At DeFi Summit London, Paperchain & Centrifuge leveraged funding from the Maker Foundation, one of the teams contributing to the Maker Protocol, a decentralized finance protocol, to advance US$60,035 in Spotify revenue to a Paperchain record label customer.
Author: David Gogel (Paperchain)
Editor: Daniel Dewar (Paperchain)
At DeFi Summit London, Paperchain and Centrifuge leveraged decentralized finance protocols to advance $60,000 USD in Spotify revenue to a Paperchain record label customer;
While media consumption has shifted to streaming and on demand models, the revenue and payments process hasn’t changed;
Revenue from a Spotify stream can take 3 months to reach a record label; 6 months to reach an artist. $100 billion USD sits trapped in 90 day accounts receivables across the wider digital media industry;
The advance was issued live on stage using Centrifuge’ Tinlake finance application, and was originated in less than 30 minutes at a transaction cost of less than $3 USD;
Decentralized Finance (DeFi) has the potential to disrupt traditional financing and secured lending products through programmatic, data-driven asset creation, and low origination costs;
Paperchain is an early-stage startup building real-time revenue forecasting and financial tools for the digital media industry using unique applications of data science and blockchain technology.
We’re looking for a Data Engineer to come in and help build our data pipeline foundations at Paperchain. This is a contractor role with the plan to transition into a full-time role. The core team functions remotely with HQ being in New York and our CTO in Berlin.