Did Napster really kill off the music industry? Well, it’ll depend on the person you’re asking. Like, some people will be affirmative to the question. However, people like me might argue against it and consider it a revolution of peer-to-peer music-sharing platforms.
But, there’s something we can say for sure – it did change the music industry to some extent, just like blockchain. Let’s keep reading to find out more about it.
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Blockchain And Music – How Do They Fare?
Working in the music industry isn’t something you’d call a “walk in the park.” After all, it’s being plagued by various issues. Here are a few of them.
- Even though the music industry is pretty beneficial from almost every viewpoint, the artist can keep only a tiny portion of that.
- The modern music industry demands a finished product from every viewpoint. Hence, if you’re not making too many sales from it, you’ll be signed off of your contract.
- The creation of an artist can easily be stolen, even in today’s world of technology. So, many people tend to lose their money due to this reason as well.
However, these issues are something that can be changed by blockchain pretty quickly. All you need to do is to accept the tech as your partner-in-crime, and that’ll be all.
Benefit – 1: No More Alteration Of Music.
With blockchain, you can assign your creation with a brand new and unique ID. And, as it’s already saved as a block on the ledger, it cannot be changed by anyone.
Therefore, no matter who tries to take the music from the source, they’ll have to buy it as a whole. There’s no way they can cheat themselves out of it.
Benefit – 2: Direct Compensation.
Previously, as a music creator, you’d have to get your money from the record you’re working with. Hence, the amount of money you were supposed to get wasn’t really in your hands.
But that isn’t how blockchain works. Due to its decentralized…
