Suggested Application to Run on Top of the EOS Network
EOS is a Cryptocurrency developed by Dan Larimer that has many of the properties of Steem but also will be more capable of running various applications, smart contracts, etc. Although I am not a competent programmer I have an idea that may be worth investigating. If a programmer, more competent and dedicated than myself would write an application to run on top of the EOS platform that would accept MP3 files, encrypt them, offer them for sale, take in funds, send a major portion of the funds to the MP3 originator/artist, send a small portion to the originator of the program, send the decrypted file to the purchaser, and receive votes on the validity of the MP3 files so only the original artist receive funds. I believe this would give Amazon and Apple competition in this marketing space. It would not need to be limited to MP3 files, but could be used for any digital media. Perhaps EOS will one day distribute music, movies, digital books, and software.
If you have an idea to expand on this leave a note below.
I definitely see a great future for EOS. It is the best option right now, far out competing Etherium.
I hope the price will increase as well, but I am not so certain of that. There are a crazy amount of money going into EOS and it might actually end up as the largest coin on the market without being the most famous / used coin.
As far as i understand, the block producers will be incentivized to not allow illegal & encrypted data to be hosted (that's what the regular internet is for), they can simply reject to host the files if they believe it to be illegal, of course they can be punished (voted out) for erroneous censoring. Either way, it may be the case that license agreements are still required to host a Spotify type app. although i agree, using a blockchain to distribute profits to artists would certainly be more accountable, and possibly more fair. I'm sure someone will do it, but i don't think is as easy as basically making a website and a contract. Especially in the new world where people will be accountable (to some degree) for what they do and support online, folks will not want to brazenly host an app like that (without proper legal support) that could end up deleting all their coins if it turns out to be illegal.
The system would certainly need feedback to identify plagiarist and cheaters which could incorporate a time delay that would prevent someone unauthorized to receive funds. I see this as completely doable.