The networked record industry: How blockchain technology could transform the record industry

Abstract

Abstract Blockchain technology may have transformational potential for those music industries associated with recorded music, and for the sustainability of music careers. While predictions of widespread disintermediation may have been premature, blockchain technology does appear to have the potential to transform the role of third parties and to make musicians’ careers more sustainable. Blockchains could improve the accuracy and availability of copyright data, facilitate near‐instant micropayments for royalties, and significantly improve the transparency of the value chain.