Description
Study the following fictional scenario:
UC Music is a music-streaming service that offers consumers access to Digital Rights Management (DRM) protected content via a mobile app. Users of the app can browse or search for songs and can create and share playlists with other users. UC licenses content from record labels and other content owners to make that content available to its own users. It offers a freemium model which allows users to stream content for free with advertising. Alternatively, there is a premium service that charges a monthly subscription to access the content without advertisements.
UC is now considering introducing a token, UCcoin, to its platform and using blockchain technology for some of the platform’s activities.
Taking the above information into account, consider the following questions, assuming that UC goes forward with its plan:
How can the introduction of a token benefit UC Music? Which activities are the most important to encourage?
How could UCcoin be used on the UC Music platform?
Which activities will be rewarded?
How will the token be redeemed, and what for?
What are the risks of introducing these rewards?
