The Music Business of Blockchain Travis Wright IBM Influencer Blog MSP Hub

Written by: Travis Wright

Many industries are being disrupted by blockchain.  Blockchain isn’t just a fancy buzzword and not all blockchains come with a cryptocurrency.  Many blockchains are working in the enterprise space and changing their industry.

A couple of weeks ago, I was part of an IBM webinar that focused on the music industry specifically, and how blockchain is changing the music industry from within.

Enter Axispoint.  Axispoint developed the first global, deals-based music publishing system for a major publisher, partnering with EMI Music Publishing in 2002 to build a global synchronization licensing system, and then again from 2006 – 2012 to build a suite of custom enterprise music publishing systems to replace legacy systems that had been running for over twenty years.

Now they are doing it again with Blockchain and IBM.

Pretend you’re in a band.  You are the lead singer and songwriter.  I am your drummer.  I’m an amazing drummer.  You have a bassist and a lead guitar player, as well.  We can’t forget that you also have a producer and a manager.  You could conceivably sell your music directly to consumers without a middle man.  Or, if you work with a big label, they could divide your revenue more fairly.

Every time your new song gets played you earn a penny, let’s say.  Since you write the songs, you get 20% for that, 15% for being the singer, I get 15% for being the drummer, the bassist gets 15%, the guitarist gets 15%, the producer gets 10% and your manager gets 10%.

By using the blockchain and utilizing a smart contract, every time your song is played, those payouts could happen automatically.

There have been several blockchain startups trying to fix this problem through various “ICOs” over the past two and a half years. ‌Companies like Musiconomi, Musicoin, Oju, Blokur and many others have tried to beat a big enterprise to the punch.

However, Axispoint is different in that they have already been working with large music companies for the greater part of the last 2.5 decades.  In December 2018, Axispoint joined the Open Music Initiative, whose mission is to use technology to provide accuracy and transparency to how music rights owners are identified and compensated.

Axispoint has been working closely in partnership with IBM and are developing the next generation music rights ownership platform.

With IBM Blockchain you can disrupt many industries, not just music.  Look at all of the industries that are being disrupted by blockchain.  And enterprise blockchain is here to stay.  IBM is the framework that’s making it happen.

To watch the full webinar, The Music Business of Blockchain, check it out here.

 

Simplify your blockchain deployment with IBM Blockchain

Enter IBM Blockchain. It’s an enterprise-ready blockchain platform designed to accelerate the development, governance and operation of your business.

Companies large and small can use the IBM Blockchain Platform to simplify the developmental, governmental and operational aspects of creating a blockchain solution. IBM Blockchain enables you to easily migrate from POC to pilot, all the way through to production on a secure, high performance, and fully scalable production network that you can’t outgrow.

The IBM Blockchain Platform gives you everything you need to create, test, govern and manage a working blockchain network, so you can accelerate creation of blockchain applications in a variety of cloud environments.

The platform is part of an overall IBM Cloud account, which provides immediate access to all services and APIs in the IBM Cloud platform, including Watson AI, Security, Cloud Object Storage, Kubernetes Service, Core Compute services and dozens of others (via subscription or pay as you go models).

By integrating your solutions with leading-edge IBM Cloud technologies, you can help businesses realize more innovation and value. And with up to $12,000 of free IBM Cloud credits spread over 12 months at $1,000 per month for those new to IBM Cloud, you can access more than 130 unparalleled services, including not only Blockchain but:

  • IBM Watson – the deep learning AI for business, of which you can use any of the services
  • IBM Analytics – helps you make your data simple and accessible
  • IBM Security – helps you assess and eliminate threats

So, regardless of which technology you’re interested in, you can use your IBM Cloud credits to get started for free.

 

>> Start building with your $12K FREE IBM Cloud credits <<

And if you want me to come speak on blockchain or marketing strategy at your event, feel free to reach out.  I can also crack some jokes to entertain your crowd and make your conference a bit less dull! 🙂

12k FREE Cloud Credits
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