Here is an post on Billboard.com i read which discusses the need for music companies to jump on board with the blockchain. I have to admit it feels good to see more and more information like this being made to the public. There's a change happening with a major shift that i've personally been ready and waiting for 😉 #music #blockchain
"This lack of information, or metadata, is what technology platforms often point to as the reason for not being able to properly make royalty payments. To make matters worse, labels, publishers and performing rights societies treat this information as proprietary and generally refuse to share it with those who need it.
Technology has the power to change this. Blockchain technology -- that which is used in bitcoin cryptocurrency -- can transform how we monetize digital music."
Blockchain is essentially a de-centralized ledger that tracks transactions over the internet (i.e., no one entity is responsible for maintaining the data). Its ability to support micropayments is perfect for the billions of transactions the digital music industry sees every day. The technology is also encrypted, so that each music file uploaded to the ledger would carry its metadata with it from every transaction. And because the ledger is decentralized and there is no single owner, the information held on it is accessible to everyone." http://www.billboard.com/articles/business/7759697/music-business-start-embracing-blockchain-dina-lapolt