Moosecoin: an in-depth interview with the Moosty team

By on February 17th, 2018 in Projects

Hi! Can you first introduce yourself?

Hi, we are Moosty, an ecosystem for musicians of the future. Our ambition is to empower musicians with a system that works in favor of being the creator of the music. Currently we are creating a decentralised organisation for musicians to cover for every aspect of a musicians’ career; from start to finish.

We would like to be the most used platform facilitating new musicians and all ecosystem partners around them. The total platform will be called “Moosty.” The total ecosystem will contain more than one service and more than one Platform.

Who are you, what do you do/what are you working on?

Musicians create assets and currently they register them in an old fashioned way. So, we do not only create a new asset class, but we also automate the whole registration – and in the future the payment – process. Actually that will be our first aim, to automate the life of administrative hassle for them.

To start, we envision an easy registration of ownership rights for every musician – a 
decentralized storage. An easy way to get insight into these rights – transparency. Every participant in the ecosystem gets his fair share – fair distribution. We envision ease of transactions, almost instant payment provision – ease of payment. We put the musician in the centre of the industry again.

What is your team’s background?

We know each other already a long time. So, we started out as friends and family. It is probably the reason why we are already working together for more than four years.

Raphael is a marketing business owner focusing on the combination of online and offline marketing. He is always seeking for new business opportunities and has a background in front-end web-development. As our amateur pianist he is the most gifted musician of the three.

Sander is developing applications for over 15 years. He has worked as a backend developer for one of the biggest hosting companies in the Netherlands. He has worked in the caribbean for a year and now he is finishing his Bsc in psychology at the university of Twente, with a minor in computer science. His passion lies in improving broken systems and creating innovative new applications.

Jurre is an amateur guitar player. He has a Bsc in building engineering and is working on his master’s (innovation sciences) thesis talking about the abstract world of “ecosystems within the future of the financial services industry”. Currently he works to help a company change/innovate. In addition he likes to discuss life, the future of work and the future of society from a technological & economical perspective.

What is Moosecoin/Moosty?

Moosecoin is a currency within the Moosty ecosystem. The picture underneath is a way of visualising the whole ecosystem. In the Lisk ecosystem the “external market” could probably be seen as the “Lisk ecosystem.” The concept might subtly change over time, depending on the evolution of sidechain solutions. The aim of Moosty will always remain the same; to empower musicians with a system that works in favor of the creators of the music.

How does Moosecoin work

Read more on Medium

What is the origin of the idea for Moosecoin/Moosty?

Six years ago we bumped into the same problem we are trying to solve today. We are musicians ourselves and wanted to register the songs we had made. But we could not understand how we could do it in a simple manner. Someone even proposed to put the song in a letter and give it a timestamp from the post office, can you imagine? We started to read about the music industry since we could not imagine the process to be this complicated. The more we read, the more complicated it becomes, the more we came to the conclusion that this will definitely need to change in the future.

As an answer we came with our Moosty App; it provides the possibility for new musicians to reach a large audience at once and to ease the administrative efforts of registering your music without directly needing a label or third party to sign a contract with. We wanted to give artists a chance and provide an easy onboarding for starting musicians.

This is the origin for the Moosty app, Moosecoin has been added as a concept in mid 2016 when we started to read about the blockchain possibilities.

Why use blockchain for the problem you’re trying to solve?

Blockchain is not the solution to all the problems we would like to solve, but it is a potentially revolutionary solution for one of the core problems within the industry; transparent registration of rights and automated contracts that empower musicians. We would like to use the blockchain to start the building of a new distributed ecosystem.

In the future the world will have a global, online and offline accessible way of storing your music and related rights, easy to communicate, accessible in every language. This storage will automatically be secured and communicated with musicians, rights holders, authorities, streaming services, and other related actors. This is the foundation of a system that opens up a great number of new possibilities for live performances, marketing, and gamification options. It is most likely that it will happen with blockchain technology, although the exact way this will work is still debatable and to be seen. We have multiple possibilities which we are working on with artists themselves.

So, we need a blockchain for secure registration of authorship, automated contracts, instant payments, might use it for registering streaming services, a music marketplace, but it does not mean we have to create them all ourselves.

What gives your token value?

We would like to create a system where the artist is empowered, and where the ecosystem incentives are aligned to create more value for musicians.

There are several possibilities; the song, its rights and the artist are assets. A song is an asset that can grow in value, such as an artist. We are still working on the right angle with our starting community of artists.

In addition it might be used as a share in the distributed company we create (this is not to be underestimated, and we could learn a lot from the way Lisk is approaching it). Therefore it is a very delegate operation to be taken seriously before rushing into all kinds of solutions. There are incredible difficult dynamics in a world of tokens. We understand enough that it is difficult to create one token to be used as an infrastructure, as an asset class, and as medium of exchange. What in addition will be used as speculative tool.

How do you think you can compete with the big boys in the industry?

We start by acquiring the new musicians who do not want to be locked in. We provide a streamlined onboarding process. It means; everything from mobile devices, standardized and transparent contracts, automated payments. Try to facilitate everything they need in a fully transparent and easy way.

In addition we do not need to compete only, we start in collaboration since we are 
taking care of the back-end mostly, the infrastructure, and we have a music streaming application operating within a niche, not even minor competition to the large players.

Why did you choose for the Lisk platform?

To create a movement we need collaborations; we need a blockchain community for the state-of-the-art blockchain knowledge (we do not claim to become blockchain experts in order to improve the consensus algorithm), we need a community of engineers that are intrinsically motivated to help us building cool stuff (because we do not need to build every tool ourselves), we need to compete with the big boys in the long run (and we cannot do it alone), we want to integrate all future blockchain possibilities (and Lisk seems to be on the right track to integrate this).

What we do know is that an ecosystem like Lisk will automatically attract all these kinds of different entities, professionals, enthusiasts, intrinsically motivated people who are willing to grow the system with their own ideas. We are already collaborating within the Lisk ecosystem through the creation of a team of delegates.

We think we can use the future interoperable solutions to scale faster than by creating the ultimate system ourselves. An ecosystem structure where modules and complementarities are created by musicians and engineers distributed over the world instead of a couple of large organizations creating half baked solutions and accruing all the revenue.

And to be honest. Nothing is pure rational. We saw Max Kordek present Lisk in Amsterdam back in april 2016 and we started to follow the Lisk community since then. I guess it could have been another ecosystem, but Lisk has a vision, accessible programming language; the understanding that user experience and masses are important (SDK, UX), thriving community, european, as we have experienced until now.

Did you consider using other platforms?

Related to the answer above, we did think about ethereum/ardor and did some research to other platforms, but it is obvious that if you compare different solutions that you are biased when you already know a lot about one of them which is creating a solution perfectly in line with your vision. So, we believe in the Lisk approach and with their community we could be able to pull this off.

How much money do you guys need from your ICO to be considered as a successful ICO?

We know that we can work with a complete (small) team for two years with 500k. We currently have 80.000 worth of tokens. We do not need millions to spend since it is the long run we aim for. We should start small and start to earn from our own value proposition early. Although it remains a combination of time x money x effort. If we have more money we can hire more people and put more effort in. And we certainly need more value in the future if we want to compete with the big boys.

Are you hiring?

Yes we are currently looking for a UX/UI Designer to join our team. If funds are good we will also acquire more developers to start building faster. We also started with the Lisk Ascend team to tap into the knowledge of all kinds of different Lisk contributors in order to create a community approach.

How is development coming?

Not fast enough, haha. We are currently working on a musicians portal, a music application (with a very cool idea to change how you discover new music – read more) and in addition wait for the SDK. So, we are really looking forward to the 20th of february and hope we will get some good news!

What is the current roadmap?

To as quickly as possible launch our Music application to start discovering music and an artist portal where artists can already register themselves. Then, after that, we are dependent on the development of Lisk (SDK).

Last but not least, where does the name Moosecoin/Moosty come from?

The first idea has been to create the music application. It should empower musicians to get their music out to a greater public. So we started with brainstorming about names and we liked the short version of ‘Music Sharing’ (MuSe). But that has been taken by some guys from the UK we heard. So we were stuck with Moose, which has a meaning in English of course. What is not a real catch if you would like to search for URLs. So then we bumped into Moosty, which does not mean anything. And that’s exactly what we needed. A new word, for a new idea.

End notes from the Moosty team:
What makes a blockchain and a cryptocurrency/asset special is the fact that the entire system behind is only loosely dependent on the system of fiat currencies and therefore a national political system. Therefore a crypto-asset and its community does not have a specific cultural kompass, except for the culture and values incorporated in the community itself. Therefore we are not here to only create a Music application. We want to change the world through a blockchain community.

Therefore we have joined with some other community members into a delegate pool We think the delegate system should be used to create real added value and that liskascend might be a start of the solution. The pledging system provides voters with the possibility to vote for new delegates without losing rewards. And the vision of Liskascend provides the Lisk ecosystem with a more mature view on delegates. We want to become part of such a community that is global rather than national, that is fair rather than unequal, that is always striving for better solutions rather than keeping the old.

Thank you very much for giving us the opportunity to explain more about ourselves, we really appreciate it! wishes Moosty all the luck in the upcoming future and is psyched to see more and more projects committing to the Lisk ecosystem.