[2016-10-08] How blockchain can change the music industry

[CrimBit]

Since the 1999 launch of Napster’s music-sharing platform, the music industry has been in near-constant turmoil, its timeline marked with dipping revenues, lack of transparency, piracy problems and feuds over the fair distribution of dividends.

Music companies hate streaming services. Streaming services hate file-sharing services. And, most of all, artists and content creators hate virtually everyone else for making huge sums off their toil and feeding them the crumbs.

With so many conflicts of interest, there seems to be no one service or business model that can work in a fashion that satisfies the needs of all the parties involved. But now, after years of suffering from a thorny and complicated relationship with the tech sector, the music industry might finally find a chance to head in a positive direction by leveraging the blockchain, the technology that powers the bitcoin cryptocurrency.

https://techcrunch.com/2016/10/08/how-blockchain-can-change-the-music-industry/

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[philiveyjr]

Not exactly sure how this would solve the problems. The article talks about the blockchain allowing for a more better environment between consumers and artists, but don't Itunes and Amazon music already allow them to do that, except for the fact they also charge a heavy fees from them. However there are online stores which don't, but they haven't been famous yet.

[Dassi]

I suppose the blockchain will help reduce piracy by restricting unauthorized access. But it can't stop pirates from burning the music into a CD and making mass copies of the content.