Can Blockchain Make Music Great Again?
This article appeared Feb. 18, 2017 in CoinDesk.
In an article published on Feb. 18, 2017 in CoinDesk, Nashville partner Jason Epstein provides insight into how blockchain technology is beginning to emerge in the music and entertainment industry. Blockchain technology can't write songs or play instruments, but it might be able to ensure that those who do get the proper credit and compensation, a problem that has always been an issue in this industry. "One company's data will have identifiers for works, contributors, recordings and artists as one thing and another company may have different identifiers altogether,” Mr. Epstein explains. “Often, there are even conflicts with the data in the same company. For example, Chuck Berry, Charles Berry, and other variations on the name could all be the same person, but might have different identifiers. This makes it very difficult to identify the works and whom to pay.” Mr. Epstein also notes that there are many different data standards for blockchain as well as various and emerging blockchain business models. "It will take some time for those standards and models to develop before enterprises are willing to go all in, however change is inevitable and it is merely a function of how all stakeholders in the industry adopt." Click here to read the full article.