4 ways blockchain can disrupt the live industry
Hailed as a gamechanger for the fragmented recorded biz, IQ learns the Bitcoin-derived tech also has wide-reaching applications in ticketing, live streaming and licensing
Feature By | 3 March 2017
While much has been made of the potential for blockchain – the technology behind cryptocurrencies such as Bitcoin – to revolutionise the recorded music industry, the same isn’t true in the live sector.
Articles by the major tech and business publications (Forbes, Fortune, TechCrunch et al.) have largely focused on implications for the online streaming of recorded music, citing the benefits of ‘smart contracts’ wherein the owner(s) of songs will be paid automatically for their usage. However, while wider adoption of blockchain may, as Imogen Heap suggests, throw a much-needed lifeline to musicians struggling with paltry Spotify pay-outs, it could also radically transform the (comparatively more lucrative) live industry…
Tout-proof ticketing
In the same way blockchain databases monitor where a music recording has been used, the…
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