There are a lot of conversations about blockchain on the internet, mostly in reference to bitcoin, banking or that it’s simply “the future”.
Block chain is too complex to explain for the scope of this article so let’s focus on one simple feature: it allows you to make a digital file that can be moved but not copied to another computer or phone, making a commodity out of that data.
Prior to the MP3 or digital subscription services such as Apple Music or Spotify, a musician got paid about $1 for the sale of a record, tape or CD.
If 10,000 CDs were made and sold all 10,000 the artist would receive about $10,000 to live off of and write more awesome music. Since the music was on a physical product, it made it much easier to move or purchase a new copy then to copy the music, somewhat protecting the artists royalty.
With the advent of the MP3, one could simply copy the file and download it – it could not be traced to the person downloading it easily and the artists royalty was never recovered. This has created a culture where artists have no finical incentive to make music vs. being a bricklayer and music does not command the marketplace value of what the artist put into it. The end of that story is a cultural void of new and vibrant music.
By incorporating block chain into music an artist can make a song, equivocally produce 10,000 mp3 like flies and sell them for $1 a copy. Once a person has received a copy of the song they purchased, it can be played on that users phone or computer.
If you want to play that song on a friends computer or phone it has to be moved from its current phone or computer or another copy has to be purchased for that computer or phone. It cannot be copied.
This creates revenue for the artist with the added benefit of not requiring the overhead of a music distribution company.
As yet, I have not seen major applicable use of blockchain and music; I would guess because incorporating blockchain in music files is primarily in the interest of the artist. There are a few organisations that are working incorporating blockchain into music including:
What do you think? Check them out and leave your comments below!