Can Blockchain Save The Music Industry?

From Wired

LAST FALL, A group of music industry heavyweights gathered in New York City to do something they’d mostly failed to do up to that point: work together. Representatives from major labels like Universal, Sony, and Warner sat next to technologists from companies like Spotify, YouTube, and Ideo and discussed the collective issues threatening their industry.
And there were many. For decades, major labels have watched record sales nose dive. Meanwhile, streaming services are growing in popularity but drowning in lawsuits. In 1998, the industry reported revenue of $13.8 billion; in 2016 it had dipped to $7.65 billion—and that was considered a good year. “It’s a really fragmented industry,” says Dan Harple, founder of Context Labs and one of the organizers of the meeting. The participants of that confab would later form a group called the Open Music Initiative.

I like new blockchain projects like this one that harness the underlying technology to solve a problem and go beyond being a currency or asset intended to be traded on some exchange. The blockchain goes beyond!

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Absolutely can't wait to show this to my musician friends! It has been a struggling market for anyone trying to make their own music...:/

The blockchain is going to save a lot of things!

The Blockchain is a great technology and for the time being we can expect that emergent nature of the community will overcome all the bans, governments and restrictions and to continuously change technology on its way.

Having said this it's very difficult to bet on the right crypto, which one will be the one that will solve the specific issue of the moment?

My suggestion would be to:

yes spend time to select cryptos and tokens, look at graphs and read about teams and regulation
but always maintain a portfolio of cryptos so that you are not too exposed to idiosyncratic risk

For those interested I wrote a post on the gains from diversification.

CryptoPortfolio - Simple trick to increase returns by 8% per year

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