Can crypto and distributed ledger technology help improve the music industry?
Currently, the blockchain technology on which cryptocurrency is based is used not only for digital money, but for many other aspects of people’s lives. Blockchain has become a very attractive technology for the music industry as well. With the help of the blockchain, music streaming processes, monetization, arbitrary modifications of content, mediation between creators and their customers, etc., can be improved. Also, using Bitcoin for music purchases can be much more convenient because of the possibility to convert it into any fiat currency without the need of leaving one’s home, fast transactions and relatively law payment fees. Every musical record made in a blockchain for music consists of the owner’s data, the copyright and other information in such way that everyone can see it.
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