As for the development of blockchain development technology, I believe the first thing we can see is the landing application. The development and update speed of blockchain is increasing. It seems that the development of blockchain system combined with various industries has become a trend. Today, let’s talk about an indispensable industry, music industry. Music makes us express our life emotions and so on. Almost everyone will listen to music. With the popularity of the music industry and the blockchain system, what sparks will there be? The development of blockchain music ecosystem immediately attracted people’s attention. Why?
First, transparent account book of blockchain system development
I believe that many of the characteristics that guide the blockchain technology and why the blockchain music system is hot are because the distributed transparent ledger on the blockchain allows everyone to see the income brought by a song, the time and size of the income items, and who is bringing what percentage of the income. The development of blockchain music system can be used for simple accounting, auditing and tax treatment.
Second, data analysis of blockchain system development
Through the blockchain technology, we can have the opportunity to get data and conduct relevant analysis. This blockchain music system can capture a lot of data lost in the past. Through some information, artists can attract suitable advertisers and sponsors, customize tour performances, and connect with our resonant brands and organizations, Or promote artists, products or charities that we like and support. These are very practical.
Third, the royalty of blockchain system development
The development of blockchain music system has inclusive royalty, and the income is distributed fairly according to everyone’s contribution to the creative process. Everyone should benefit from the major success of art, not just record companies and distributors.
Fourth, the value model of blockchain system development
Artists are regarded as entrepreneurs and equal partners in any business, and the agreement of artists as entrepreneurs and equal partners in any business is respected, and they are regarded as an indispensable part of value creation. The old paper contracts, which were unfair in the beginning, should be gone, and the share of royalties will not decline any more.
Fifth, digital rights management of blockchain system development
Sixth, the billing of blockchain system development
If you can charge for music in the way of micro charging, consumers will pay a small fee every time they play music, so that royalties can be paid to artists and contributors in the way of “streaming” immediately. In this way, payment delays, semi annual or quarterly royalty checks, and ambiguous royalty statements will become history. Artists are not going to make ends meet.
Seventh, the database of blockchain system development
Each database can interact with each other and put all the core copyright related materials on the digital ledger for anyone to see. These materials include lyrics, composition and recording, with all metadata, album envelope description, illustrations and photos, singles, rights that composers and performers are willing to authorize, terms of authorization, contact information and so on. In this way, the copyright database with incomplete information will become history. These copyright information can be easily obtained. Copyright owners can easily find these materials.
For us, the development of blockchain music system has injected fresh blood into the music industry, brought people a lot of surprises, and solved the pain points of many artists or customers. It is believed that the development of blockchain system has promoted the development of blockchain technology. Although the development of blockchain is in its infancy, we should maintain the confidence and vitality of blockchain technology development in the future.