[2015-06-14] NewsBTC: What Can Bitcoin Do For The Music Industry?

[Grand_Voyageur]

What Can Bitcoin Do For The Music Industry?

The Bitcoin technology has a lot of applications, and the Music Industry is one of the areas where this new technology can bring up a lot of innovations. The underlying wizardry behind the Blockchain will enable the creation of a new ecosystem for content producers and consumers and to revolutionize the Music Industry.

The Blockchain is a digital ledger that is maintained by the users of the system.  The system uses cryptography and group consensus to avoid fraud and errors.

Before the Bitcoin technology there was no such thing as a non-duplicable piece of data, but now with the Blockchain content producers can develop ways to avoid unwanted duplication and illegal distribution, while acting as real proof of ownership.

Full story: http://www.newsbtc.com/2015/06/14/what-can-bitcoin-do-for-the-music-industry/

[Kprawn]

The music industry has a great deal to gain from the Bitcoin technology. Some artist already used the Blockchain to protect their songs from being stolen from other artists.

The micro payments can also enable people to pay a few satoshi's for every second they listen to the song OR they can pay only for one song on a album, if they liked it.

I can now see, how people will listen and pay for music per use and not having to own huge libraries of discs and files. 

[okae]

Full story: http://www.newsbtc.com/2015/06/14/what-can-bitcoin-do-for-the-music-industry/

really nice article, i didnt think on it before, ty for the link man.

The music industry has a great deal to gain from the Bitcoin technology. Some artist already used the Blockchain to protect their songs from being stolen from other artists.

The micro payments can also enable people to pay a few satoshi's for every second they listen to the song OR they can pay only for one song on a album, if they liked it.

I can now see, how people will listen and pay for music per use and not having to own huge libraries of discs and files.  

agree with you 100% the micro payments could be a very good solution for the music industry, as i always sayd, give me the oportunity of buy a cheap music disc and i will buy it, but dont expect that i buy all those expensives music disc...

[Carlton Banks]

Useless reporting.

The significance of cryptocurrency to the recording industry (notice I don't say "music" industry) is to give 100% independence to the recording artists.

In the beginnings of that industry, every single part of the production process was outside of the artists control, they had no choice but to submit to the decisions of those that could afford the whole range of hugely expensive and sophisticated facilities needed to put a record out.

Since then, there have been further sophisticated innovations to the equipment, but cheap and mass produced. This meant that by the 1990's, the whole process of recording and selling music was directly available to the artist; except taking the money.

Record labels, distributors, manufacturers, recording studios, and now payment processors, are no longer the only choice for recording musicians. I am eagerly awaiting the day when someone uses the opportunity this represents: in the year 2015, one person could produce a worldwide hit record, and they could do everything they need to get there all on their own.

[Balls]

agree with you 100% the micro payments could be a very good solution for the music industry, as i always sayd, give me the oportunity of buy a cheap music disc and i will buy it, but dont expect that i buy all those expensives music disc...

Would you really? I often here this line of reasoning but I think it's just an excuse. Even if CDs were just a dollar or two would you actually buy them when you can just download the album for free? Besides, CDs actually cost money to produce so I doubt they could sell brand new ones any where near that price.