Join Our Mailing List
Friday February 03, 2023
Bitcoin (BTC) $23,473.29   Ethereum (ETH) $1,638.02
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Blockchain Technology

Centrifuge uses Ethereum to help Paperchain execute Spotify revenue advance

The customer was paid their August streaming revenue from Spotify 45 days ahead of their usual pay cycle.

Published by CryptoNinjas.net
10/02/2019
Centrifuge uses Ethereum to help Paperchain execute Spotify revenue advance

Paperchain, a music analytics/fintech company, has announced that together with Centrifuge, a hybrid Ethereum-based on-chain/offchain private by design protocol to connect the global financial supply chain, the successful advance of $60,000 USD in Spotify revenue to a Paperchain record label customer.

The transaction was performed live at DeFi Summit London on stage using Centrifuge’s Tinlake finance application and was originated in less than 30 minutes at a transaction cost of less than $3 USD and at an interest rate 80% cheaper than current revenue advancing solutions.

The transaction is an example showing how decentralized finance (DeFi) technologies can unlock the $100 billion in digital media revenue sitting in 90-day accounts receivable around the world. Record labels and artists will be able to access their streaming revenue faster without being forced into expensive lines of credit or predatory advance deals.

“This is a problem that record labels and artists have been dealing with for decades, and has only been exacerbated by streaming where revenue now pools at the platform level. By pricing the daily streaming data and connecting that to programmatic banking solutions like decentralized finance technology, we can build financial products that get media revenue to creators and other stakeholders at a fraction of the time and cost of traditional finance.”
– Paperchain co-founder and CEO, Daniel Dewar

Centrifuge

The components of Centrifuge are a collection of Ethereum smart contracts and a peer to peer network implemented on libp2p. Ethereum smart contracts are used for maintaining identities in a similar format to the ERC725 standard. There is a contract deployed to store state commitments and a standard way of minting NFTs from off-chain Centrifuge documents.

Centrifuge’s Tinlake application is a set of smart contracts that enables borrowers to draw loans against non-fungible assets, such as invoices, royalty payments or warehouse receipts. Anything that can be represented on-chain as NFTs (Non-Fungible Tokens) can be financed using the Tinlake infrastructure. This is done by issuing an ERC20 token, the Collateral Value Token (CVT), against all of the collateral NFTs that are deposited into the Tinlake contracts.

“This pilot is validating our mission and demonstrating how Centrifuge Tinlake can be used by the creative industries to bridge payment gaps. We see the potential in offering financing for a wide range of asset types that can serve the music industry as well.”
– Lea Schmitt, Centrifuge Product Partnerships Manager

The transaction details can be viewed on Etherscan.

27
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

Blocknative, a real-time Ethereum (ETH) infrastructure platform, has newly introduced features including transaction bundle send, cancellation, and replacement support for the Blocknative Builder. Searchers can now submit MEV bundles privately to the Blocknative Builder...

Read more

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange. Headquartered...

Read more

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages...

Read more

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform. This new partnership for GenTwo Digital allows all Coinbase crypto...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy