Ditto, the award-winning global music distribution and record label services company, which has processed more than $1 billion in royalties to date, is in the process of developing Opulous: a pioneering peer-to-peer platform to help increase artists' access to capital without the need for traditional institutions such as banks. Ditto's business has expanded from distribution to providing record label, publishing and management services. Every move they have made has been based on their mission to help artists take control of their own music careers.
Ditto selected Algorand for its Opulous initiative for some core attributes that will enable its effectiveness at transforming opportunities for musicians. Algorand is a leader in efficiency with all transactions in under 4.5 seconds - completely instant from sender to receiver. Algorand's scalability will allow Opulous to grow aggressively as lenders and borrowers realise it’s game-changing potential. Algorand additionally has the security and credibility as a serious, long-term player in blockchain - something that was important to the Opulous team as part of their own long term vision.