Ethereum Blockchain to be used to find the next K-Pop Idol
Blockchain technology has no doubt revolutionized the technological world, used is several spheres like remittance payments, hospital records, dissemination of universal basic income etc. but one of its most interesting applications is in Korea’s entertainment industry.
The South Korean entertainment provider, z-POP Dream Project intends to use the technology to find the new K-Pop star and build the upcoming entertainment platform. K-Pop or Korean Pop has become the new face of the Korean entertainment industry, with its popularity not just limited to Asia but has spread throughout the world.
The intention is to build a plethora of talent and an overarching structure for the discovery of new talent for Z-POP worth a whopping $46 billion, as voiced by their CEO Jun Kang to the Korea Herald.
Voting, being one of the key facets in the talent business will be built on an Ethereum blockchain, in order to ensure security and transparency of the tally. The aim of this relationship will be to nurture and help grow talent, increase their fan base and help develop future pop stars.
A “Star Creation” segment is also on the cards, with the Z-POP Dream Audition being held in the following locations: Korea, Hong Kong, Japan, the Philippines, India, Indonesia, Vietnam, Malaysia, Taiwan, and Singapore.
A token system has also been implemented for this program, with an initial token offering scheduled for October. The token system will operate with a two-pronged objective, to create a sustainable foundation for the project so that it can grow and the other will be to create a global monetization platform that will build a streamlined process to channelize the token revenue generated by the business.
Z-Pop Dream will have its own cryptographic token, the ZPOP coin, which has a whitelist price of $0.08 for 1ZPOP. The total supply will be 4 billion tokens, 1 $10 million soft cap, and a $100 million hard cap.
Image via Shutterstock
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