Blockchain in Music
This is a quickie motivational blog. Its motivational in a sense it is a precursor to other work to be done. It is also a quick review of an article form a personal perspective, I have limited knowledge of blockchain technology. Considering the recent spike in INTEREST IN THIS technology I wanted dive in a bit and explore the fundamentals of the technology and possible application solution opportunities.
Illegal use of content especially when it comes to music has been an issue for some time now. It is claimed that blockchain technology can solve piracy issues in digital music. I assume the technology can be effective where security is of the highest concern in the content transaction.
Ben Dickson @BENDEE983 at TECHTALKS SAYS BLOCKCHAIN COULD completely transform the music industry. Blockchain technology solutions can be applied in three areas. The first is licensing and rights management. Many start up and nonprofits are testing this area. The idea is once it on the ledger the owner is known to the public and innovations in smart contracts can enable users to license the music for various purposes.
It is happening at 193 words on page one of my blog. It beats playing chess online.
The second area is in removing intermediaries. This timeless concept of feeding the producer more than the middleman can simply be done yes you guessed it. It’s done none other than removing the middleman. The things you can do in an hour. You can fly from DC to NY I less than an hour. You can do a lot in an hour if you are not distracted
The third solution blockchain technology in music is piracy. Every instance of a song played is a unique record on the blockchain, and any content removed or “ripped” from the codec would be unreadable to the player. I can’t help it.
The above is quiet a list. I can imagine some major opportunities that realm. It helps to understand the fundamentals of the technology as related to specific industries.
Blockchain technology won’t be limited to cryptocurrency. Even your old school brick and mortar credit union will eventually jump on the bandwagon because the technology it seems for now is unmatched when it comes to digital security.
There are implementation challenges out there. That is the work. I have to say its interesting. Block chain implementation strategy your choice of industry is a topic to explore.
What do you think? Where do you see this going?
Right now, you can buy Bitcoins for cash at an ATM on 14th st nw located inside an Amsterdam Falafel shop. The falafel guy knows about it. You should too.
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