Tag: Defi
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Paperchain, Centrifuge, Maker Foundation Perform World First, Real-Time Advance of $60,000 USD in Spotify Revenue Using Decentralized Finance
- 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;