CyberFM Brings New Use Case For Distributed Ledger Technology, Debuts New Token

The dawn of the Internet and the rise of mobile devices has changed how music is broadcast across the globe. Now, CyberFM brings the power of blockchain and Distributed Ledger Technology to help ensure artists receive their royalty payments as compensation for their performance.

CyberFM Radio

In a press release published by PRNewswire on October 3, CyberFM announced they have created an open-source online royalty payment model with peer-reviewed information available worldwide through a distributed ledger system. The platform also debuts the firm’s token, the CYFM and MFTU tokens, respectively.

CyberFM Co-Founder James Tylee said in a statement that:

“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.”

CyberFMOnline radio stations can now start using the CYFM token via exchanges, to pay regulating agencies in the United States and Canada using CyberFM’s network.

Tylee continues to talk about further plans from CyberFM, stating that:

“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.”

Interested in other blockchain innovations and the latest in cryptocurrency news? Head over to our cryptocurrency news site for more.

Summary
CyberFM Brings New Use Case For Distributed Ledger Technology, Debuts New Token
Article Name
CyberFM Brings New Use Case For Distributed Ledger Technology, Debuts New Token
Description
The dawn of the Internet and the rise of mobile devices has changed how music is broadcast across the globe. Now, CyberFM brings the power of blockchain and Distributed Ledger Technology to help ensure artists receive their royalty payments as compensation for their
Author
Publisher Name
Ibinex News
Publisher Logo

Related Cryptocurrency News