Songcoin Seeks to Cash-in with Alternative Currency for Music Industry

songcoin-233x238Evolver.fm’s Eliot Van Buskirk reports that the music business is about to get its own alternative currency, called Songcoin.

The alternative currency phenomenon is real, as weird as that might feel to those of us who would never consider shelling out cash for points to buy special pixels for that Farmville game we never really got around to playing. Bitcoin, despite the issues mentioned in the article link below, shows that alternative currencies can become quite real to certain people, which can then make them real enough in general, causing them to take on a value of their own outside the traditional financial system.

Assuming that this week does not mark “the end of Bitcoin” and, by extension, Bitcoin alternatives – or even assuming that they have been set back five to ten years as Mt. Gox fears — the music industry will get its own alternative currency next week in “Songcoin.” The general idea with Songcoin, said Franks in the exclusive interview, will be to lower transaction and international wire fees within the music business, and to bake in pecuniary features that make sense for the music industry such as the ability to offer special promotions, leave tips for artists, and, eventually, buy concert tickets and more.

Songcoin is administered by Pimovi, whose co-founder and CTO Kasian Franks previously launched Seeqpod and Mimvi. Pimovi is a subsidiary of the natural gas exploration company Chancellor Group, Inc., which launched a technology division early last year. Click on the link below to read Evolver.fm’s interview with Kasian Franks…

Author: Eliot Van Buskirk, Evolver.fm

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