Tune.fm taps Hedera Hashgraph for novel use of cryptocurrency in fast music micropayment…

Tune.fm has tapped cryptocurrency startup Hedera Hashgraph to enable fast payments for artists. Pretty soon, you’ll be able to use the Hedera-based cryptocurrency to pay for songs from Beyoncé, Solange, Chaka Khan, and Le’Andria Johnson.

The application is an important step for Hedera, a new decentralized ledger that combines peer-based security and transparency with transactional speed and whose value has until now been theoretical.

Musical artists have always struggled to get their fair share of the revenue their music generates. But this new system will enable a pay-as-you-go business model, using a Hedera-based cryptocurrency token called Jam that enables fast micropayments for every second of music that streams between artists and fans.

Above: The music industry may have a new business model.

Image Credit: Hedera Hashgraph

Tune.fm will let consumers use the Jam cryptocurrency to pay for songs in Music World Entertainment’s (MWE) music catalog. The catalog was…