Our core mission is to achieve full transparency and traceability of transactions for our community of investors. That is why we decided to partner with the established Algorand blockchain.
The ANote Music platform is mirrored on the Algorand blockchain. This translates in three main consequences:
- Smart contracts: every music catalogue listed on ANote Music is mirrored into an equivalent ASA (Algorand Standard Asset) - a typical token or smart contract that represents the underlying asset on the blockchain
- Wallet: every investor is given a wallet on the Algorand blockchain upon completing the registration process on ANote Music, to store their assets. A wallet is not really a physical storage, but a digital key to unlock the use of some resources (e.g. funds and tokens) that are said to belong to the specific wallet. At any moment, the investor’s Algorand wallet contains a number of ASAs that mirror the composition of their portfolio on the ANote Music platform
- Transactions: every transaction that takes place in the primary and secondary market gets signed and registered on the blockchain, executing the request and allowing investors to trace it straight away
In this way, ANote Music ensures that all transactions in royalty interests and related rights are auditable, resilient and transparent.
The wallet can be easily queried (meaning being read) by every investor so that they can make sure the blockchain wallet balance is the same as in their portfolio on the platform, and that the state is globally correct, shielding the investor from any later potential issue.
This is done through the link to the Algo wallet highlighted in the ANote Music portfolio section, or by researching the address of the operation/wallet that you want to verify from the Algorand Blockchain Explorer.
Through blockchain mirroring we ensure investors on ANote Music the highest level of transparency, auditability and trustability.