Global Radio Station Flat.FM Introduces New Cryptocurrency on the Minter Network
Nicholas Otieno Nov 19, 2019 04:00
Both at industry events and in the media, there has been an increased interest in the potential impact of blockchain technology. While debates regarding the adoption of the technology continue, a global radio station launches its own cryptocurrency to enhance its operations.
The latest update indicates that FLAT.FM launched its own cryptocurrency – FLATCOIN – on the Minter blockchain network. The global radio station is an electronic music streaming service, which brings together listeners and artists from all over the world. The announcement was made on Nov. 15 from the Minter Development Foundation.
Developing its own digital currency
FLAT.FM aims to use the FLATCOIN cryptocurrency in the following activities:
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Accept cryptocurrency payments for services
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Provide a 50% discount to subscription plans if FLATCOIN is used
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Pay all artists a particular fee each time someone listens to their mixes
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Enable organizers of events and parties to selling tickets globally, and guests to return the coins with no limitations
Choosing the Minter Network for its operations
The CEO of the radio station – Maksim Anisimov – said that for two years, they have been searching for a technology-driven approach of settling with musicians. But eventually, they have obtained a technological fundamental solution through the Minter blockchain network.
He further highlighted how the Minter network benefits their radio station’s online streaming operations, as follows:
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Instant money transfer to any location worldwide
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Low transaction costs which enable an efficient system for paying authors in their own currency
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Absolute liquidity enables artists to convert the cryptocurrency to fiat currency or instantly spend the digital coin within other Minter services
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Exchange FLATCOIN for other digital currencies through atomic swaps
Maksim revealed that all these advantages of the Minter-based network already have been implemented into the radio station’s streaming operations. Several other advantages would continue to be introduced into the future products of the wider FLAT.DIGITAL ecosystem.
Minter Development Foundation is a U.S company that supports the adoption and development of the Minter blockchain network. The Minter network allows organizations and individuals to create and manage their own cryptocurrency and exchange at a fair price with absolute and instant liquidity.
Image via Shutterstock
Image source: Shutterstock
