The future of the music business is about to change with cryptocurrency making headlines and the Blockchain technology making advancements every day. Blockchain technology has the ability to advance the creation of music and the distribution of music for music artists, music publishers and record labels. Cryptocurrency will play a big role in the music industry in the upcoming years. Blockchain technology works like giant spreadsheets and it is the technology utilized for cryptocurrency and without the technology, cryptocurrency would most likely be impossible.
Cryptocurrency in Music
In a data-driven world, Cryptocurrency and blockchain technology is sure to have a future in the music industry. We all can see the music industry’s business model is evolving. However, when it comes to the music industry and finding use for blockchain, there are only a select number of companies have been able to truly succeed in establishing a solid footing.
Cryptocurrency and Streaming Services
With cryptocurrency. musicians and songwriters may be compensated more fairly than when working alongside major music streaming platforms in the industry such as Spotify and Pandora.
From Initial Coin Offerings (ICO’s) to music companies of all sizes looking to create “tokens” and raise money for startup businesses, allowing investors to buy and sell the tokens in the same manner they might buy and sell shares of a stock.
Transparency Within the Music Industry
As Blockchain Builds Trust With Transparency the music industry looks to Music, blockchain and cryptocurrency within the music industry in 2018 with extensive coverage by New York Creators including updates and progress in the blockchain and music industries respectively. With blockchain technologies aim directly on shaking up the music industry with interruptions with smart contracts specifically.
What is a smart contract?
Unlocking new finance opportunities for music artists and songwriters in 2018 with New York Creators look at some of the best new technologies available in music industry. Reimagine the Music Industry in a Data-Driven World