Music 4.5: Blockchain and the trust issue – April 26 in New York
Music 4.5: Blockchain and the trust issue is happening! If you’re in New York on 26 April, we want to see you. Whether you’ve already booked, are on the fence, or want to come but can’t, we’ve rounded up the ‘greatest hits’ of our latest blog posts on blockchain (some containing interviews with Music 4.5 speakers) and its current and future role in the music industry. Read more below, and get your tickets to the seminar here.
Guest post by Jesse Walden: What a blockchain for music really means
Jesse Walden is the co-founder of Mine Labs, who are currently building Mediachain, a decentralized metadata protocol for creative works. He writes: “If we want to enable maximum value flow and creation, we’ve got to solve the data problem first. Given that context, we should view a blockchain solution as a simple metaphor for shared, networked, media metadata.”
“Adopt, adapt, innovate – or face extinction.” – Jesse Grushack of ConsenSys
ConsenSys – a venture production studio that builds decentralized applications for blockchain ecosystems – was recently showcased in a New York Times article about Ethereum, seen by some as the much-improved successor to Bitcoin due its ability to provide smart contracts.He believes a blockchain solution for the music industry is inevitable: “Companies will have to take a look in the mirror and ask what they care about more; the artist or the money.” Jesse will be speaking at Music 4.5: Blockchain and the trust issue.
“Underlying data should be in a distributed system.” Joe Conyers III of Downtown Publishing
Downtown Publishing’s Songtrust is well known as a transparent digital rights management solution for the publishing house’s rightsholders. Conyers applies his experience and expertise to argue the case for a distributed blockchain system for music. “With distributed systems, people have to do a good job,” said Conyers, who will also be speaking at Music 4.5: Blockchain and the trust issue. “If they don’t do a good job, it goes on record. This forces bad actors to be better, because they’ll get caught.”
Guest excerpt: “Blockchain and the music industry” by Deborah Newman
An excerpt from the upcoming IAEL book, “Monetization of the Global Music Business – From Creators to Major Industry”, Newman asks: “Why is the money being paid by digital music services to record labels and music publishers (and collection organizations on their behalf) not making it to the bank accounts of artists and songwriters?” Newman will be chairing a panel discussion at Music 4.5: Blockchain and the trust issue.
Marcus O’Dair: “The [blockchain] problem is one of business and economic models, not technology.”
Marcus O’Dair is a music industry stalwart and is currently a lecturer in popular music at Middlesex University, where he also convenes the Blockchain For Creative Industries research cluster. In this interview, he gives his view on different players in the blockchain space, the role academia might play in crafting a solution not mired in business and politics, and the problem of legacy data.
Is the road to blockchain paved with the Spotify lawsuit?
“Say Spotify does build a database – will the music industry at large trust that its reporting is accurate? Wouldn’t it be better if Spotify, other streaming services, labels and CMOs invested in an industry-wide database built on blockchain technology?” 4.5 Blog Editor Gayle O’Brien dissects Spotify’s settlement deal with the National Music Publishers’ Association in the U.S.
Music 4.5: Blockchain and the trust issue will take place on 26 April in New York. Last minute tickets are still available – book yours here.