The music industry is Jekyll and Hyde in many ways. It houses some of the most creative people on the planet, but also can be one of the businesses most resistant to change. Artists are becoming increasingly unsatisfied with the opacity, unfixable mistakes and fees from distributors and publishers. Blockchain could be the solution and a hot topic in tech that could impact just about every business field. The music industry is no different and a new short doc takes a short examination at how it may do just that.
A new short doc by Nest looks at how Blockchain, notably one example of its use with RAC and his new album Ego, might be able to revolutionize the music business. It creates a permanent and public directory online that can be accessed by anyone once created. Also through various payment methods like Ethereum, fans can buy directly from the artist without going through any middleman, all in a transparent way.
Watch the documentary to see how RAC and UJO Music, a blockchain music distribution start-up helped distribute his music in a new way and how it may be a boon for you.