Blockchain technology is changing the face and functioning of various industries across the world. Most industries see trust, transparency and accountability as major pain-points, and by the very virtue of Blockchain being able to establish a system that is decentralized and open, myriad issues can be resolved as well as innovation can be fostered by the inclusion of this technology to conventional systems and traditional processes.
In this special series of 'Blockchain Transforming Industries', we take an inside look at the wonderful possibilities offered from a Blockchain disrupted industry as well as analyze some real life use cases in said industry.
We previously saw the merger of Blockchain with the Healthcare industry in 'Blockchain Transforming Industries:Health-Care. And we also looked at some real-life blockchain health solutions in 'Blockchain Transforming Industries:Health-Care (Part 2)'.
We also saw how the Music industry can be benefited by the inclusion of this public digital ledger in 'Blockchain Transforming Industries:Music'.
Blockchain in Music
Today, we dive deeper and elaborate on various tech implementations that are being readily applied to this multi-billion dollar industry in an effort to address the various growth and scalability issues that it faces.
The power of innovation and access to a disruptive technology has allowed a plethora of amazing options to be opened up and we witness below the various companies and groups that have rallied to offer inventive solutions to different aspects of the Music industry:
Voise
Decentralized music platform on the blockchain
Voise is essentially a collaboration-oriented peer-to-peer market for creatives, offering full ownership and control to artists over their music in hopes to let them monetize and gain maximum profit from their work. It provides downloading as well as streaming options to users, and accepts payment options as fiat in addition to cryptocurrency in order to reach a wider audience.
SingularDTV
Entertainment studio on the blockchain
Based on the ethereum blockchain and with the aim to develop a decentralized music industry, Singular DTV offers a platform to artists with access to a plethora of inventive tools that lets them handle the music industry value chain right from content generation to distribution and marketing. With the backing of several award winning creatives, it is set to disrupt the music industry in a massive way.
Mycelia
Blockchain collective of professionals, creatives, and music lovers
Founded and backed by Grammy winning artist Imogen Heap, this company is focused on blockchain based research centered on the Music industry. Its goal is to help in a seamless transition for artists not familiar with the crypto world from an old unfair system to a new transparent one that cuts out the middleman and puts focus on music.
Zimrii Music
Blockchain based global music platform
This company based out of Australia will not only allow artists to sell their music on the blockchain, but empowers artists with various options like real-time music smart contracts, music analytics and copyright management as well as option for crowdfunding their work.
Resonate
A cooperatively owned streaming music service
The basic premise of this platform focuses on the idea that every participant in the streaming system is a co-owner, allowing all entities to have a say in the future of the service. It drives this with low usage costs to listeners and higher loyalties for musicians, and hopes to sustain the ecosystem by granting listeners ownership option to the songs through repeat streaming, thereby encouraging higher involvement from returning customers.
These are few of the ongoing innovations in the Music industry.
There are many more solutions in this space like musicoin, bittunes, peertracks, dotblockchainmusic, etc. With popular artists and renowned companies backing more of such ideas, we can expect to see several emerging solutions in this field.
Transforming the Music Industry
The music industry is big and diversely populated. Leveraging the blockchain can help streamline and scale the functioning of this massive industry and at the same time offer the artists and technicians inhabiting this domain a more transparent system that is more fair to their talent and their resources.
Not only that, interactions with the music industry in the form of content generation as well as access to it can become a quicker and more fruitful experience with immutable records of music on the blockchain addressing problems of piracy, rights management and licensing while at the same time being capable of handling the ginormous amount of data.
The need of the hour, with growing debate over the payments deserved by artists as well as concerns over right to content, is for the music industry to be fair and sustainable. And with Blockchain technology being the agent of change that easily fits into the scheme of things, it is only a matter of time before it is widely accepted and globally adopted.
Keep an eye out for the next blog in the ‘Blockchain Transforming Industries’ series as we cover a new industry.
Authored by: @jznsamuel
i love music
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Good post...informative post to open my mind...and i go to explore thank you @adsactly
:O
informative post with valuable idea.and the most important matter you have share it with us.thanks a [email protected] @agungpriambodo for appreciate it.
Your welcome @mdsajjad
thats my plessure
Blockchain technology has brought tremendous transformation so far and surely it is the way out of poverty. @adsactly always pointing out the way. Thanks for sharing
yap he is sharing his all blockchain knowledge with us
Music on the blockchain, what an interesting concept.
Very interesting, good post and I like, hopefully the next post better with a more perfect idea. follow me @pn09s, Upvote and give a positive comment for me.
https://steemit.com/education/@pojan/personality-is-very-necessary-to-know-and-learn-because-the-personality-is-closely-related-to-the-pattern-of-acceptance-of-the
How about https://dsound.audio/ ? It's like SoundCloud yet based on Steem!
Things is getting interesting 😍😋
A very informative post. Great job. Keep it up!
You've posted a lot of beautiful ones.
I liked your post.
Please upvote and comment in my post. And I will replay my comment.
Nice
Blockchain Music, wow Good that is very intersting.
Good post:)
blockchain is making change which is a good news for the blockchain users,i am excited after reading this and a little bit crazy,,thanks for sharing with us @adsactly
Blockchain is bringing changes in every sector of our life. More people are joining this decentralizing platform day by day.
Thanks for this wonderful post which describe the acceptance of blockchain technology in musical arena.
i love music...thanks for sharing
Nice post
Thanks for sharing
verry interesting song....informative post.. Keep it up!
nice post but with sorry u can do more best in the post. i see many improvement in the post if u make it sirursly .
nice bro, you are greate.welcome my profile@mozammel
Add sine.media and dtube to your list. Sine comes out next year. Good post though. I'll check out the ones you listed.
0.99% @pushup from @slavix
This is so interesting! Thank you for sharing :) Music is everything.
@adsactly Great writeup on the blockchain and it's influence on the music industry!
Thanks for this. Interesting as I'm just starting to look into getting some of my husband's original music online (it's so awesome it should be shared!). Had a look at musicoin but will perhaps check out some of the others that you mention. Be interested to hear of anyone's direct experience with them. be lovely to get his music out there but need to make sure I'm protecting his copyright etc! Thanks.
I've always wonder what services are already built for blockchain and which are not @adsactly thanks for this article :)
The best aspect of all this is that the artists can get the lion's share of the proceeds from their music as opposed to the record labels taking most of the money.
This industry is renowned for screwing most all musicians with the exception of the top acts. I heard that most bands do not make any money until their second album...hence one hit just goes to pay the bill.
Of course, I am sure the record labels clean up on that but that is par for the course.
Hi @adsactly, i have followed you. . . Thanks for sharing 👍
The thing I enjoy most about Steemit is that I am daily learning new things! I'm happy to have come across your post and read about the transformation of the music industry. I have not been paying much attention to what is happening with music! Thanks!
To be honest I am not seeing a lot of transformation in the music industry right now from blockchain. There are some cool services out there, like the upcoming UjoMusic alpha (referred to in your post by its old name 'Mycelia') - but most of what I am seeing is focused on the artist side.
Until there are blockchain platforms that run as smoothly as Spotify and offer a similar variety of music on a cryptocurrency model... it's going to be hard to generate real revenue from blockchain. I feel like we have a few years to go.
This is so great, take it from someone who has been in the music industry for a little bit, and have had issues with people either claiming my music or not ever getting paid by the record label or YouTube even has put copyright claims on my music that I own personally of course because I made the music myself and I so I have to go through and deal with these copyright claims when it's just my music and I don't you know I should have to worry about that sort of thing but with this technology and it looks like things are going to be very different and I'm super happy too and I'm glad to know about these Technologies where was actually inspired me once again to get back into music and not feel like it's just a really a waste of time even though I really enjoy making music and you know there still has to be some type of support system in this is a good support system for each and every artist that has struggled in the past or is still struggling because you know it's not easy these days technology the way it is. Thnaks so much for your research and post. Be well @adsactly
Nice we have resteem it!
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This will do good in the future, some of my countrymen are
on board with this project. Let see where it takes us:))
Steem on!
Hi ,
Very interesting read, Thanks you for sharing it!
I just did my Steemit Blog Post on Vezt - A coin that is revolutionizing the Music Industry and might be the future
(https://steemit.com/music/@cryptosignz/vezt-revolutionizing-the-life-of-an-artist)
Limitless Potentials .. :)
Upvoted and resteemed! Consider doing an article on the Blockchain transforming the science industry?
Great post. As an independent musician, songwriter and producer, the blockchain system is a breath of fresh air. I'm always looking for informative views and new opportunities with blockchain. So thank you for the information! I'll be checking out the platforms you presented!
I like it
😍A very informative post. Great job. Keep it up! 😍
Great post sir I follow you
Voise seem to be a very great project, It might better work on SMT's or a Steem fork. It is a bit annoying that Voise is an hybrid system working on Ethereum and a weird storage system.
DSound seem to be more efficient.
DECENTRALISATION^^
Can't wait for blockchain-based health-care and government.
Great article, part 1 and 2. I found it to be a good taster with insight into whats coming. The change of tide will be gradual and may have some unexpected twists but as a working musician and crypto advocate I am hopeful for the future. I envision a 5 year process maybe even 10 before a dominant force emerges. What do you reckon?
I adore music
@adsactly thank you for this super informative post, you put me in the right direction to where to look for moving my music to decentralized solutions and the block chain. Kudos on amazing work, please do more
Not long ago people were getting sued for copying music that was placed on the internet. the music industry was abusing musicians and music purchasers. Eventually they stipped and realized that they could just charge a price to download music. Blockchain can revolutionize the music industry for sure. Amazing that it has the possibility to make individuals music their own, the artisits can make more money and the listeners will get a better deal and then some. Loving Blockchain. I really hope his goes far. I am very excited about Blockchain.