Music Industry and Blockchain based smart contract
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Authors
Althaiban, Mohammed
Althaiban, Hawam
Alhusseini, Sultan
Alibrahim, Hussain
Issue Date
2019-03-29
Type
Other
Language
en_US
Keywords
Blockchain , Music industry
Alternative Title
Abstract
This poster looks at the impact of blockchain on musical industry and focuses on the impact of blockchain on technological artists. In looking through the sector's supply chain, we argue that on-demand streaming (such as Spotify and Apple Music) platforms have made it easy for consumers to access music but have still created an interaction between artists and customers that results in the inefficiency of royalty payment. Its purpose is to identify blockchain applications that enable artists to disintegrate the industry and create more value from their own products. This paper examines some applications and concepts related to blockchain, including smart agreements, record keeping, revenue management and analytics of metadata. By introducing examples, we evaluate how companies market this new model and how these models are confined to the current state of the art in the music industry.