What can blockchains do for music? A conference working group wrote a whitepaper that maps out both the benefits and drawbacks of how an actual implementation might distribute among industry players and stakeholders – from artists to audiences and all of the many intermediaries.
We brought together a diverse group including some of the world’s leading experts in blockchain technology, cryptography, metadata, music business, songwriting rights and royalties
It soon became apparent that before improvements could be attempted, first there must be agreement what would constitute an improvement.
After many long discussions, ranging from the technical to the philosophical, the group arrived at a number of more specific questions that require serious analysis, leading to a fuller and clearer picture of blockchain technology and its limitations, particularly with respect to how it might apply within the ecosystem of music
Source: #MTFLabs Blockchain
For myself, I am cautious about taking a ride on a hype bubble, but also about glib rejection. Bitcoin took a long time to happen for good reason. I am reading and absorbing whatever I can.
Be patient. Be wary of euphoria without being closed to big ideas.