Is Tao Blockchain the most advanced cryptocurrency out there? When Bryce Weiner coded it back in 2016 he looked around at the available code he could draw on from the full Bitcoin diaspora of alts.
He picked and chose the best features available and even added one or two of his own design. He made Tao the “Swiss army knife” of crypto – utility and flexibility for many potential use cases.
Earlier this year, Michael Finny – @MDF_365 on Twitter – interviewed Bryce Weiner on a range of topics. I’ve edited the interview down to concise segments to make it easier to digest.
In this one, Bryce explains how other music crypto and blockchain projects trying to either disrupt or work with the music industry are just doing it wrong, and why how the common approach simply can’t work.
References the Bitcoin Cash BCH fork & more
In this segment, Bryce Weiner talks about the similarities between the music industry and crypto. He draws parallels between hit records and popular cryptos and between music artists and crypto developers.
The brand of a cryptocurrency forms a lot of its intrinsic value, so when an artist brings their brand to a coin, they infuse it with the value of their personal brand.
Dogecoin has consistent demand and value because of the doge meme.
Not that long after Doge hashed its genesis block, another meme coin launched: Coinye West
Coinye coin was not authorized by Kanye, so he threatened to take them to court. This essentially set a precedent which helped lead to the artist token offerings like ODBcoin.
In this segment of the Michael Finney interview, Bryce Weiner discusses his business partner Peter Rafelson.
One of the first reasons I started taking Tao seriously back in 2016 was when I learned Bryce was working with Peter. He’s the son of legendary director Bob Rafelson, and was the original composer of Madonna’s song “Open Your Heart.”
This led to a multi-decade career in the industry, including artists who record and mix albums in his multi-million dollar media studio:
In the video above, Bryce mentions a Billboard Podcast with the Peter Rafelson interview. You’ll find the link below. In it, Peter tells the story of how he pretty literally broke into the music industry, launching his career. The interview starts about 30 minutes in.
There are a number of cryptos out there that want to “disrupt” the music industry, or seek to replace it in some way. Tao and FanMix are designed to work with the existing music industry instead of in opposition to it.
Having Peter Rafelson involved brings deep connections to the music industry and Hollywood. That makes the business model more likely to succeed. And that’s what told me back in 2016 that the coin had a greater chance of success than most alts.
You can find out more about Peter on his website as well as the Rafelson Media website
In this interview segment, Bryce Weiner explains how FanMix + AltMarket allows artists to pre-sell albums to raise money. FanMix is designed to help artists vault over the money barrier that keeps them from succeeding.
And it does it without taking any song rights from the artist in the process.
Fans pay with dollars (other traditional currencies coming), artists earn dollars. The referral system pays out in Tao. If the artist raises more than $10K then they’re issued their own cryptocurrency which only can be bought or sold for Tao.
But none of this requires the fans to be familiar with crypto since to them it just works as artist rewards points. Crypto mass adoption requires this just like any other technology – no need for the average person to understand how the tech works. It just does.
Here’s an article Bryce posted recently which goes into more detail about how artists (and fans) can create passive income using FanMix and the referral system
In this interview segment, Bryce Weiner talks more about Tao, AltMarket, and FanMix and the crypto referral system. He also discusses how officially licensed Wu-Tang crypto ODBcoin was the pilot program which launched Young Dirty onto the national stage.
FanMix artists will be able to pre-sell their albums and sell other merchandise on FanMix, while their fans can make money by referring people to the site.
After that first Bitcoin pizza OTC trade created the first market for cryptocurrency, it didn’t take long before the crypto markets were largely driven by speculation, hand in hand with things like dark web use and money laundering.
Enter FanMix + TAO + The AltMarket
Now we’ll get to see what a new and better crypto model looks like: music fans pledge money, buy albums, and buy merchandise on FanMix and TAO is purchased automatically off the USD market.
Automated buy support of Tao, a fully regulatory compliant cryptocurrency eliminates the need for speculation to drive price. Yet it eliminates the link with criminal activity that creates a risk for individual as well as institutional investors, which means traders can trade it with less risk than most of the popular cryptos of the past.
So this elegantly transforms cryptocurrency into a sustainable growth model instead of unstable bubbles, while surpassing one of the chief hurdles to the mass adoption of any new technology: making it so the general public doesn’t have to understand it to use it.
Once this all is in motion towards the end of the year when the first band is unveiled, just watch and see where we’ll be in six months, let alone the end of 2020