The Live Music Industry.
Fissacoin has been developed as the cryptocurrency for stakeholders in the live music industry. Fissacoin is transforming the music event industry by providing benefits that no other payment processing system in the world allowing users to exchange their Fissacoins for goods and services on music events and websites worldwide.
The live music business is a significant multinational industry, employing hundreds of thousands of people worldwide and estimated to be worth more than €25 billion annually (source: IFPI). The sector has become increasingly important to the livelihood of artists and musicians in recent years because of the global downturn in the sales of recorded music.
Those dwindling sales mean that many artists have come to rely on the revenues they make through their live performances for the mainstay of their income.
Even though streaming is exploding a majority of the revenue in the music industry is coming from live events. According to US-based calculations shared by PwC with Digital Music News, ticket sales alone account for 43% of all revenues
We believe the $25 billion market is on the precipice of a new life-altering movement through the liberal and unexplored opportunities of the blockchain technology bringing the largest transfer of wealth of this generation. Are you in?
Profit from the revolution.
The live music industry has always been classified as expensive because of high fees by payment providers and banks putting constant pressure on the hard-earned-cash of event promoters and music fans. Fissacoin will eliminate these problems by creating a universal payment solution based on the blockchain technology for all legal businesses and individuals in the live music industry.
This occurs when individuals purchase multiple tickets to resell them in future for profits. This is due to the lack of transparency in the industry. Sometimes, scalpers even try to sell fake tickets to fans desperately wanting to attend the event.
Many of the payment processing methods used in events incur a high transaction fee. These fees may be as high as 20-25 percent. This directly affects revenue opportunities for the other industry stakeholders.
Apart from the costs being relatively high, transactions in most cases are quite slow. The delay in payment processing may lead to lower sales and revenues being generated.
The payment processing methods used put users and event stakeholders at high risk. Hackers use the vulnerabilities in these online payment processing methods to commit theft. These challenges highlighted can all be attributed to the outdated and centralized nature events are managed at the moment.
A global network of computers use blockchain technology to jointly manage the database that records Fissacoins transactions.
Since cryptocurrency is not bound by the exchange rates, interest rates, transactions charges or other charges of any country; therefore it can be used at an international level without experiencing any problems. This, in turn, saves lots of time as well as money on the part of any business which is otherwise spent in transferring money from one country to the other. Cryptocurrency operates at the universal level and hence makes transactions quite easy.