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How blockchain can change the music industry

techcrunch.com

2 points by warrenmar 9 years ago · 2 comments

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pedalpete 9 years ago

I don't understand the bit about music being unpiratable due to blockchain. Just because the music is there, doesn't mean it can't be taken from there and played somewhere else.

I do think the idea of micro-transactions could solve the problem of the convoluted rights contracts in music.

We currently work from the assumption that a song is recorded and a contract exists between the artist and maybe a label and that those are the two parties which get paid. In actual fact, the deals are much more complicated than that. Sometimes the studios get a cut, sometimes the graphic artist who did the cover work gets a cut, songwriters, managers, back-up musicians, it is very complicated.

If each song on the blockchain acts as a contract with the details of who gets what, this would make the buying and selling of music on a massive scale much simpler.

  • davidgerard 9 years ago

    More than 1 million songs are released annually to the digital stores. How long would these contracts be?

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