A design for music consumption in the 21st century and beyond. Musicoin is designed to support the creation, publication, and consumption of music as a cycle. The system uses a special algorithm to generate a currency called Musicoin (MC), as well as another algorithm to support automated contracts ("smart contracts") which enable creators and consumers to exchange value in a frictionless environment. With a unique currency and a solid contract system, large scale transactions around music becomes possible. Sharism is the fundamental philosophy underlying the Musicoin system, and it is from this perspective that people are enabled to share their creations online and be paid every time their creation is played (or read, enjoyed, etc. depending on the context). So for a musician's work that is released to a system, the system traces the usage and returns the prescribed value directly to them in a way that is in line with the principle of equal energy exchange.
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