Music Technology on the Blockchain
music·@playitforward·
0.000 HBDMusic Technology on the Blockchain
<center></center> ## <center>Music Technology on the Blockchain</center> ------- It's been said by many cryptocurrency and blockchain enthusiasts in the music industry that music and blockchain technology go hand in hand extremely well. I wrote a post about this several months ago about what I could see potentially happening with blockchain technology and how it could craft the music industry with it. We're beginning to see the early seeds of that idea now being implemented into these new budding and blossoming uses. ## DSound ------- Many of us are all too familiar with DSound. I figured I would iterate a little more just so that those who don't understand it can get a short sense. DSound is a decentralized web app to allow users to upload, listen and discover new music created by musicians on the Steem blockchain. This allows authors to receive rewards in Steem Dollars. https://dsound.audio/#!/feed <center></center> <center>[Source](https://steemit.com/dsound/@coinbaba/what-is-dsound)</center> ## Musicoin ------- Musicoin is an public, open-source, and blockchain-based platform for musicians to share music. What's more, is that because of the blockchain tech, it is able to have a smart contract system that automatically divides the "royalties" earned based on % of the musicians share. This is a fork of Ethereum. https://musicoin.org/ <center></center> <center>[Source](https://musicoin.org/)</center> ## SingularDTV ------- DingularDTV is a blockchain entertainment platform that is beginning to lay down a method for decentralizing the entertainment industry. Their tech includes rights management, project funding, and peer-to-peer distribution. It's compared to YouTube, Kickstarter, and Napster all into one portal. Each individual can use Tokit to create their own tokens as well as sell their own content on the Ethervision portal. Imagine an entertainment industry where creators retain control and profits. <center></center> <center>[Source](https://singulardtv.com/)</center> ## ConsenSys Suite ------- https://consensys.net/team/ The main mission of ConsenSys is to create simplified and automated applications that are completely decentralized and help with transactions. This includes smart contracts, cryptocurrencies, and asset ownership apps. Due to lower fees for exchanges, more money will begin to flow in the creative economy and creative industries. Naturally, ConsenSys says that musicians are the greatest asset to the music industry. An industry which doesn't directly benefit musicians. This is aimed to help pay artists fairly and value the creations on another level. This is worth keeping an eye on. They have an enormous team working to make their goals become realized. ## dotBlockchain ------- Simply put, dotBlockchain is a company that is taking digital music infrastructure and reintegrating the way metadata will work. The current system of royalties works in a way that allows millions of dollars owed to artists to just slip through the floorboards of Performing Rights Organizations. Often this is because large companies like Youtube and Spotify don't know who the content belongs to or who to send the money to. The money is just locked up in these black holes of lost revenue. .BC format has information rights, licensing details, terms of use, all of that is built into the file's metadata. Because of this, publishers rights are easy to access and people can get paid more surely, fully, and readily. Even as DJs take this format and chop it up, sample it or recycle it, it will be able to retain the information originally use to generate how much is owed to that sample-owner. https://www.youtube.com/watch?v=PH5gi92tXyE A few runner-ups: - Resonate is a music streaming platform using a system that has users pay for what they listen to on a scale of how much they listened to it. Built on the blockchain, the artists get paid directly for how much their music is heard. - Storj is a decentralized network for cloud storage. It's about $.01/GB storage per month. About $.05 per GB downloaded. Their long-term goal is to use their platform for blockchain based apps to store content and projects. - BitTunes is a digital music sales network where an artists gets paid on the blockchain for every song downloaded. - Custos created a system to trace pirated or unlicensed content back to it's source by rewarding users tracking the files with payment. ## My Thoughts ------- It seems blockchain technology is built for the music industry. I say this because it solves several problems plaguing everyone from the small to the large players. It eliminates middlemen and removes the influence of the gatekeepers in music. Basically, artists won't need to rely on their record label to raise funds. Tokenization takes care of this Distribution through blockchain allows artists to make their own deals on streaming platforms. Artists should earn royalties on their own terms. Artists can be paid directly for their royalties and instantly without a mistake. This is going to potentially put Performing Rights Organizations out of business and be dramatically more efficient. I assume this technology won't come without a significant backlash as there's lots of money to be made by those guys! Artists are enabled to earn money from buying tokens of other artists and there's a small crypto-stock market type scenario in the industry of people supporting each-other. Not to mention these tokens make their IP (Intellectual property) something tangible and a financial asset that can be given a monetary value. Creativity can now be quantified? It's still subjective, but it's a step. Value is derived from an artists work. Smart contracts allow artists to deal with the headache of the business side of things in simpler ways, and the bots / computers take care of the rest. Complex filetypes that allow people to take samples of music and cut them apart, but the meta-data still remembers who owns that sample and how much of it is being used in a track. I want to note that, this will only make sampling more fun. Because it's traditionally free to do, I think supporting people making the samples could lead to an even larger sampling economy with more artists making just purely usable samples for music to be made from (I probably would). Bigger yet, artists who were unable to even have bank accounts in developing countries can now become influencers and earning $$$ rightfully so for their creative contributions. This is going to create new genres, new collaborations, a new international music industry that isn't reliant on any particular big fish. --- ## <center> Music is a ticking bomb about to burst right now, and blockchain is the fuse. </center> --- <center></center> <center>[Source](https://www.influencive.com/7-predictions-blockchain-technology-2018/)</center> What will happen when or if studios or labels start adopting blockchain technology? Would you buy the BIEBER, WEST, or KATYPERRY coin? I just made those up, just wanted to get everyone thinking. ### Steemians, do you know more uses of blockchain on music? I'd love to hear your thoughts! <center>[](https://steemit.com/@playitforward)</center>
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