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Nov 18th, 2018
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  1. The launch of cryptocurrency and blockchain platform in music industry is probably most hyped collaborations in 2018. Mainly, this collaboration is still continuing to develop its full potential. Moreover, according to DeVries (2016) perspective “Cryptocurrency works on the theory of solving encryption algorithms (…). Combined with a network of computers verifying transactions, users are able to exchange hashes as if exchanging physical currency. “. This means banks, music-streaming giants, lawyers and financial services can be eliminated from the process of how consumers purchase music. As well as blockchain, which is “(…) characterized by censorship resistance, immutability and global usability (…) (Bucharest, 2018). For this reason, music business practitioners are getting highly involved in cryptocurrency and blockchain projects.
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