In the decade and a half since Napster, it’s got harder for musicians to make a living, at least from recorded music. Falling CD sales, illegal downloads, the low payments from legal music streaming platforms, and a shift towards buying single tracks rather than whole albums all play their part.
Recently, a number of music industry projects have turned to a particular technology as a possible solution to these problems. These include Mycelia, launched by singer, songwriter and producer Imogen Heap, and Dot Blockchain Music, launched by PledgeMusic founder Benji Rogers. Then there’s Ujo Music, Blokur, Aurovine, Resonate, Peertracks, Stem and Bittunes, which already claims users in 70 countries. What links these projects is that they all are based on blockchain.