Soundoshi – a 21st century music market


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What’s wrong with popular streaming platforms like Spotify, and how can distributed ledger technology lead to a fairer distribution of artist compensation? Why is the Bitcoin SV (BSV) blockchain very well suited for this, and why is BSV supposed to be a bitcoin version that matches Satoshi Nakamoto’s original vision?

  • You can read more about the interview conducted by Marcin Venus on comparic24.tv with the CEO of the Soundoshi project – Michał Ścisłowski.
  • Soundoshi is a music distribution platform based on the BSV blockchain

What is Soundoshi?

The creators of the project want to change the way music is served to users by streaming platforms so that it is done more honestly for audiences and artists.

According to the guest of the show, the main problem of Spotify platforms is the disproportionate compensation offered to artists at different levels of success. This has a particularly strong impact on Polish performers and, in general, creators in smaller local markets, whose remuneration is paid compared to superstars with several million views. The Soundoshi developers want to prevent this.

Moreover, Scisłowski draws attention to the unfair way of promoting music by large streaming platforms, as it is based on the voting system on a macro scale. Therefore, when we listen to songs, we also vote automatically. Unfortunately, in the case of performers in local markets, these voices are diluted by millions of fan votes, for example for pieces by American or British artists.

What changes does the Soundoshi platform introduce?

The creators of Sountoshi do not want to introduce any revolution. However, they want to equalize how streaming services currently work by introducing user-centric model (user-centric model) where monthly payments are distributed only to the artists we listen to. Since the platform is based on the BSV blockchain, it is possible to make nano-payments of a fixed amount. So, in a month when we don’t listen to music, the unused funds are transferred to the next month.

For users who listen intensively to a particular performer, a separate category of superfans has been created, for which NFT is used as a reward for listening. This allows them to quickly create a permanent collection to which they have unlimited access.

The Soundoshi system will be based on a new digital music carrier, the so-called Soundoshi digital vinyl, which is a data carrier that users buy and is now independent of its manufacturer. The music itself is stored on a BSV database distributed on servers independent of Soundoshi, and users access the recordings via NFT.

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Why was BSV chosen?

The instructor asks the fundamental question why the creators of Soundoshi decided to base their product on the Bitcoin SV blockchain?

According to the guest of the program, BSV is in line with the vision of the creator of bitcoin – Satoshi Nakamoto, as a global chain capable of supporting the global economic system. This means going back to the roots of bitcoin. According to Śisłowski, bitcoin in the form it was created in 2009 was a much more attractive solution than what is currently known as BTC.

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It had several features that were later removed from the protocol, including bitcoin’s internal programming language, bitcoin script. This language, according to Ścisłowski, was a powerful utility tool that allowed saving files directly to the bitcoin chain. The BSV process is very fast and cheap. BSV developers have restored everything Satoshi left before 2014 in the Bitcoin chain.

The show guest refutes two alleged truths related to BTC – that it is digital gold and that it is decentralized by design.

Additionally, BSV has a different approach to mining – here miners, with only a few companies registered, derive most of their income from processing transactions, instead of focusing primarily on getting the price, as is the case with BTC. They are therefore more payment processors (payment processing units), rather than typical minerals.

According to Ścisłowski, after 2014, when the Blockstream company was established, some changes to the protocol started, such as maintaining the block size at 1MB, which was not supposed to be Satoshi Nakamoto’s assumption, and introducing SegWit. This was supposed to make bitcoin dysfunctional.

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