. 

(Note, the coin in the photo is not a coin, it's a clever looking USB storage device with Song Coins on it.)