Interesting Ways In Which The Blockchain Improves The Music Industry #002

jueco (76)modquality controllerin Steem Alliance • last year

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With a heart filled with joy I happily come before you all this day to discuss again with you on the Importance of blockchain technology in our lives.

It is an undeniable fact that the blockchain has really shaped our lives for the better.

Today, we shall be examining ways in which the blockchain has improved the music industry, please tag along as we embark on this adventure:

SMART CONTRACTS:

Smart contract of a blockchain technology adds so many improvement on the operation of the music industry.

Smart contract can be explain to be self-executing agreement that are initiated with specific terms and conditions.

By making use of the blockchain technology, the smart contract helps to guarantee accountability and transparency in it's dealing in the music industry.

With the involvement of smart contracts, artist can be sure that they will receive the amount of money they deserve and any attempt to steal from them will be easily detected.

Also the smart contract helps to eliminate the presence of middlemen and this reduces the risk of manipulation in payment processes.

By the removal of middlemen, the smart contract helps to promote direct interaction between artist and fans.

There is usually no usefulness of a record label anymore, as fans can interact directly to their favourite artists.

Another advantage of a smart contract to the music industry is that the smart contract helps to guarantee a fair royalty distribution.

DECENTRALIZED MUSIC DISTRIBUTION:

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The blockchain aids a decentralized music distribution by giving artists a full control over their musics, they do not need to submit under anyone to get their music sold.

The blockchain also acts as a distributed ledger that stores as a record every activity related to music distribution on the blockchain.

The distributed ledger is shared among different nodes in a decentralized network, thus making it difficult for musical data to be manipulated.

With this, artists, producers, music labels, consumers can easily monitor transaction history thus guaranteeing transparency and trust.

GLOBAL ACCESSIBILITY:

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With the blockchain technology, a global access to your music upload is very possible, as the blockchain helps to remove all geographical barriers.

Musics can be uploaded by artist and it will be immediately assessible to fans all over the world.

The blockchain based platform gives upcoming artists the opportunity to reach audience all over the world with ease, rather than working under a label and giving credit to the label for your hardwork.

With the operation of a traditional music platform, a song has to trend on the platform before it can be recognized globally or accessed globally but this is not so with the blockchain platform.

With the blockchain platform, there is transparency and equality.