BLOCKCHAIN APPLICATION IN DIGITAL MUSIC MARKET AND A CASE STUDY

Abstract

ABSTRACT This paper intends to conduct an interdisciplinary, cutting-edge research on the distributed ledger technologies (DLTs), also known as "blockchain" and digital media. DLTs serve as the backbone of the Bitcoin which feature such innovations as shared databases, smart contracts, privacy, and consensus mechanism and provide a new, secure IT infrastructure to digitize value chains of many industries. The setting of the paper is the e-commerce for digital media which have tremendous commercial values but suffered from severe cybersecurity and fraud problems. The case study of this paper on the DLT innovations analyzes a secure and equitable infrastructure for the digital media commerce where the participants can jointly share the increase of values for their ideas and investments. Keywords Blockchain, Digital Media, Digital Transaction, Digital Content