[2018-03-04] International Music DJ Brings Blockchain Project To Music Industry

[jamids]

Since the digitization of music, the need to find new methods of access and distribution to music has become more prevalent. Since the birth of Napster, Kazaa, and Limewire, the music industry has taken a hit in terms of music sales. Listeners have easier access to content, while the creators of said content aren’t necessarily getting the bang for their buck.

So, how does introducing blockchain technology affect the accessibility and distribution of music? I turned to international house music DJ, Gareth Emery, and why his latest project, Choon, is the music industry of the future.

Andrew Rossow: What do you believe to be the biggest challenge in the music industry?

Gareth Emery: It's never really adapted to deal with the internet. Twenty years ago when Napster first appeared, the music business was one of the first to really be disrupted by this online world.  The industry went from making money selling vinyl’s and CDs…to [digital] downloads, and now we are in a phase of streaming. Napster changed everything.

While there's been good progress made, the problem lies in the structure of the industry itself. "With each move forward, the artists get more and more sidelined, as music becomes more inaccessible and the structure remains antiquated." said the artist.

Emery: We have a system that was set up in the days of jukeboxes and sheet music. It’s completely unfit for purpose in a modern world–it’s incredibly long-winded, and there’s no way to really track the monies being paid to people, fairly.

Emery isn’t the first artist to take issue with payment distribution in the industry. We’ve seen artists like Taylor Swift and JayZ take strides towards bringing the artist and listener closer together without the need for middle institutions.

Emery: For me, the next evolution of the music industry is one where music is accessible and easy to get hold of, like it is now. [But] at the same time, one where content creators are getting compensated for their work, not the intermediaries laying claim to most of the income. Let’s not try and build on the infrastructure we currently have; it’s not a stable platform to build on. Almost any attempt to modernize the music industry has failed due to the large number of stakeholders.

Users and fans will be able to purchase music by using the NOTE token. It’s the music industry of the future,” said the DJ. The note provides for an immediate flow of payment, from the listener to the artist, with complete and utter transparency. The listener can withdraw it and either cash it out, or convert it into another coin (bitcoin) through exchange platforms.

More here: https://www.forbes.com/sites/andrewrossow/2018/03/03/international-music-dj-gareth-emery-brings-blockchain-project-to-music-industry/2/#785ef3f5552b

[superjeyy]

Glad to see how the world is slowly accepting and leaning to the use of blockchain technology in branching out to different platforms such as the music industry. Just goes to show how flexible this kind of system is, as it can be used in different aspects. Hopefully, this action would be the start of incorporating such platforms in other industries so that adoption of the use of cryptocurrency and blockchain would be widespread. May this project be a success!

[CryptoBry]

The world of music, its distribution and the way income is generated and shared will all be undergoing many changes with the use of the blockchain technology. At least, there must be a way where the content creators are the ones who are benefited most and the one who has the power over their generated content away from the controlling interest of those intermediaries traditionally pulling all the strings since time immemorial. Music is very big market and it can be more exciting with the coming changes...we just hope that the market will be appreciating these changes.

[laurenB7742]

Never heard of NOTE token before. I need to look it up.
But generally I am against all these platforms where you need to pay for songs. Prices are way too expansive, a dollar or even more for one track?! I would need to pay 1000s of dollars if I payed for all my songs.
Artists should make money by live performances, from selling merch, from sponsors and so on. But not by selling their digital copies of songs. Long live digital piracy!

[d5000]

Users and fans will be able to purchase music by using the NOTE token.

Another project with very, very questionable success expectations.

Above all: Why do you need a specific token for a specific niche market? I never understood the reasoning behind that. The only reason is likely that the platform wants to "crowdfund" some funds. Because otherwise, they simply could use one of the 1000+ general purpose cryptocurrencies.

People will never remember all these tokens (will the future^TM be "one token per product" or what? ). If cryptocurrencies become popular, and only then, there's a chance that music and other digital goods can be massively sold in cryptos - but people simply will want to pay their music in Bitcoin or another one of the bigger cryptocurrencies. There could be limited use for some tokens with a B2B focus and some special features needed in certain financial markets, but even those can be mostly replaced with general-purpose smart contracts.

[European Central Bank]

Another project with very, very questionable success expectations.

Above all: Why do you need a specific token for a specific niche market? I never understood the reasoning behind that. The only reason is likely that the platform wants to "crowdfund" some funds. Because otherwise, they simply could use one of the 1000+ general purpose cryptocurrencies.

People will never remember all these tokens (will the future^TM be "one token per product" or what? ). If cryptocurrencies become popular, and only then, there's a chance that music and other digital goods can be massively sold in cryptos - but people simply will want to pay their music in Bitcoin or another one of the bigger cryptocurrencies. There could be limited use for some tokens with a B2B focus and some special features needed in certain financial markets, but even those can be mostly replaced with general-purpose smart contracts.

yep. it's ludicrous and if these people had any faith in their idea they wouldn't be touting this.

there'll come a point, and likely soon, where people see straight through icos for what they are - nothing but a dead end cash grab. they'll become a liability.

i thought imogen heap was the one doing interesting things with blockchains and music distribution but that seems to be in stealth mode for now.

http://myceliaformusic.org

[Aandosq1]

kemungkinan musik dan barang digital lainnya dapat dijual secara massal di kripto - namun orang hanya ingin membayar musik mereka di Bitcoin atau salah satu kripto yang lebih besar.