Its been just over a year since we incorporated Bittunes Pty. Ltd. Since then we have built the Bittunes micro payments sharing platform, the Android application (which is available on Google Play) and are currently working on the Desktop application for Mac, Windows and Linux. We have been to four international Bitcoin conferences, San Jose, Singapore, New York and Amsterdam, (taking part in a Hackathon in San Jose in May 2013 and as a sponsor in Singapore in Nov. 2013). We have given talks on Bittunes in Singapore in Nov. 2013 and in London in March 2014.

The reason that we consider Bitcoin to be such an enabling technology is that it is potentially global in reach and supported by a rapidly growing economy of bitcoin service providers. However the main attribute is that Bitcoin is a native digital currency and therefore is perfectly suited to monetizing digital data exchange.

Continued development through long stealth phase

We have been through a long self financed development phase enabling us to understand the technical issues and challenges of delivering a commercial micro payments solution for the independent music industry. During this phase we have developed a fully functional Android application for Bittunes which utilizes our Bitcoin royalty payments system. However, we have sought to keep a fairly low profile for the venture until we could secure a foot hold in the music industry by forming a strategic alliance that could enable us to seed the thousands of tracks into the system that would be required to stimulate demand. We are now almost about to finalize this phase and move toward commercial release of the platform.

Upcoming industry integration will be worth the wait

We hope to be able to make an announcement soon about a strategic alliance with a significant and established music industry player, but must wait until all aspects of the deal have been confirmed. This arrangement has taken many months to negotiate and we are very excited by the potential of this relationship.