According to Fast Company, Bjork fans will soon be able to purchase her new record with cryptocurrencies or old-fashioned fiat money on her website or . Bjork album Bitcoin is a new currency that was created. The Winklevoss planetary house have purchased bitcoin. atomic number 49 , The Washington Post reported a claim that they owned 1% of all the bitcoins in natural object at the set. In , Islandic singer, Bjork collaborated with London-based Blockpool, allowing her fans to exchange Litecoin, Dashcoin, and AudioCoin for her album Utopia. Moreover, the far-famed American singer and visionary change-maker, Akon, launched his own cryptocurrency dubbed AKoin while building a .
Bjork bitcoinBjork's Reportedly Giving Away Cryptocurrency With Her New Album
While some believe that Napster is an integral part of transformation of the music industry into what it is now, others are of the opinion that it gave birth to long-term fiscal challenges due to the increased piracy during its era, the symptoms of which have been endured by the industry till date. Amid the need for a new model, Apple launched its media player, iTunes which reaped financial benefits for the industry through the sale of digital media. Followed by this, other streaming services such as YouTube, Spotify, Apple Music, Tidal were launched which continue to proliferate even today.
Undoubtedly, these platforms benefited the consumers to a great extent. However, despite the turning points in the industry, distribution still remains a challenge and the authority dispensed to the intermediaries has withheld power from the creatives artists and producers who painstakingly produce music and yet somehow are the last ones to reap royalty credits.
Although centralized intermediaries add value to the supply chain through promotions, they have disturbed the balance between musicians and the end-consumers.
The middlemen in most cases end up garnering more profits than the artists. Generally, a single project involves contributions of writers, producers, sound engineers and a technical team. It becomes important to recognize the contributions and reward the stakeholders accordingly. As easy as it might sound, this is very challenging due to the lack of a verified global registry of music creatives and their works.
So where does blockchain come into the picture? For starters, this decentralized technology can be used to manage ownership rights and offer quick and efficient royalty distribution.
Smart contracts allow credible royalty payments to the artists and other stakeholders, addressing the fact that many artists are severely underpaid or just not paid on time. The transparency offered by the technology has proven to serve as a close tie between the artists and the consumers. As reported by BitcoinNews. This exemplary model showcases the vast potential of blockchain in the music realm. The real idea is not the complete elimination of the middlemen but confining their power to marketing support and technical assistance.
This can be achieved through a transparent network to keep a check on the intermediate shares and royalty payments.
As discussed earlier, blockchain has a massive impact on the music ecosystem thanks to its decentralized infrastructure. The emerging technology is being tapped by several platforms to revolutionize digital services. Currently, those coins add up to a value of about 26 cents.
The New York Times recently profiled the bumbling somethings behind Centra, a digital token that Floyd Mayweather endorsed. Among the many shady details surrounding the company, the founders briefly listed an older man as the CEO of the company who turned out not to exist, despite his now deleted LinkedIn profile.
And earlier this week, the SEC issued a warning to celebrities and individuals that they should think twice about providing ICO endorsements because if anything turns out to violate the law, they could be held legally responsible. Bacon said that Blockpool is working with her to determine other AudioCoin rewards that will be provided to fans over the next two years for things like going to concerts. After thousands of retweets, the hip-hop and reggae artist apparently sought to turn the apparent joke into a reality.
The rapper has yet to follow through with his promise. Bitcoin unites my fans around the world using one currency. They can just pay using bitcoins! Bitcoin is remains largely shunned by big banks but has become increasingly widely accepted by retailers.
Travel booking service Expedia began taking bitcoin payments in June and Microsoft users can use the virtual currency to buy content in the Windows and Xbox stores.
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