CRYSTALS is the blockchain based solution that can fundamentally shift the technological direction of a single industry: modeling. CRYSTALS presents a multi-faceted solution to the problems in the modeling industry face. Fundamental insecurity and distrust cause some of these problems among clients and model, as well as a centralized power structure that places a disproportionate amount of power in the hands of a few agencies.
CRYSTALS uses cryptocurrency to address these weaknesses as well as improve upon others in the functions of the modeling industry. The strengths of the blockchain are based on decentralization and security that are applied to the modeling industry where they haven’t been before. The model speaks to the ingenuity of the CRYSTALS team and the flexible and decentralized nature of the blockchain. Innovation is for all sorts of industries.
The actual innovation of CRYSTALS is simple. CRYSTALS works by allowing models to post profiles and clients to view and book using these profiles. When a model is booked, cryptocurrency from the potential client’s account is transferred to a holding account. When the job is confirmed through a smartphone app, the currency is transferred through the platform to the model’s account.
Here’s how that simple process revolutionizes the industry:
Top modeling agencies currently control a considerable amount of the $10 billion industry. The top few are estimated to pull in almost 17% a year. It means that the few that can control those firms have tremendous power over their models and their clients. While it is good for them, models are often subject to high pressure and low paying jobs to maintain the possibility of employment with these agencies.
Those in power are known to abuse it, and as a result, the quality of life for models and the quality of service for their clients is deficient. These agencies also often use their power to charge exorbitant prices or otherwise less value for their clients. This is precisely the type of inefficiency cemented in tradition and lack of appropriate tech that blockchain seeks to stamp out. Surprisingly, CRYSTALS will make models and agencies smarter, quicker, and sexier.
Crystals allow independent models to list themselves in an easy to use and easy to access catalog alongside other represented models. It not only increases the choice and quality for clients but also improves the safety and self-control for models. Models can realistically set their careers and manage their money without the obligations and inefficiency of an agency. Just as cryptocurrency has freed and decentralized so many other industries, it just might do the same for modeling.
2. Technological Stagnation
The monopoly of agencies has also allowed them to stagnate terribly as the rest of the economy accelerated technologically. Agency websites are archaic and sometimes purposefully confusing.
Agencies gain power but have less information available. CRYSTALS would be the first significant step for modeling since the invention of the internet. The transparency and efficiency offered by CRYSTALS would jet the modeling agency into this century. By removing the monopoly of the agencies, Crystals would encourage further innovation, better, safer and fairer service for modeling for all.
Why It Matters
In a world where cryptocurrency is continuing to explode and change the economy in unexpected ways, it certainly seems that modeling is not the first industry one would imagine embracing blockchain technology. However, the fact that it is shouldn’t surprise anybody, and as the technology continues to grow, it will continue to touch more sectors of the economy that were unforeseen before.
The genius of blockchain is due to its open-source nature, and an innovator in any industry can use it to make their industry better, safer, and more efficient. The decentralized nature of blockchain allows for a decentralized process of innovation and progress. While modeling is certainly a new frontier for many in the blockchain world looking to invest their time and money, the fact that it is spreading to new frontiers which is fantastic news for any crypto enthusiast.