Lexmark International, the printer manufacturer, did not invent new techniques or norms of ownership, but its aggressive use of contracts and legal theories have shaped and defined the law of ownership of technological products today.
The steady march of progress through technology has radically altered the way many industries operate, and perhaps nowhere is that effect more evident than in the music industry. The movement toward digital media has changed everything from the way music is produced to the way it is discovered, purchased and consumed by listeners.
Now, the Internet of Things, and in particular the rise of interconnected “smart” home technology, promises to once again revolutionize the way the music industry operates and engages with consumers. Rather than being tethered to a PC or laptop, listeners equipped with smart tech can now discover and stream music seamlessly throughout their homes.
Using a customized search engine that draws data from multiple major music services and databases artists can now search potential new band names for free. Once an artist finds an available name, for $15 they can create an immutable record of that name, and critically all of their uses of that name including every gig, recording, public performance or other appearance.
All of this information is permanently linked to the Blockchain and can be independently verified at any time in the future.
As a trusted provider of back office services, it has already inked more than a dozen agreements to be an admin partner to labels, increasing its chances of processing payments from the likes of Spotify and Apple Music for the industry’s big boys.
Already the place where users went to listen to music, it was easy enough for platforms to become the discovery platform of choice for their users. Spotify’s Discover Weekly hit 5 billion listens just 10 months after launching. With just about 100 million users, that’s about 50 new songs discovered via Discover Weekly per Spotify user.
Now labels have effectively become data companies, looking to the streaming platforms to find the new hot artists. Instead of sending A&R teams out to discover new acts, they monitor things like listens, adds, and skips across platforms to see which artists are worth signing.
Grammy Award-winning U.K. singer, songwriter, and producer, Imogen Heap, has pushed a little further her call for the use of the blockchain technology as the solution to many of the issues dogging the present day music industry.
As reported by Real Business, Heap explained why it is time for the industry to reinvent the way people discover new content and the creators get paid after giving the crowd at the Oslo Innovation Week a short performance with her Mi.Mu gestural music gloves.
Walt Disney Company (DIS) became the latest organization to jump onto the blockchain bandwagon after it released an open source version of its hybrid public/private blockchain platform Dragonchain yesterday.
But Disney’s foray into blockchain is surprising, especially when you consider that the company is mostly involved in the entertainment industry. The company’s description of the new platform, which is steeped in vague descriptions, doesn’t help matters. According to Disney, Dragonchain is a “fast-paced emerging technology foundation for businesses with which to integrate and apply toward identified business problems and use cases.”