27 Nov '15, 2pm

Bitcoin Seeks To Right Music-Industry Wrongs

Bitcoin Seeks To Right Music-Industry Wrongs

The music industry has been plagued by problems ever since the advent of the Internet and digital file sharing. Free file sharing, illegal downloads and streaming services that offer unlimited listening for a low monthly fee have all contributed to a growing resentment among artists who say that the value their work isn't being recognized adequately. However, the bitcoin community is looking to change all of that by using blockchain, the ledger-like technology that the cryptocurrency runs on, to create more transparent contracts. Royalty Distribution As many artists have their royalty fees negotiated by their labels, undesirable contracts with streaming services are often outside of their control. That means that their music can be played on services like Apple Inc. (NASDAQ: AAPL )'s Apple Music or Spotify for a minor fee that the artist often find insufficient. In order t...

Full article: http://www.benzinga.com/news/15/11/6005226/bitcoin-seeks-...

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