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Built upon models designed in a pre-digital world, the back-end infrastructure of the music business has failed to adapt to the needs of musicians, markets, and industry organizations. Systems of rights management, accounting, and payment distributions used in the industry have not upgraded along with the other internet technologies that have changed the industry, becoming a fragmented mess, leaving countless artists unable to make any sort of decent living off their work, and delivering equally-damaging blows to the profitability of record labels and publishers.
While the problems plaguing the music industry are broad and complex, the emergence of blockchain technology has been foreseen to be THE disruptive, transformative force in solving the challenges faced.
Upgrading industry infrastructures to register digital asset rights on a distributed public ledger in combination with a range of self-executable smart contracts is an innovative prospect, the effects of which are difficult to overstate. However, implementing such infrastructural developments throughout an entire industry is no small feat. In the meantime, strides have been being made by a handful of entrepreneurs leading the way in the space.
While my life's path diverted in a variety of interesting directions, there was always a magnetism to music that couldn't be avoided - and upon having dove into learning about blockchain technology and assessing the scope of its applicability, the clarity came:. There is a tsunami of transformation approaching the music industry, as blockchain apps hold some of the key pieces to solving many of the greatest challenges both artists and businesspeople in the music game have struggled with for years.
A turning point is upon us. And how the coming of the internet revolutionized the way music is distributed, so shall blockchain have as equally if not greater an impactful upon the infrastructure of financial flows throughout the music ecosystem in its capabilities for ensuring transparency in the effective compensation of artists for the value created through their work. While volumes could be written on prophetic outlooks for how the musical landscape will be changed with the innovations ahead for digital rights management, licensing structures, incentivized curation models, and more - this piece is a curation of the leading news and developments in the music-blockchain space.
What follows is an overview of the key players and projects or at least those who've made themselves visible to the public eye is breaking ground at the intersection of blockchain technology and the music biz. At the forefront of the music-blockchain movement as one of the biggest advocates, is Imogen Heap.
Leader of the Mycelia project and the first artist to have made an official music release on the blockchain last year with her track, "Tiny Human," a good majority of the news available on the subject features Imogen as one of a handful active in promoting the case for a blockchain-driven revolution of the music industry.
If searching YouTube for info, you'll find several videos of her going through much of the same content - though this is probably one of her best presentations worth viewing:. Benji Rogers, who also founded the music crowdfunding platform, Pledge Music , has also risen as a championing voice in the space with his blossoming project,. An interesting open-source development whose primary angle is establishing an industry-wide codec standard to hold a blockchain-registered collection of metadata within a music file, which can then be utilized in the execution of smart contracts drafted for the licensing of the digital music asset.
Again, there are a few YouTube videos available of Benji talking on the matter, though this is one of the best:. While Imogen's Mycelia project has been collaborating with another platform for her next blockchain release, Amuse - a Sweden-based venture that seems to have been getting its start primarily with artists from throughout Africa - Ujo has undoubtedly been one of the top visible developments receiving the most press.
In this video, Jesse Grushack of ConsenSys, the Ethereum developer team leading the Ujo project, gives an excellent overview:.
This is another great video on Ujo from Phil Barry, who while was the frontman for the project, has since parted ways with Consensys and is focusing on a new project, Blokur:.
More on Muse in another Forbes piece:. And more on PeerTracks: Given the video came out a couple years ago, it seems progress with PeerTracks may have been going slowly.
Another leading venture that hasn't received as much attention, though appears to be holding promise behind blosed doors is Another platform that appears to be ahead of the curve, covered well in "Blockchain-Powered Stem Raises 4.
For some great insight into this project, check out this excellent blog post from co-founder, Milana Rabkin, speaking to the core mission and heart-based reasons for such a development:. One other newcomer to the scene is Tao Network. Though as to how this one will roll out, time will tell. And last to mention of these types of artist-to-market platforms, the Decentralized Library Of Alexandria.
More info on this available in a Steal This Show podcast and a news release from April , their coverage in Vice , or this YouTube vid:. And if all checks out and looks worthy of further support, there is a bigger crowdsale to follow.
With huge corporate streaming services taking some heat lately for making billions in profits while paying artists fractions of pennies, it could be cool to see what comes of this alternative system. There has also been forward movement to implement blockchain technology in the radio side of the industry, best introduced here:. Blockchain" event held earlier this year:. Also some perspective from native Steemian and Platinum-selling artist, thisisbenbrick: While its unclear at this point how exactly things shall all progress with different startups taking varying approaches, there are also some larger-scale collaborative alliances being formed to develop an ownership rights database for the entire industry:.
AND, last but not least, is the Fair Trade Music initiative that is a growing organization working in harmony with a few of the other groups mentioned above as well as numerous songwriter guilds and behind-the-scenes players on industry-wide solutions. Lastly, two great videos from the Midem conference with a guest panel of some of the top players in the space some mentioned above, others not:. Feel free to research more, though at this point, most of what is available is just different rehashes of the above content.
Though if you do happen to know of any other music-blockchain projects, initiatives, or developments that haven't been covered here, do please add to the comments below. Dear Rok Sivante, I have documented every good article, video or report on blockchain and music in last one year and I thought that i have the best information with me but you have literally beaten me with your so much uptodate information and links.
It is a way ahead of what i had gathered. Great work, my dear. It shows how involved you are on this front on a day to day basis.
There it too much corruption in the music industry today without the blockchain, especially in the fact that the musciansa are not getting what they rightly deserved. Let's see where this goes Are you involved in any of these projects? How do you think someone can get involved or help in this particular substrate of the blockchain movement?
I'm not involved in any of them. I spent some time researching this all, though didn't feel there was too much easy opportunity to jump in anywhere specific and get involved, as it seemed to be mostly team-run projects that had their biz going on fine by themselves. That's what I had in mind, though didn't flow as planned, although all good You did an exhaustive research on the topic.
I value your effort. Muse has a great trademark name for itself. Hope the project goes forward. Token is dirt cheap as of june Dirt cheap cuz its probably worthless. I havent heard or seen anything suggesting they are moving forward, removed all from my portfolio long ago. If you hadnt read my last post on the topic yet, these are some key updates on the space: Music On The Blockchain: While my life's path diverted in a variety of interesting directions, there was always a magnetism to music that couldn't be avoided - and upon having dove into learning about blockchain technology and assessing the scope of its applicability, the clarity came: If searching YouTube for info, you'll find several videos of her going through much of the same content - though this is probably one of her best presentations worth viewing: Benji Rogers, who also founded the music crowdfunding platform, Pledge Music , has also risen as a championing voice in the space with his blossoming project, dot blockchain music An interesting open-source development whose primary angle is establishing an industry-wide codec standard to hold a blockchain-registered collection of metadata within a music file, which can then be utilized in the execution of smart contracts drafted for the licensing of the digital music asset.
Again, there are a few YouTube videos available of Benji talking on the matter, though this is one of the best: Jumping back and forward In this video, Jesse Grushack of ConsenSys, the Ethereum developer team leading the Ujo project, gives an excellent overview: And two other articles covering Ujo worth reading: More on Muse in another Forbes piece: The two contenders have also gotten their press in Billboard with the article, " How 'the Blockchain' Could Actually Change the Music Industry " Another leading venture that hasn't received as much attention, though appears to be holding promise behind blosed doors is For some great insight into this project, check out this excellent blog post from co-founder, Milana Rabkin, speaking to the core mission and heart-based reasons for such a development: More info on this available in a Steal This Show podcast and a news release from April , their coverage in Vice , or this YouTube vid: In the domain of music curation There has also been forward movement to implement blockchain technology in the radio side of the industry, best introduced here: Blockchain" event held earlier this year: The Open Music Initiative A couple key articles overviewing the scope and aims of the project: Lastly, two great videos from the Midem conference with a guest panel of some of the top players in the space some mentioned above, others not: So that's about that.
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