Blockchain Technology in Music Industry Blockchain Technology in Music Industry | Page 3

With Blockchain technology swaddling almost every industry that is imaginable, and its tentacles
successfully bandaging every industrial inadequacy, it is presumed that blockchain for music industry
too, can bring some revolutions to the floor.
It is anticipated that the distributed ledger technology can bring in more transparency to the music
creation and distribution, fair distribution of payments to the artists, protecting the copyright of music,
etc.
Let’s see in what all ways blockchain in music industry can bring forth changes:
Tackling Piracy
One can confidently ascertain that pirated music is the greatest factor to continual destruction of music
business. Theft in the music industry is evaluated to cost the U.S. economy:
> $12.5 billion in total yield
> 71,060 employments
> $2.7 billion in profit