RECORD Foundation
RECORD Foundation
Token: RCD


Reward-Based Music Platform

ICO dates
Start date: 2018-04-15
End date:

Registrated in: Singapore

Platform: Ethereum
Type: ERC20

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RECORD Foundation categories
Art Business services Communication Entertainment Internet Media Platform
RECORD Foundation whitepaper
Video
RECORD Foundation token sale
KYC passing required Yes | Whitelist No | Restriction for countries No
Soft cap 60,000,000 RCD
Hard cap 150,000,000 RCD
Tokens for sale 150,000,000
Token distribution in ICO
50%
50%
Price 1 RCD = 0.1 USD
Price in PreICO 1 RCD = 0.08 USD
Minimal investment 10,000 RCD
Acceppting ETH
RECORD Foundation news, social
RECORD Foundation search trends in Google
Random whitepaper excerpts

RecordFarm uses blockchain technology to safeguard the rights of
artists. Unlike the unaccountable copyright management and unclear
profit distribution in current music services, RecordFarm ensures clear
profit distributions and transparent transactions between the artists
and listeners. As well as enabling direct transactions with no
intermediary, RecordFarm records copyright information on the
blockchain ledger permanently.
In addition to offering transparency, artists are rewarded for posting
and sharin
g their music. Listeners can contribute to artists’ income by
interacting with the music; every interaction delivers an additional
monetary reward for artists in the form of RECORD (RCD) tokens,
giving the artists a direct payment which in turn incentivizes them to
produce higher quality music. The more popular the music, the more
RCD tokens received.
RecordFarm revolutionizes traditional music service platforms by
rewarding both artists and listeners. Listeners pay ...

Explanation of RECORD Ecosystem

RECORD Foundation:
organization managing RECORD (RCD) tokens

RECORD (RCD) token:
cryptocurrency within RECORD Ecosystem

RecordFarm:
open music platform served by RECORD Foundation

RECORD Ecosystem:
distribution ecosystem using RCD tokens with the
purpose of protecting rights via transparency and fair compensation
* ‘RECORD,’ used to refer to the token or the name of our project, is c
apitalized to distinguish
between ‘record,’ which commonly used to refer to audio contents.
1
EXECUTIVE
SUMMARY
“RecordFarm is a reward
-
based music platform with Ethereum.”
1
This paper describes the world’s first reward
-based music platform, RecordFarm, where artists and listeners
are fairly rewarded for their value creation on music content with the cryptocurrency, RECORD (RCD) tokens, within
the RECORD Ecosystem.
RecordFarm, a decent...

* THE INFORMATION PROVIDED ON THIS PAPER
MAY BE EDITED OR DEVELOPED FURTHER BASED
ON ADVICE FROM OUR ADVISORY COMMITTEE OR
ANY OTHER INSIGHTS.
2
BACKGROUND
2
With the emergence of the internet and MP3 players in the 1990s, music is
being consumed ubiquitously at all times. Nowadays, listeners no longer solely
just listen to music, but they also expand the influence of music through active
engagements, such as sharing and liking. In other words, listeners are
increasing the value of music through curations and are playing an ever-
important role in the music value model. However, the traditional music industry
is still focusing entirely on distributions and transactions of music. While the
influence and power of record labels, music distribution services and production
companies have grown, fair compensations for artists and listeners are still not
taking place.
Realizing the necessity of fair compensations for value-creating works of
artists and listeners, ...

3
MISSION
STATEMENT
‘Promoting the value of music and inspiring people to live better lives’
3
Music is an unparalleled source of inspiration for people in the modern days. Music
allows us to reminisce about the pleasant or poignant past, motivates us to achieve
greater goals, and often heals our mind. By helping artists focus solely on producing
creative works, a more diverse and sensational music will be created to move the minds
of many. The only way to achieve this is to reward artists and listeners fairly.
4
VISION
‘Asia’s First & Best Blockchain
-
based Music Contents Ecosystem’
4
The lack of access to symmetric information has caused a problem of artists being
excluded from relevant facts. We aim to solve this problem by building a decentralized
music platform using blockchain technology, which minimizes or eliminates the
intermediary’s role, allowing artists and listeners to be compensated fairly.
RecordFarm 1.0 is al...

5
CURRENT
PROBLEM
5.1 COPYRIGHT MANAGEMENT
5
Ever since the formation of the music industry, copyright management and profit
distribution have been a persisting issue. However, it has become increasingly harder
to track pirated contents due to the universalization of digital music. As a result, more
than one-third (35 percent) of internet users accessed unlicensed music content in
2017, according to the research by IFPI (International Federation of the Phonographic
Industry). This figure only accounts for desktop users, so the total figure is expected
to be higher when including mobile users.
Copyright database presents another problem, as poor management during the
stage of copyright registration is widespread in the music industry. This includes the
collection of inaccurate data of music contents, such as melodies and lyrics, or of
copyright holders. Eventually these inaccuracies reach a stage where it is difficult to
correct this information. According to a South Kor...

5.2 PROFIT DISTRIBUTION
Digital revenues increased by 17.7% to 7.8 billion USD, driven by a steep
60.4% growth in streaming revenue, the largest growth in 8 years. Despite these
improvements, artists take away only a small portion of the profit generated
from their own
work. Take for example, in 2015, it was revealed that Spotify’s
average payout to labels and publishers per stream was between $0.006 and
$0.0084. After the labels take their share, the average payment to a signed
artist was around $0.001128, a figure more than 6 times less. To further
exacerbate the problem, this payment is given 6 to 18 months after and the
music-usage data used to calculate the revenue were not shared. These
complications have led Taylor Swift, a world-famous pop star, to delete her
music from Spotify and stop releasing her future albums on Spotify.
FIGURE 1. GLOBAL DIGITAL MUSIC INDUSTRY REVENUES (SOURCE: IFPI, 2017)
07
...

5.3 CENTRALIZATION
AND NONTRANSPARENCY
‘Loss of copyright information, small profit distribution, delayed payments and
lack of payments
data’
These myriad of problems is rooted in the problem of a ‘lack of transparent
information’ due to centralization. ‘Unclear distribution of profit’ between the
intermediaries and the artists has been a continued practice in the industry since
1990s, even before the emergence of digitized music. The archaic hierarchy of main
distribution companies managing all the data due to the lack of technical skills has
been continuing ever since.
Artists can demand their rights only when the transparency of information is
guaranteed. For instance, if artists could monitor their content usage online in real
time, a society where artists are evenhandedly rewarded would already be
established. Until now, artists don’t have the opportunity to solely focus on content
creation. Thus, the real opportunity cost of a ‘centralized management of i...

‘LAUNCH AN ICO, THEN DEVELOP’ IS NOT THE DIRECTION
WE INTEND TO TAKE. UNLIKE OTHER ICO FIRMS, WE
HOPE TO SUCCESSFULLY LAUNCH RECORDFARM 1.0 FIRST,
THEN TRANSITION INTO RECORDFARM 2.0 BASED ON OUR
TECHNOLOGICAL SKILLS ACCRUED OVER TIME THROUGH
YEARS OF BLOCKCHAIN RESEARCH. WITH 3 YEARS OF
UNPARALLELED TECHNOLOGICAL SKILLS AND BUSINESS
EXPERTISE, WE ARE CONFIDENT THAT WE WILL NOT BE
ONE OF THE FIRMS THAT SURFACE BRIEFLY AND
DISAPPEAR INTO THIN AIR.
- SHIN, RECORDFARM CEO
...

RECORD Foundation Roadmap

1
2015
Launched Recordfarm 1.0; Began first round of funding; Embedded social networking service.
2
2016
Won the best Korea database prize; Awarded top 3 best music app in Asia by MWC Asia.
3
2017
Selected by facebook as its startup partner; Recommended app at Google Play; Launch Recordfarm 1.4.
4
2018
Whitepaper 1.0 release; establish record foundation in Singapore; Press Release; Launch Recordfarm 1.5; Whitepaper 1.5 release; Open ICO crowdsale; Establish Contracts with world-renowned coin exchanges; Expand team; Create record wallet 1.0; Establish record token algorithm.
5
2019
RRS algorithm in machine learning; Global Partnership; Launch Recordfarm 20 BETA; Global marketing, PR and sales campaign; Extend blockchain technology to the real world; establish further contracts with world-renowned coin exchanges.
Harrison Shin
Harrison Shin General Manager

Moon Heo
Moon Heo PROJECT MANAGER

Sunah Son
Sunah Son DEVELOPER

Dahye Jeong
Dahye Jeong DEVELOPER

Jinhyuk Kim
Jinhyuk Kim DEVELOPER

Heewon Lee
Heewon Lee Designer

Kh Choi
Kh Choi DEVELOPER

Alex An
Alex An AMBASSADOR FOR EUROPE

Geumbin Lee
Geumbin Lee AMBASSADOR FOR ASIA

Alexander Ferez
Alexander Ferez AMBASSADOR FOR AMERICA

Keith Teare
Advisor Keith Teare COFOUNDER OF TECHCRUNCH

Richard Kastelein
Advisor Richard Kastelein FOUNDER OF BLOCKCHAIN NEWS

Minhwa Lee
Advisor Minhwa Lee PROFESSOR OF KAIST

Junic Kim
Advisor Junic Kim PROFESSOR OF KONKUK UNIVERSITY

Keith Teare
Keith Teare
COFOUNDER OF TECHCRUNCH
Executive Chair at Accelerated Digital Ventures
Advisor
CO-FOUNDER OF TECHCRUNCH
Executive Chair of UK venture company Accelerated Digital Ventures
The co-founder of TechCrunch
Technology Entrepreneur
Adviser
TechCrunch founding team, Founder & Executive Chairman, Accelerated Digital Ventures
Founder and Executive Chairman of Accelerated Digital Ventures
Richard Kastelein
Richard Kastelein
FOUNDER OF BLOCKCHAIN NEWS
Communication Advisor
Publisher, Entrepreneur, Tokonomist
Publisher and Founder at The Blockchain News
Blockchain News Publisher
Leading Crypto-News Writer, Founder of Blockchain News
Founder, Blockchain News Writer, Publisher, & Entrepreneur
Advisor
Blockchain Media Advisor
BLOCKCHAIN NEWS PUBLISHER
Co-founder of Initial Coin Offering (ICO) company CryptoAsset Design Group
Project Ambassador
Founder of the Blockchain News
ICO Advisor