Poor timing, technology and the music industry: bedfellows with a long history. See also yesterday’s announcement of a new alternative currency, Songcoin, which is essentially bitcoin with a musical focus. This, on the same day that the world’s most prominent bitcoin exchange, Mt. Gox, collapsed amid claims of $367m of stolen currency. Songcoin’s founder isn’t unknown to the music world, though: Kasian Franks made his name as the founder of controversial music search engine Seeqpod, which was squashed on copyright grounds back in the day. “We’re going to make sure that Songcoin has built-in features that cater specifically to musicians and their fans,” he tells “If you use Songcoin to purchase a concert ticket, then we can work with ticket vendors to build in discounts so that if you use Songcoin, you’re going to get a cheaper rate, for example.” He also hints at plans for music recommendations and tip-jars for artists. Interesting, but approach with caution.

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