Imagine a snack vending machine that not only takes money from you and gives you a snack but also uses that money to automatically reorder the items. This vending machine also orders cleaning service and pays its rent all by itself. When you put money into the machine, you and its other users also have an influence on what snacks it orders and how often it needs to be cleaned. The machine has no conductors, all these processes are prescribed in an advanced computer protocol.
100% automatic record label
Then imagine a digital record label where publishing, marketing and quality assurance takes place 100% automatically. Fans and listeners are rewarded for listening to music - and the listeners decide which song the record company will release next. The record company does the marketing itself and the listeners decide the content of the marketing campaign and are rewarded for contributing content.
Settlement of royalties to the creators of music is done automatically. The program knows exactly who produced, composed and wrote the song. The protocol knows which years the song has been released, how much the song has garnered and which fans have listened to the song the most. In addition, the protocol knows which listeners have voted for it, which listeners have made its marketing campaign and who has invested money in the song. The whole thing is transparently and anonymously stored on a blockchain.
This is roughly how ETHEAT works. A Decentralized Autonomous Platform (DAP). The main idea behind FLIP is to establish an automated digital platform that can fully function without hierarchical management.