How the Blockchain will Disrupt the Music Business

Crowd at music concert

http://www.wired.co.uk/article/blockchain-disrupting-music-myceliaIn 2018, blockchain will create a new wave of major disruption in media-content distribution. The immutability and “trustless” nature of the blockchain means that it can be used in instances where record-keeping and auditable data is key, including data about who owns what assets, such as music and movies. Once you have verified the validity of an asset entered into the “chain” in the first place, continuity is ensured from then on. Read more at wired.co.uk

This is a great article of how music startups and distribution networks that use blockchain technology will revolutionize the music industry. Currently, there are many “middlemen” in the music industry that create a lot of red tape and administrative costs associated with managing intellectual property rights and royalties due to artists. Blockchain technology helps take out the “middlemen” and the costs that they bring to the artist —> listener relationship. This should equate to more money for artists and songwriters.

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