Three things the music industry should learn from Bitcoin about disruption
- Bryce Weiner
- 10 mars 2016
- 2 min de lecture
The music industry is about to change. Everyone knows it. Applied blockchain cryptography and new virtual reality systems are about to change digital entertainment more radically than what portable digital music players and streaming content platforms have in the last 20 years.
I’ve been involved in the tech industry since the late 90’s. I saw, participated in, and profited from the tech bubble of the first decade of this century, mostly as a developer. I’ve been involved with Bitcoin and blockchain development since 2013.
I have been on the vanguard of the disruption as it rippled through the financial sector, and for the last two years I’ve been working with various entities within the music industry to educate and prepare them for the coming of blockchain cryptography. From the sum total of those experiences, I think there’s three things of which the music industry should take note on the eve of its own disruption.
1. Disruption isn’t what you think it is.
... The initial implementation of Bitcoin was released in a white paper developed by a partnership betweenthe NSA and MIT in 1996. In 2009, the system was released open source with the addition of the “proof of work” transaction processing method by the enigmatic “Satoshi Nakamoto”.
...
2. Big players aren’t all that easily unseated, they are actually empowered.
...The Bitcoin network is essentially a crowd-funded laboratory in the real-world application of blockchain technology.
...
3. What looks good on paper often doesn’t work well in the real world.
... When one views the problems of the industry with a more holistic point of view, it becomes painfully obvious that the issues of royalty splits, content copyright establishment, and metadata are truly the low hanging fruit.
...
Read full article on Zapchain
تعليقات