I believe the infrastructure of having blockchain for the music industry is definitely a more organized and efficient way to share data between the players that go into making a record, and therefore making the payouts and information transfer a much smoother process. However, the issue, just as the second article points out, is having those same players organize themselves onto a system that allows for that communication, not just technologically but also just contractually and mutually agree on the procedure and protocols.
The failure to follow said protocols in filing the metadata for tracks is one of the main reasons that there had been an issue in getting artists paid. The blockchain system from what i understand is just trying to solve the issue of misfiring by giving the opportunity for anyone in the chain to edit and keep the .bc file updated, or “live” as the first video explains.
Concluding, joining and linking the blockchain is the biggest obstacle in the future i would say for this system to be in place, however the already existing partners that have co-signed for it does bring the reality closer to a streamlined industry for music.
The concept of using Blockchain technology to fix the problem of music licensing and copyright is interesting. Like the author of the article, I would be skeptical about this actually working due to all the people who benefit from artists not getting paid. There are too many players in the music industry who make more money by not paying their artists that are not going to want to give that up. The music industry licensing and copyright has become so complicated that I think a lot of people across different areas of the industry would have to be very committed to helping this work in order for the technology to actually provide change. The article mentions that it would use the technology behind Bitcoin. While I am somewhat familiar with Bitcoin, I am not as familiar with the technology behind it, so I decided to find out a bit more about it.
I had never heard of Blockchain technology before these articles. I feel it is a wonderful idea. Reading the quote “Artists can lose up to 86 percent of their proceeds” from the second article pointed out even more that this is an issue that deserves a resolution. The second article also spoke on the issue of transparency in the music industry. This is a well known fact to folks that aren’t even interested in the music industry. I found an article from NPR that touches more on that lack of transparency and how in my mind Blockchain might change that. https://www.npr.org/sections/therecord/2015/07/14/422707429/is-transparency-the-music-industrys-next-battle
I have heard of the term “Blockchain” before, but even after reading and watching these two selections, I was still a bit fuzzy about what the actual term meant. So in my research, I discovered examples of the blockchain, as well as some pros and cons to the new service. My main issue with the development of a crypto-currency in order to compensate musicians and artists was the inevitability of a cyber-attack on the platform, which would result in a widespread loss.
However, I’ve learned that Blockchain is actually super secure, yielding it virtually impossible to be tampered with as long as it operates on the “consensus” system mentioned in the Forbes article.
My second issue, which was briefly discussed in the second link, was the necessity for everybody in the industry to get on board with this new technology.
To people who use digital payment methods such as Apple Pay, Venmo, and Cash App like myself, this seems like a logical and almost completely local and sound strategy where everyone benefits. But, as we know the music industry (at least in the United States) does not favor transparency. If the ledgers and transactions become public data, the PROs and their unjust payments to the artist would soon become a bigger issue than it already is. This is because more people would be able to physically access the information ad libitum, whenever they want it.
So I can see why many businesses and PROs would be weary to this “new” idea, but it is important for them to remember that change often brings about bigger and better opportunities.
In short, I think the Blockchain is a great breakthrough idea that would, at its core, allow artists to stay true to their individual way of presenting/creating their musical art without labels getting in the middle of the process. This allows for more “winners” in the music industry and there would be an expected growth in people listening to new music that’s unfiltered and at the forefront of what’s new and “happenin”!
Prior to watching this video and reading the article, I had no exposure to the blockchain. While I had some trouble understanding the concept, I ultimately think that it is a step in the right direction, and seems to have many positive benefits.
I think this is super important to the music industry because it has the potential to fix any copyright infringement. Since everything is linked up between the PRO, record labels, artist, etc.. anything that gets added on to the meta data would be there, which helps the copyright licensing. Reading about how it could potentially even help with royalties and actually give money to big and small artist that these record companies owe them, is a big step forward for all these artists.
Here is more information on why this is beneficial to music industry: https://coinsutra.com/blockchain-music-industry/
This article on Blockchain and the music industry was very intriguing! I didn’t quite understand Blockchain at first from the video and articles as I don’t feel that they explained what it is and what it does very well. Nor did they efficiently explain how it would impact the industry.
Since I am a layman when it comes to Blockchain I was still confused with the details. But I found this article that talks more specifically on the impact Blockchain could have on the music industry.
Before reading the article presented I had no prior knowledge of Blockchain in the Music Industry. While I agree that artists are not properly compensated for their work, Blockchain in the Music Industry, in my opinion, would be difficult. Especially when it comes to who is getting compensated without proper monitoring.
Bitcoin as a whole is a bit suspicious given how unstable and free the internet is, let alone a type of currency that is derived through the means of the internet.
After watching the video, I find the concept of blockchain is intriguing, yet somewhat difficult to grasp. Overall, I see that it can definitely be a benefit to the industry by simplifying licensing rights and actually paying artists fairly for their work. On the other end, the article describes how certain issues surrounding blockchain can hinder its benefits, although with more growth, it can prove to be a major game-changer.
“It’s time for a major change in the music industry! Blockchain developers, we need your help to empower artists worldwide. “ – Pitbull. Blockchain will certainly make it’s impact on the industry in due time. The second link unfortunately says in a good amount of time. Towards the bottom of this article, you’ll find links to websites regarding advancing the use of blockchaining for music or websites already using the blockchaining technology.
I am all for artists and creators receiving proper compensation for their pieces of work. The blockchain is something I have heard about before but never really aimed to seek out more information on it. The video and article help me understand what it actually is, and why it is more beneficial to artists as opposed to labels. To be frank, I wish artists received MOST of their earnings, even when they are signed to a label. Like Lainey, I was also shocked to see artists might lose up to 86% with the way things are now. I think this is the future of pay, not just for artists, but for everyone. Cryptocurrency will take over the future.
Below is a link which tells a story of how cryptocurrency might not actually be as safe as some think. https://www.prnewswire.com/news-releases/pay-the-devil-in-bitcoin-the-creation-of-a-cryptocurrency-and-how-half-a-billion-dollars-of-it-vanished-from-japan-300520798.html
I have to admit as one who is not as well versed in the area of technology as others in my class, I did have some difficulty gaining a complete understanding on how Blockchain would be the best way to go to solve problems that exist in the music business, especially in the areas of publishing and licensing, and collecting royalties. I have familiarized myself with bitcoin to some degree and since this article referred to it, I do think that before turning to a system such as this, there are some kinks to work out, such as: The amount of energy and expense it takes to maintain such a system, and the risk that exists in an environment without any regulation. https://www.vox.com/conversations/2018/4/11/17206018/bitcoin-blockchain-cryptocurrency-weaver
Blockchain should work… The main problem I see is that the big music companies that would need to be involved are sloppy. Record labels failing to keep records of who they sign, GEMA failing to re-license music on youtube for 7 years. It just seems kind of ridiculous… Businesses should run professionally, especially when said business is in a big chain like the music industry. The music industry is like a living organism and it requires every part of it’s body to work correctly or else it feels pain. I think that Blockchain is an interesting and potentially revolutionary idea, I just hope that the correct companies let it. But of course everyone is worried about making money, so anything that seems like it’ll cost any amount of money is ran from like a monster threatening their lives.
Here’s an article I found describing the impact Blockchain could have. https://publications.iadb.org/bitstream/handle/11319/8627/The-Impact-of-Digital-Innovation-and-Blockchain-on-the-Music-Industry.PDF?sequence=1&isAllowed=y
Like many other people have stated, I have never heard of blockchain prior to reading the article and watching the video. It seems like an interesting addition to the music technology realm but could present problems down the line. Right now the music industry is dealing with certain issues such as not keep all prior records, what consumers are willing to pay for, and increasing skepticism about any new changes that could benefit the industry due to the fact that it could hurt them later down the line. Due to this attitude blockchains probably won’t be relevant in the industry for a while.
In the article i found they explained more about how the music industry could be shaped by using blockchain and what steps the industry would have to take to maintain that new momentum.
One big issue when receiving royalties as a musician, either artist or composer, is the length of time that it sometimes takes to receive the correct amount of earnings. This process can take months to years. There have even been instances where compensations were never received at all. What I got from these links is essentially that there needs to be a better system for distributing rightful royalties. The entire system of copyrights, contracts and relationships between artists, labels and distributors is extremely complicated. In order for something like Blockchain to work effectively, all of these aspects would have to be taken into consideration. Digital currency is a great idea in theory to fix and properly pay artists instantly. However, it will take a lot of trial and error for the system to run smoothly. I do believe this is the future of how royalties will be received.
I read more about Blockchain to further understand what it is straight from the source. https://www.blockchain.com
It appears that blockchain innovation that has contributed to many different industries, but the music industry is a different kind of beast. In its natural state, the music industry has always been nuanced when it comes to whose getting payed and how. But the leverage in holding the specialized knowledge is important for music companies to keep making money, and i think block chain is a threat to that. This is the main problem with blockchain in the music industry, it requires cooperation from companies that we’ve been asking for cooperation from this whole time.
It creates the impression that blockchain advancement that has added to various enterprises, however the music business is an alternate sort of monster. In its normal express, the music business has dependably been nuanced with regards to whose getting payed and how. Yet, the use in holding the particular information is critical for music organizations to continue profiting, and I think square bind is a danger to that. This is the fundamental issue with blockchain in the music business, it requires collaboration from organizations that we’ve been requesting participation from this entire time.
Never hearing of Blockchain before, this has opened my eyes to a new side of the industry! I enjoyed the way the article was written in a perspective of someone sitting in a London Pub comparing the industry veterans to the mafia, hahaha. I think the whole concept of the Blockchain is extremely interesting, because music artists are more often than not, never compensated for all the hard work they have put in to make music for us to listen to on a daily basis. I know that sometimes I don’t even think about what it is i’m listening to but someone did put in an effort to make that music. The concept of Blockchain is very iconic, if the industry aids it in working to its full potential. Everyone has to be on board or something like this could just fall through the cracks like many other attempts to compensation.
Here is a step-by-step guide to Blockchain for those who want to learn more about the process. https://blockgeeks.com/guides/what-is-blockchain-technology/
Blockchain is a technology I had no previous knowledge of prior to reading the article and watching the video. I believe it’s a great idea and solution, especially for artists so that they can be fairly compensated for their work. As stated in the article, there are various factors such as consumers’ reluctance to pay for music and coordination between global PROs before blockchain has the opportunity to become a mainstream platform. After reading and watching the article and video, I began to research actual companies that are supporting the blockchain database. The following article details a company called eMusic that has planned to raise millions of dollars to build a blockchain platform: https://www.billboard.com/articles/business/8467928/emusic-raise-70m-new-blockchain-music-platform
It astounds me that in 2018, we still don’t have a simpler way to pay people in the music industry. Even though it remains one of the most complicated systems in the copyright arena, it still seems over complicated. Now using digital cryptocurrency could actually fix this, but the problem with cryptocurrency is it is still a new medium in a lot of ways. So it’s not widely accepted everywhere and it complicates tax requirements for those in the music industry.
It’s tricky acknowledging each persons own faults in what the music industry has become, which is a rip-off to most artists. With issues like competing PROs unwilling to work together to move the industry forward and be more efficient, and then people like me who have been unwilling to pay for any music platform until a few months ago resulting poor artist compensation, we’re all the problem when it comes to implementing a better method of repayment to artists. With that in mind, I became curious as to what could motivate a change in consumers mindset that music is better free.
Learning that the music industry is so corrupt that some people want to avoid the ‘revolutionary idea’ behind blockchain is astounding. The use of blockchain could be a huge step in the right direction and make the music industry way more reliable then it currently is. For years artist have been either not getting paid or getting paid the least for their work! It has to stop and Blockchain could help lead the music industry in the right place not only helping the artist get paid what they deserve but by bettering the foundation of the music business. I found an article that talk more about the economic of the music industry and how music fans constantly listen to free music without paying a dime. You can find it here: https://www.rollingstone.com/music/music-news/the-new-economics-of-the-music-industry-234924/
Although, I still do not understand the blockchain fully. I believe it would be beneficial for the music industry and a solution to artists being paid fairly. I researched more benefits of blockchain and found the article below.
I believe the infrastructure of having blockchain for the music industry is definitely a more organized and efficient way to share data between the players that go into making a record, and therefore making the payouts and information transfer a much smoother process. However, the issue, just as the second article points out, is having those same players organize themselves onto a system that allows for that communication, not just technologically but also just contractually and mutually agree on the procedure and protocols.
The failure to follow said protocols in filing the metadata for tracks is one of the main reasons that there had been an issue in getting artists paid. The blockchain system from what i understand is just trying to solve the issue of misfiring by giving the opportunity for anyone in the chain to edit and keep the .bc file updated, or “live” as the first video explains.
for info on metadata
https://www.justmastering.com/article-embeddingmetadata.php
Concluding, joining and linking the blockchain is the biggest obstacle in the future i would say for this system to be in place, however the already existing partners that have co-signed for it does bring the reality closer to a streamlined industry for music.
The concept of using Blockchain technology to fix the problem of music licensing and copyright is interesting. Like the author of the article, I would be skeptical about this actually working due to all the people who benefit from artists not getting paid. There are too many players in the music industry who make more money by not paying their artists that are not going to want to give that up. The music industry licensing and copyright has become so complicated that I think a lot of people across different areas of the industry would have to be very committed to helping this work in order for the technology to actually provide change. The article mentions that it would use the technology behind Bitcoin. While I am somewhat familiar with Bitcoin, I am not as familiar with the technology behind it, so I decided to find out a bit more about it.
Here’s an article about the technology behind Bitcoin/Blockchain https://blockgeeks.com/guides/what-is-blockchain-technology/
I had never heard of Blockchain technology before these articles. I feel it is a wonderful idea. Reading the quote “Artists can lose up to 86 percent of their proceeds” from the second article pointed out even more that this is an issue that deserves a resolution. The second article also spoke on the issue of transparency in the music industry. This is a well known fact to folks that aren’t even interested in the music industry. I found an article from NPR that touches more on that lack of transparency and how in my mind Blockchain might change that.
https://www.npr.org/sections/therecord/2015/07/14/422707429/is-transparency-the-music-industrys-next-battle
I have heard of the term “Blockchain” before, but even after reading and watching these two selections, I was still a bit fuzzy about what the actual term meant. So in my research, I discovered examples of the blockchain, as well as some pros and cons to the new service. My main issue with the development of a crypto-currency in order to compensate musicians and artists was the inevitability of a cyber-attack on the platform, which would result in a widespread loss.
However, I’ve learned that Blockchain is actually super secure, yielding it virtually impossible to be tampered with as long as it operates on the “consensus” system mentioned in the Forbes article.
My second issue, which was briefly discussed in the second link, was the necessity for everybody in the industry to get on board with this new technology.
To people who use digital payment methods such as Apple Pay, Venmo, and Cash App like myself, this seems like a logical and almost completely local and sound strategy where everyone benefits. But, as we know the music industry (at least in the United States) does not favor transparency. If the ledgers and transactions become public data, the PROs and their unjust payments to the artist would soon become a bigger issue than it already is. This is because more people would be able to physically access the information ad libitum, whenever they want it.
So I can see why many businesses and PROs would be weary to this “new” idea, but it is important for them to remember that change often brings about bigger and better opportunities.
For more information on what Blockchain is, Click here:
https://www.forbes.com/sites/forbesagencycouncil/2018/04/05/what-is-blockchain-and-what-can-businesses-benefit-from-it/#2a87a3d5675f
In short, I think the Blockchain is a great breakthrough idea that would, at its core, allow artists to stay true to their individual way of presenting/creating their musical art without labels getting in the middle of the process. This allows for more “winners” in the music industry and there would be an expected growth in people listening to new music that’s unfiltered and at the forefront of what’s new and “happenin”!
Here’s a useful video on the impact Blockchain would have on the industry: https://www.youtube.com/watch?v=etu-g8wmEbU
Prior to watching this video and reading the article, I had no exposure to the blockchain. While I had some trouble understanding the concept, I ultimately think that it is a step in the right direction, and seems to have many positive benefits.
Here is an interesting video I found with more information regarding the block chain:
https://www.youtube.com/watch?v=2iF73cybTBs
I think this is super important to the music industry because it has the potential to fix any copyright infringement. Since everything is linked up between the PRO, record labels, artist, etc.. anything that gets added on to the meta data would be there, which helps the copyright licensing. Reading about how it could potentially even help with royalties and actually give money to big and small artist that these record companies owe them, is a big step forward for all these artists.
Here is more information on why this is beneficial to music industry:
https://coinsutra.com/blockchain-music-industry/
This article on Blockchain and the music industry was very intriguing! I didn’t quite understand Blockchain at first from the video and articles as I don’t feel that they explained what it is and what it does very well. Nor did they efficiently explain how it would impact the industry.
Since I am a layman when it comes to Blockchain I was still confused with the details. But I found this article that talks more specifically on the impact Blockchain could have on the music industry.
https://medium.com/s/welcome-to-blockchain/what-could-blockchain-do-for-music-4f60220e9709
Before reading the article presented I had no prior knowledge of Blockchain in the Music Industry. While I agree that artists are not properly compensated for their work, Blockchain in the Music Industry, in my opinion, would be difficult. Especially when it comes to who is getting compensated without proper monitoring.
Bitcoin as a whole is a bit suspicious given how unstable and free the internet is, let alone a type of currency that is derived through the means of the internet.
Here is a link that helped me understand how Blockchain works
https://medium.com/the-mission/a-simple-explanation-on-how-blockchain-works-e52f75da6e9a
After watching the video, I find the concept of blockchain is intriguing, yet somewhat difficult to grasp. Overall, I see that it can definitely be a benefit to the industry by simplifying licensing rights and actually paying artists fairly for their work. On the other end, the article describes how certain issues surrounding blockchain can hinder its benefits, although with more growth, it can prove to be a major game-changer.
This article on Forbes.com talks more about the upsides of blockchain, and how it can help enhance the interaction between fans and artists.
https://www.forbes.com/sites/shermanlee/2018/04/25/embracing-blockchain-could-completely-change-the-way-artists-sell-music-and-interact-with-fans/#17c1acf21a25
“It’s time for a major change in the music industry! Blockchain developers, we need your help to empower artists worldwide. “ – Pitbull. Blockchain will certainly make it’s impact on the industry in due time. The second link unfortunately says in a good amount of time. Towards the bottom of this article, you’ll find links to websites regarding advancing the use of blockchaining for music or websites already using the blockchaining technology.
https://coinsutra.com/blockchain-music-industry/
I am all for artists and creators receiving proper compensation for their pieces of work. The blockchain is something I have heard about before but never really aimed to seek out more information on it. The video and article help me understand what it actually is, and why it is more beneficial to artists as opposed to labels. To be frank, I wish artists received MOST of their earnings, even when they are signed to a label. Like Lainey, I was also shocked to see artists might lose up to 86% with the way things are now. I think this is the future of pay, not just for artists, but for everyone. Cryptocurrency will take over the future.
Below is a link which tells a story of how cryptocurrency might not actually be as safe as some think.
https://www.prnewswire.com/news-releases/pay-the-devil-in-bitcoin-the-creation-of-a-cryptocurrency-and-how-half-a-billion-dollars-of-it-vanished-from-japan-300520798.html
I have to admit as one who is not as well versed in the area of technology as others in my class, I did have some difficulty gaining a complete understanding on how Blockchain would be the best way to go to solve problems that exist in the music business, especially in the areas of publishing and licensing, and collecting royalties. I have familiarized myself with bitcoin to some degree and since this article referred to it, I do think that before turning to a system such as this, there are some kinks to work out, such as: The amount of energy and expense it takes to maintain such a system, and the risk that exists in an environment without any regulation.
https://www.vox.com/conversations/2018/4/11/17206018/bitcoin-blockchain-cryptocurrency-weaver
Blockchain should work… The main problem I see is that the big music companies that would need to be involved are sloppy. Record labels failing to keep records of who they sign, GEMA failing to re-license music on youtube for 7 years. It just seems kind of ridiculous… Businesses should run professionally, especially when said business is in a big chain like the music industry. The music industry is like a living organism and it requires every part of it’s body to work correctly or else it feels pain. I think that Blockchain is an interesting and potentially revolutionary idea, I just hope that the correct companies let it. But of course everyone is worried about making money, so anything that seems like it’ll cost any amount of money is ran from like a monster threatening their lives.
Here’s an article I found describing the impact Blockchain could have.
https://publications.iadb.org/bitstream/handle/11319/8627/The-Impact-of-Digital-Innovation-and-Blockchain-on-the-Music-Industry.PDF?sequence=1&isAllowed=y
Like many other people have stated, I have never heard of blockchain prior to reading the article and watching the video. It seems like an interesting addition to the music technology realm but could present problems down the line. Right now the music industry is dealing with certain issues such as not keep all prior records, what consumers are willing to pay for, and increasing skepticism about any new changes that could benefit the industry due to the fact that it could hurt them later down the line. Due to this attitude blockchains probably won’t be relevant in the industry for a while.
Link: https://coinsutra.com/blockchain-music-industry/
In the article i found they explained more about how the music industry could be shaped by using blockchain and what steps the industry would have to take to maintain that new momentum.
One big issue when receiving royalties as a musician, either artist or composer, is the length of time that it sometimes takes to receive the correct amount of earnings. This process can take months to years. There have even been instances where compensations were never received at all. What I got from these links is essentially that there needs to be a better system for distributing rightful royalties. The entire system of copyrights, contracts and relationships between artists, labels and distributors is extremely complicated. In order for something like Blockchain to work effectively, all of these aspects would have to be taken into consideration. Digital currency is a great idea in theory to fix and properly pay artists instantly. However, it will take a lot of trial and error for the system to run smoothly. I do believe this is the future of how royalties will be received.
I read more about Blockchain to further understand what it is straight from the source.
https://www.blockchain.com
It appears that blockchain innovation that has contributed to many different industries, but the music industry is a different kind of beast. In its natural state, the music industry has always been nuanced when it comes to whose getting payed and how. But the leverage in holding the specialized knowledge is important for music companies to keep making money, and i think block chain is a threat to that. This is the main problem with blockchain in the music industry, it requires cooperation from companies that we’ve been asking for cooperation from this whole time.
Heres another article on some pros/cons of blockchain
https://e27.co/blockchain-can-cannot-music-industry-20180528/
It creates the impression that blockchain advancement that has added to various enterprises, however the music business is an alternate sort of monster. In its normal express, the music business has dependably been nuanced with regards to whose getting payed and how. Yet, the use in holding the particular information is critical for music organizations to continue profiting, and I think square bind is a danger to that. This is the fundamental issue with blockchain in the music business, it requires collaboration from organizations that we’ve been requesting participation from this entire time.
here’s an article I found that help me get a better understanding what blockchain is https://www.coindesk.com/information/what-is-blockchain-technology/
Never hearing of Blockchain before, this has opened my eyes to a new side of the industry! I enjoyed the way the article was written in a perspective of someone sitting in a London Pub comparing the industry veterans to the mafia, hahaha. I think the whole concept of the Blockchain is extremely interesting, because music artists are more often than not, never compensated for all the hard work they have put in to make music for us to listen to on a daily basis. I know that sometimes I don’t even think about what it is i’m listening to but someone did put in an effort to make that music. The concept of Blockchain is very iconic, if the industry aids it in working to its full potential. Everyone has to be on board or something like this could just fall through the cracks like many other attempts to compensation.
Here is a step-by-step guide to Blockchain for those who want to learn more about the process. https://blockgeeks.com/guides/what-is-blockchain-technology/
Blockchain is a technology I had no previous knowledge of prior to reading the article and watching the video. I believe it’s a great idea and solution, especially for artists so that they can be fairly compensated for their work. As stated in the article, there are various factors such as consumers’ reluctance to pay for music and coordination between global PROs before blockchain has the opportunity to become a mainstream platform. After reading and watching the article and video, I began to research actual companies that are supporting the blockchain database. The following article details a company called eMusic that has planned to raise millions of dollars to build a blockchain platform: https://www.billboard.com/articles/business/8467928/emusic-raise-70m-new-blockchain-music-platform
It astounds me that in 2018, we still don’t have a simpler way to pay people in the music industry. Even though it remains one of the most complicated systems in the copyright arena, it still seems over complicated. Now using digital cryptocurrency could actually fix this, but the problem with cryptocurrency is it is still a new medium in a lot of ways. So it’s not widely accepted everywhere and it complicates tax requirements for those in the music industry.
It’s tricky acknowledging each persons own faults in what the music industry has become, which is a rip-off to most artists. With issues like competing PROs unwilling to work together to move the industry forward and be more efficient, and then people like me who have been unwilling to pay for any music platform until a few months ago resulting poor artist compensation, we’re all the problem when it comes to implementing a better method of repayment to artists. With that in mind, I became curious as to what could motivate a change in consumers mindset that music is better free.
Here’s an article analyzing what consumers WOULD be willing to pay for in the music industry: discovery of new music.
https://medium.com/@glennpeoples/what-do-consumers-really-want-in-a-premium-music-service-2f7f57e000ef
Learning that the music industry is so corrupt that some people want to avoid the ‘revolutionary idea’ behind blockchain is astounding. The use of blockchain could be a huge step in the right direction and make the music industry way more reliable then it currently is. For years artist have been either not getting paid or getting paid the least for their work! It has to stop and Blockchain could help lead the music industry in the right place not only helping the artist get paid what they deserve but by bettering the foundation of the music business. I found an article that talk more about the economic of the music industry and how music fans constantly listen to free music without paying a dime. You can find it here: https://www.rollingstone.com/music/music-news/the-new-economics-of-the-music-industry-234924/
This topic went over my head as well but, It was an interesting topic to learn about and answered a lot of questions through researching. https://medium.com/dotblockchainmusic/a-your-song-name-bc-file-is-these-six-things-and-many-more-77d557cd686d.
Although, I still do not understand the blockchain fully. I believe it would be beneficial for the music industry and a solution to artists being paid fairly. I researched more benefits of blockchain and found the article below.
https://www.entrepreneur.com/article/306420